You need this bond if you're
- A new freight broker applying for operating authority
- A freight forwarder
- A broker replacing a trust fund or another surety
What the surety looks at
Your business, credit and experience in transportation.
Federal law requires property brokers and freight forwarders to keep $75,000 in financial security to hold operating authority from the Federal Motor Carrier Safety Administration (FMCSA). Most use a BMC-84 surety bond. It pays motor carriers and shippers if the broker doesn't meet its obligations.
Your business, credit and experience in transportation.
The FMCSA form for a surety bond. The other option, a BMC-85, is a trust fund agreement.
You pay a premium, not the bond amount. The surety sets the premium after it reviews your application, usually as a percentage of the bond amount. We show you the terms before you commit.
Apply once with us. We collect the details the surety needs, Propeller Bonds (our surety partner) reviews the application and issues the bond, and we help you file it with whoever requires it.
One application, reviewed by our surety partner Propeller. We show you the terms before you commit.