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Click ‘Get Form’ to open the cg5585 application in the editor.
Begin with Part I by entering the legal name of the applicant and any trade names. Ensure all information is accurate, as incomplete applications will be returned.
In Part II, list all vessels requiring Certificates of Financial Responsibility. Fill in details such as vessel name, type, hull type, and country of registry.
Proceed to provide evidence of financial responsibility by selecting applicable methods like insurance or surety bond. Enter relevant guarantor information as required.
Complete Part III by providing your mailing address and contact details. Ensure you sign and date this section to validate your application.
Finally, if applicable, complete Part IV for agent designation before submitting your application for processing.
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What is a certificate of financial responsibility in shipping?
A COFR is issued to vessel operators who have demonstrated their ability to pay for cleanup and damage costs up to the liability limits required by the Oil Pollution Act.
What does COFR stand for?
COFR Guaranty Any vessel over 300GT that requires entry into US waters must apply for a COFR (certificate of financial responsibility) from the US Coast Guard. In order for a COFR to be issued it must be supported by a COFR guaranty issued to the US Coast Guard by an approved guarantor.
What is a certificate of financial responsibility?
An SR-22 is a certificate of financial responsibility required for some drivers by their state or court order. An SR-22 is not an actual type of insurance, but a form filed with your state. This form serves as proof that your auto insurance policy meets the minimum liability coverage required by state law.
What is a COFR in shipping terms?
Certificate of Financial Responsibility (COFR) The National Pollution Funds Center is tasked with administering the vessel financial responsibility portions of the Oil Pollution Act of 1990 (OPA) and the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA).
How long is a COFR valid?
All COFRs are issued by the Director in electronic form on NPFCs COFR program website () for a term of no more than 3 years from the date of issuance.
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