freight broker bonds

What are freight broker bonds

Freight Broker Bonds (BMC-84) are necessary for operation as a transportation broker in the United States, and are regulated by the Federal Motor Carrier Safety Administration (FMCSA).

Freight Broker Surety Bond | BMC-84 | ICC Bond |

How much is a freight broker surety bond?

As most of you are aware, the Moving Ahead for Progress in the 21st Century (MAP-21) Act takes effect in less than two months, on October 1. One of the provisions of the act requires that freight brokers secure a $75,000 bond or trust fund—a significant change from the $10,000 that is currently required.Aug 15, 2013

“How Much Will a $75K Bond Cost Me?” And Other Questions Answered

BMC-84 freight broker surety bond

The Federal Motor Carrier Safety Administration (FMCSA) requires freight brokersand freight forwarders to purchase a $75,000 surety bond before receiving a freight broker license. Freight broker bonds are also referred to as the BMC 84 bond or the ICC broker bond.

BMC-84 Freight Broker Bond | SuretyBonds.com (Updated April 2017)

Freight Broker Surety Bond | BMC-84 | ICC Bond |

Freight Broker Bonds (BMC84) are necessary for operation as a transportation broker in the United States, and are regulated by the Federal Motor Carrier Safety Administration (FMCSA).

BMC-84 Freight Broker Bond |

What is the difference between the BMC84 bond and the BMC-85 trust fund? The BMC84 is the form used for the surety bond option, which only costs a percentage of the required bond amount. The surety bond is a form of surety credit to you, as the surety company is guaranteeing you will follow FMCSA regulations.

 

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