Freight Broker Bond (BMC-84)

Formerly known as the Interstate Commerce Commission bond, or ICC Bond, the Freight Broker bond is required to legally operate as a transportation broker. These bonds are also commonly known as BMC-84, and property broker surety bonds. The FMCSA also allows brokers to submit a BMC-85 trust fund in place of a bond. Bryant Surety Bonds, Inc only recommends submitting the BMC-85 trust fund if they do not qualify for a BMC-84 freight broker bond.

There are two main advantages of the freight broker bond when compares to the BMC-85 trust. First the bond typically allows you to keep more capital in your business as all that is required is a yearly premium as opposed to a $10,000 trust. Secondly, should a claim arise the surety will investigate to ensure the claims validity, with the BMC-85 often times the money is just withdrawn from the trust when the claim is filed.

Due to a high amount of bond claims over the last several years, these bonds are considered high risk and most sureties require 100% collateral. Due to several well-established relationships in the surety industry, Bryant Surety Bonds can place these bonds with no collateral for most applicants. In order to receive the best quote possible, business financials for established businesses or a Resume/Business plan for new companies may be requested. The Freight Broker Bond is the only bond we offer that is not actually issued on a physical form. Instead we will notify the FMCSA electronically of the bond, and they will update their official web site with your bonded status. An MC number will be required at the time of issuing.

For those with questionable credit, and do not qualify for the standard market, a high-risk surety bond market exists for freight brokers. This program charges higher rates than the standard market.

Popular Freight/Transportation Broker Bonds by State

• Bond: Freight Broker Bond
• Obligee: Federal Motor Carrier Safety Administration
  1200 New Jersey Avenue
  SE, Suite W60-300
  Washington, DC 20590
• Form: BMC-84 (electronically filed with the FMCSA)
• Amount: $10,000