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The Surety Bond Blog

03
Dec
2013

FMCSA Revokes 7,500+ Freight Broker Authorities

75k-guide

Now that the FMCSA’s $75,000 bond compliance grace period ended on December 1st, the FMCSA has stuck to their word and is wasting no time enforcing the increased freight broker requirement.

In the first week, about 7,500 broker authorities have been revoked. It is expected the number of authority revocations will only increase, as some industry professionals estimate that about half of the 21,000+ freight brokers within the U.S. are still not $75,000 compliant.

Is It Too Late To Get The $75K Bond?

As of December 3rd, we are still actively writing the $75,000 bond for current and new freight brokers. Don’t wait any longer and have your authority revoked, obtain the bond with:

• A+ rated, Treasury-listed surety
• No collateral
• Lowest rates in the country
• Approvals with good or bad credit
• 99.9% approval rate

 

 

Get the bond and keep your authority. Apply directly on our website to get an instant approval.

Comments (4)

Category: Commercial Bonds

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4 Responses

  1. How does a shipper know if the bond has been posted or not with their broker? What physical proof is there ?

  2. Hey Mark,

    You can visit the FMCSA website and verify whether freight brokers are meeting all requirements by inputting their information here: http://li-public.fmcsa.dot.gov/LIVIEW/pkg_carrque

    When the broker's information is pulled up, click the button under “View Details” (either the HTML or Report button). You’ll want to look for “ACTIVE” under the Authority Status column, and “YES” under Insurance on File column. If the broker’s record reflects these, it means they have the financial security of either a bond or trust.

    You can even determine the amount of financial security in place ($10K or $75K) and the expiration date by clicking the “Active/Pending Insurance” link at the bottom of the page. Once you’re on that page, you can click the name of the company who provided the bond/trust and get their contact information.

    1. Hey Dan,

      I don't know of any link providing that information, but it could very well exist. We obtained our statistics from industry expert and owner of mycarrierresources.com, Mike Curry (big thanks to Mike).

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