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
Apply online www.allstatesuretybonds.com/apply for your BMC-84 bond or all our agents for more info at 800-374-9227 for more information
Tagged With: $75000 broker bond, BMC-84, BMC-84 broker bond, bmc84, Broker bond, freight broker bond