Freight Broker Bond/BMC 84 Bond/ICC Broker Bond
What is a Freight Broker Bond?
Freight brokers and freight forwarders alike must purchase an annual $75,000 surety bond as required by the Federal Motor Carrier Safety Administration (FMCSA) before they can receive their freight broker license.
What is the cost of a Freight Broker Bond?
Freight broker bonds cost a percentage of the $75,000 bond amount. This percentage is determined by applicant’s Fico score and business experience. Bond rates also vary by the state where they’re issued. Freight brokers who want to renew their surety bond may qualify for lower rates after a year or two without any claims.
What if I have bad credit?
JM Surety is proud to offer competitive rates to applicants whose credit profile doesn’t qualify for the preferred rate.
When will I receive my bond?
Once you’ve ordered the bond, JM Surety files the bond directly with the FMCSA.
Why should I choose JM Surety?
JM Surety strives to consistently offer the lowest rates available. We don’t charge broker fees and customer satisfaction is a major priority.