- Licensed in MD, PA, VA, OH and FL
- Electronic bond delivery when available
If you are getting broker authority or your freight broker bond is changing, send us your information. We’ll explain the BMC-84 requirement, tell you what the surety needs, and get you a quote.
A freight broker bond is a $75,000 surety bond that brokers and freight forwarders can use to meet FMCSA’s financial security requirement. The bond form is called the BMC-84.
FMCSA lets brokers and freight forwarders meet the $75,000 requirement with either a BMC-84 surety bond or a BMC-85 trust fund agreement. The trust fund option is filed by an eligible financial institution.
This page covers the bond. If you are weighing the two, tell us and we will explain how the bond works so you can decide.
A bond that is canceled or drawn down can put your operating authority at risk. Under FMCSA’s rule, a financial security provider must notify FMCSA within two business days when security drops below $75,000 because of claim payments or an insolvency determination.
If the security stays below $75,000 and the broker does not respond to FMCSA’s notice, FMCSA can suspend the broker’s operating authority. Keep your bond current and answer FMCSA notices quickly.
FMCSA requires property brokers and freight forwarders to have financial security on file. A broker arranges freight transportation without moving the freight itself, so the bond is part of getting and keeping broker authority.
Other FMCSA registration steps are separate from the bond. If you are unsure which apply to you, check with FMCSA or your transportation attorney.
You pay a premium for the bond, not the $75,000. The bond amount is fixed by FMCSA, so differences in price come from underwriting.
The surety looks at factors such as credit, financial history, and experience, and different surety companies can view the same broker differently. We cannot tell you a price until we have your information.
Usually the surety will look at credit and may ask for other information. Credit can affect both approval and price.
If you have credit issues or a prior bond claim, tell us up front. Options can differ from one surety company to another.
Send us the basics. The most useful items are:
It depends. Simple applications can often be completed quickly when the information is clear. Credit issues, a prior claim, or missing information can take longer.
If you are waiting on this bond to activate broker authority or avoid suspension, tell us your deadline when you apply.
If this is not the bond you were asked for, these pages may help.
No. The BMC-84 requirement comes from FMCSA, so the $75,000 federal requirement is the same no matter where your brokerage is located.
Send us your business information or any FMCSA notice you received. We’ll tell you what the surety needs next.
The Bond Agent | 3655A Old Court Rd, Suite 13 | Baltimore, MD 21208
