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 (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).
BMC-84 Freight Broker Bond |
What is the difference between the BMC–84 bond and the BMC-85 trust fund? The BMC–84 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.