Our economy heavily relies on truckers to transport vital necessities such as food and clothing. Freight brokers are required to maintain a $75,000 surety bond with the FMCSA (Federal Motor Carrier Safety Administration) under Title 49, U.S.C. 13904. As of October 1, 2013, the freight broker bonds amount increased from $10,000 to $75,000 to comply with the MAP-21 bill.
Also referred to as a BMC-84 bond or ICC (Interstate Commerce Commission) bond, these bonds guarantee the broker will operate in a correct manner and pay the motor carriers and shippers in a reasonable amount of time. This applies to both property and household goods brokers as well. The bond is a requirement in order to obtain a brokerage authority. You can rely on Hudson to offer competitive rates for the BMC-84 bond requirement.
We at All State Bonds strive to make the application and issuance process as seamless as possible:
We offer same day quotes
We can consider applicants with standard and non-standard credit
No original indemnity is required
No financials required
We can accept electronic signed indemnities
Our customer service team will electronically file the bond for your clients on the FMCSA’s website