What is a Freight Broker Bond?

In the US, a freight broker bond is required by the FMCSA in order to obtain your brokerage authority and is issued in the form of a $75,000 bond. The bond is a guarantee of payment between the broker, Surety and motor carriers & shippers, if the broker fails to comply or remit payment for services rendered, per contractual agreements.

A Freight Broker bond is also known as a BMC-84 bond, a Property Broker bond, an ICC Bond (Interstate Commerce Commission), a Transportation Broker Bond, or a Surety Bond.

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More Questions about Freight Broker Bonds:

What is a BMC-84 bond?

What is a property broker bond?

How do I become a freight broker?

How do I obtain freight broker authority?

What’s the minimum broker financial security required by the FMCSA?