Freight Broker Bonds
What is a Freight Broker Bond?
A freight broker bond is required by the Federal Motor Carrier Safety Administration (FMCSA) in order to legally operate as a transportation broker. Other names for this bond are BMC-84, ICC Bond (this bond was previously a required of the ICC), and a Property Brokers Surety Bond. The FMCSA also allows brokers to submit the BMC-85 trust fund in lieu of a bond. However, our agency only recommends brokers make use of the BMC-85 trust fund if they do not qualify for the bond.
Current Market: A large amount of bond claims over the years has caused bonding companies to consider Freight Broker Bonds extremely risky. Most sureties require 100% collateral in order to consider this bond. Fortunately, JW Bond has several specialty programs that can place the bond with no collateral.
Special Programs: JW Bond offers the BMC-84 Bond with no collateral to applicants who qualify. Most bonding companies require Freight Broker bonds to be fully collateralized, but our bulk volume allows us to place these high risk bonds under unique terms.
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