If you own a marina, run a cargo boat business or operate some other type of marine vessel in US waters, you probably already know that you need to apply for and secure a Certificate of Financial Responsibility, also called COFR or eCOFR in some cases. This certificate essentially guarantees that in the event of an oil spill, you will be able to cover resulting costs. If you’re unfamiliar with the application process, though, there are a few specifics to be aware of.
Ensure On-Time Renewal To Prevent Harsh Penalties
Making sure you have your COFR in place before starting operations, or renewing it on time if you already have one, is critical in order to avoid harsh penalties. If you are found to be running operations without this certificate, penalties could include:
- Steep daily fines
- Denial of entry or even detainment
- Vessel loss
You Can Fill Out Your Application Online
In this day and age, many applications have moved to a digital format, and the COFR application is no exception. On the US Coast Guard website, you can find a streamlined filing process to take you from first-time application all the way through to receiving an electronic COFR.
For anyone working in US waters in marine operations of any sort, securing an COFR is essential. Now that you understand the particulars of the application process, you can secure the necessary certificate for your company.