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What is a Freight Broker Bond (BMC-84)? [How much does it cost?]
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A Freight Broker Bond (BMC-84) is a type of license and permit surety bond required before a freight broker or freight forwarder can get licensed.
This is a federal requirement by the FMCSA.
This bond exists to establish trust and credibility for freight brokers. Having this bond guarantees you will abide by all federal and state rules and regulations and prevents fraud and unethical business actions.
These bonds are not protection for you, but rather protection for shippers and motor carriers that you are in contractual agreements with. If you fail to follow through on your obligations, someone can make a claim against your bond.
This is a federal requirement by the FMCSA.
This bond exists to establish trust and credibility for freight brokers. Having this bond guarantees you will abide by all federal and state rules and regulations and prevents fraud and unethical business actions.
These bonds are not protection for you, but rather protection for shippers and motor carriers that you are in contractual agreements with. If you fail to follow through on your obligations, someone can make a claim against your bond.
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