Freight Broker Bond (BMC-84 or ICC Bond)
suretyone.com
Freight Broker Bond (BMC-84 or ICC Bond)
A property or freight broker is one of several classes of companies licensed by the Federal Motor Carrier Safety Administration (FMCSA). A "broker" is a transport intermediary that specializes in pairing a customer ("shipper") that needs to move property or persons and a "carrier" that is able to move property or persons. As with all regulated ...
Aug 5, 2017
BMC-84 Form Explained
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BMC-84 Freight Broker Bond: A Comprehensive Guide
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FMCSA requires $75,000 financial security to operate as a freight broker in the US/Canada. Learn two options: BMC-84 surety bond (yearly premium to bonding company) vs BMC-85 trust fund (full $75,000 cash deposit). Most new freight brokers choose the BMC-84 bond due to the lower upfront cost vs the trust fund that ties up capital. Bond protects carriers and shippers if the broker doesn't pay. Must be filed directly with FMCSA before authority becomes active. Compare bonding companies and applica
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