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Freight Broker Surety Bond (BMC-84)

The Federal Motor Carrier Safety Administration (FMCSA) requires all freight brokers and freight forwarders to be licensed and file a surety bond in order to operate. Both brokers of property and brokers of household goods are required to provide a $75,000 Surety Bond (Form BMC-84)or a Trust Fund Agreement (Form BMC-85), failure to comply can result in fines.


Do I need an MC# to apply?

The short answer is no, you do not need an MC# to apply. You will need an MC# once the bond is issued as these bonds are filed electronically. Once your bond is approved and paid for, we will file your bond with the FMCSA and provide you with a copy via email.


What Does a BMC-84 Bond Cost?

The BMC-84 surety bond cost will depend on the credit of the business owner(s) and their experience in the industry. With rates as low as $750 per year and our simple bond application process, we can get you the bond you need at one of the industries lowest rates.


Can I Get a Freight Broker Bond with Bad Credit?

We can issue Freight Brokers and Forwarders Surety Bonds for 99% of the applicants no matter what their credit report looks like! Our Bad Credit Surety Bond program rates allow you to get your bond issued, regardless of your credit report! Unfortunately, applicants who have distressed credit can expect to pay a higher rate.

Be sure to visit the Federal Motor Carrrier Saftey Association for more information on How to Become a Freight Broker. The FMCSA monitors and ensures compliance with state and federal motor carrier safety and commercial regulations.

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FAQ

  • What is an indemnitor?

    In indemnitor is the financially responsible party that signs the indemnity agreement wherein they agree to indemnify and hold the surety company harmless from any and all losses. In effect they are guaranteeing to repay the surety company in the event the surety company pays out a loss on a bond.

  • What is a Surety Company?

    Surety Companies are usually owned or part of an Insurance Company. They leverage their financial stability and creditworthiness on behalf of many principals to many obligees