Until recent, the $75,000 surety bond required by Oct 1st was seen as a requirement that could put thousands of freight brokers out of business. While the bond market has softened, allowing anyone who wants a bond to qualify without collateral, a $75,000 bond premium can get costly. In this article we will identify how to avoid associated costs you may not be aware of and possibly offset your bond costs completely through other savings.
As the FMCSA has broadened their authority over the freight broker industry, efforts to supervise compliance with MAP-21 will be a high priority. From monitoring training standards to verifying the $75,000 freight broker (BMC-84) bonds are in place, there is no question this federal agency is going to do everything it deems necessary to ensure read more »