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Freight Broker Bond (formerly ICC Bond)

$75K Bond Program Update:

  • No Collateral
  • Lowest Rates
  • No business financials
  • Bad credit? No problem!
  • Instant Online Approval
  • 99.9% approval rate
  • Exclusive to JW Surety Bonds

FAQ

  • Will I qualify for the $75K bond?
  • We are able to approve nearly any client with good or bad credit, and never require collateral. Apply directly on our website to get a collateral free online approval.

  • What will a freight broker bond cost me?
  • The cost is a portion of the bond amount. However, freight broker bonds are considered to be one of the highest risk bond requirements therefore, their rates are higher than most other bonds. In fact, most companies do not write freight broker bonds. The few that do usually require 100% collateral to be posted with the bond. We have exclusive programs that offer freight broker bond quotes with no collateral. Better yet, our website approves you instantly online.

  • What is the difference between the BMC-84 bond and the BMC-85 trust fund?
  • The BMC-84 surety bond is an insurance company guaranteeing your company. The BMC-85 trust fund is your cash, held by a bank guaranteeing your company.

  • Is the BMC 84 surety bond the best option?
  • The BMC 84 is, as the trust fund ties up your money, while the bond only requires an annual premium payment, which is a percentage of the bond amount. The bond also comes with a team of claim specialists that will assist you in fighting false claims, which is invaluable since the freight broker business has a high frequency of false claims.

  • What is the required freight broker bond amount?
  • A $75,000 bond is now required as of October 1st, 2013.

  • What are the freight broker bond requirements?
  • You'll need to apply with the FMCSA and obtain your freight broker authority, which is sometimes referred to as an MC number. Once you have your authority, you can obtain a freight broker bond. Our exclusive freight broker bond programs have very liberal underwriting requirements. Whether you have good or bad credit, we can help!

  • Where can I get a BMC 84 bond form?
  • There is no physical bond form, as it is an electronic bond filing, which we will handle for you. Once your bond is filed, you can view it on the FMCSA website.

  • Are there other names the freight broker bond is called?
  • Yes. It is also referred to as a trucking surety bond, a transportation broker surety bond and a BMC-84 surety bond. In the past, it was called an ICC surety bond prior to the FMCSA handling all freight broker licensing.

  • What if I have a false claim?
  • These bonds have a high amount of false claims due to delayed payment to carriers. We specialize in working with the surety claims department to help you properly defend yourself on false claims. We recommend you watch our video to learn more about bond claims.

  • Still have questions?

    See our Education Center or ask us now!


$75K Freight Broker Bond Increase

The new $75K bond requirement went into effect on October 1st, 2013. We strongly advise that all freight brokers are compliant before they continue operations in order to keep their authority and avoid unnecessary fines. Please apply on our website to get an instant approval. There is absolutely no collateral required, and you can get approved with credit issues.


Freight Broker Bond Cost

The cost is based on a percentage of the bond amount, which will vary by the applicant's personal credit and experience in the industry. You can get a ballpark estimate, or you can apply directly on our website and get an exact quote.


Get A Transportation Broker Bond With Bad Credit

You can get approved for a freight broker bond, even with bad credit. This is made possible by our high risk market, which is exclusive to JW Surety Bonds. Should you go to another agency, they will likely broker the bond through us, possibly costing you extra money and time.


BMC 84 Surety Bond vs. BMC 85 Trust Fund

The BMC-84 and BMC-85 are the forms used for the surety bond and trust fund options. Either one will allow you to obtain your freight broker license. Find our comparison table below to determine which option fits best for you. You can also watch our video to learn more about obtaining your freight broker license.

BMC 84 (Surety Bond) BMC 85 (Trust Fund)
Licensing ✔ Allows freight broker to obtain license ✔ Allows freight broker to obtain license
Collateral ✔ No collateral required ✘ Full collateral is required
Yearly Fee ✘ A portion of the bond amount is charged ✘ Charged by the bank & company who set up the trust
Ease To Obtain ✔ Anyone can obtain ✘ Good credit required
Claim Investigation ✔ Full investigation of claims ✘ Often no investigation of claims

The BMC 84 is used for the surety bond option, and is filed electronically on the FMCSA (Federal Motor Carrier Safety Administration) website. Freight broker surety bonds are a form of surety credit to you. Rather than posting your own money to be held by a bank, the bonding company provides a guarantee to the FMCSA. This frees up working capital, improving your liquidity, which helps you to operate a more financially sound business.


Definition: A retail & professional services license bond that guarantees freight brokers will abide by the rules of the FMCSA (Federal Motor Carrier Safety Administration). The bond is required in order for freight brokers to get their license/authority.

Get an instant quote for a Transportation Broker Bond



In the event of a claim, bonding companies also have experienced claim specialists to assist you, as their bond ultimately leaves them liable if you cannot pay for a claim. Bonds do not require you to post any collateral, just an annual premium fee, which is a small percentage of the bond amount. As the leading writer of U.S. freight broker bonds, JW Surety Bonds has exclusive access to a specialty bond program allowing for the approval of both good and bad credit applicants at exceptional rates.

The BMC 85 form is used for the trust fund option, for which you must post cash in the full dollar amount of the bond. Your funds act as the guarantee that you will not trigger any claims. Should a claim be triggered, your money will be used to pay it. A bank will hold your funds as long as you have an active license/authority, while charging fees and tying up your assets.


Freight Broker Bond Requirements

SELECT A BOND TYPE BELOW TO APPLY

Filter by state
BOND REQUIRED BY BOND FORM VERSION APPLICATION
BOND REQUIRED BY BOND FORM VERSION
District of Columbia Freight Brokers Bond Federal Motor Carrier Safety Administration BMC-84 APPLY NOW
District of Columbia Ocean Transportation Intermediary Bond Federal Maritime Commission Form FMC-48 (Rev. 05/99) APPLY NOW
District of Columbia Property Broker's Excess Bond Federal Motor Carrier Safety Administration GPP Bond Form B111 Rev. 11/1/07 $10K APPLY NOW
District of Columbia Property Broker's Excess Bond Bond Federal Motor Carrier Safety Administration GPP Bond Form B111 Rev. 11/1/07, $25K APPLY NOW
Illinois Transportation Brokers Bond Bond Illinois Commerce Commission - Transportation Divi cc308/26, $10K APPLY NOW
Kentucky Vehicle License Bond Bond Commissioner of Finance APPLY NOW
Virginia DoD Performance Bond Federal Government - MSDDC - QA OMB No. 0702-0088 APPLY NOW


Joe Strobel (Mon, 02 Jan 2012 21:48:50 -0500): Call me rapidautotransporters.com , 715-842-2075.Chad Epperson (Mon, 29 Jul 2013 14:05:57 -0400): If you get the $10,00 bond prior to Oct 1st 2013 does it grandfather you so you do not have to get the $75,000 one later?John Thomas (Tue, 30 Jul 2013 23:47:48 -0400): Chad - the bond requirement goes up for EVERYONE. No grandfathering. Don't overlook the potential benefit of working as a freight broker just because of a higher premium coming up. Truckers have faced far more difficult costs with the rapid increase in fuel and other costs. Ck with all of the potential bond providers and get the FULL picture. Hope this helps. John Thomas www.atexfreightbrokertraining.comDonald A. Probst (Wed, 25 Sep 2013 12:34:40 -0400): Does this apply to owner operators who lease to a broker?Corey MacQueen (Sat, 21 Dec 2013 16:44:29 -0500): You don't lease to a broker, you lease to a carrier, correct?James R. Crayton Sr. (Sun, 02 Feb 2014 23:37:05 -0500): What advtce can you give to someone new to freight brokering ?JW Surety Bonds (Mon, 03 Feb 2014 10:05:25 -0500): James, Thank you for contacting us. General information on the industry can be searched for online as there are many resources including training schools you will find there. If you need help getting licensed as a freight broker, visit the FMCSA's website, www.fmsca.dot.gov. In order to be licensed, you will need to provide proof of financial responsibility with a trust fund or surety bond. If you need help getting bonded, you can apply directly on our website and receive a quote at https://www.jwsuretybonds.com/protools.htm. Good luck with your new business venture! Please let me know if you have further questions. Jobey Flowers (Tue, 08 Apr 2014 13:06:07 -0400): Can anyone give me any advice on the freight brokering? Im going to take a week class and start this way..JW Surety Bonds (Tue, 08 Apr 2014 15:31:52 -0400): Jobey, Our website has extensive information on the freight broker industry as well as freight broker bonds, which we offer in all 50 states. You may want to start by viewing our video entitled "How to Get Your Freight Broker License" at http://www.jwsuretybonds.com/info/videos/license-permit/become-licensed-freight-broker.htm. You will also find this video by visiting our home page and clicking the tab "Learn" and then "Video Library". You will find other videos in the library such as "Why You Need to Avoid Claims at all Costs" which is very important to freight brokers. Also under the "Learn" tab you can navigate to "Surety Bond News", and find recent and archived articles on the freight broker industry. Go to "Popular Posts" and click "Categories" for articles on everything from the top five blog resources for freight brokers and truckers to the latest statistics on trucking in the U.S. Your registration as a freight broker begins with your online application on the Federal Motor Carrier Safety Administration website, www.fmcsa.dot.gov/. Before you can operate as a freight broker, you will need to secure a freight broker bond. There is our area of expertise, and we are happy to assist you with your bonding needs. You may apply directly on our website for a freight broker bond and receive a quote at https://www.jwsuretybonds.com/protools.htm. Feel free to contact us again with any questions. You may also call us toll-free at 1-888-592-6631. Good luck with your new venture.

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