Despite MAP-21 and the $75,000 bond requirement that went into effect Oct. 1st, 2013, freight broker filings have continued to increase. In fact, broker registrations are the highest they have… Read more »
Surety Bonds Blog
Many within the transportation industry have argued that MAP-21’s bond increase to $75,000 would put many brokers out of business due to an unobtainable bond requirement. According to statistics provided… Read more »
BMC-85 trusts can be a nice stable solution for freight brokers that are financially strong enough to be capable of parting with $75,000. Putting up that kind of money is… Read more »
The FMCSA has stated it will not allow freight brokers to legally operate without a freight broker bond or trust in place. Because of the confusion surrounding the 60-day grace… Read more »
Freight brokers throughout the country are beginning to receive “Revocation of Authority” letters from the FMCSA. There is no need to panic, as this is all part of the process… Read more »
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.