As of 03/01/2025, we are no longer actively writing Freight Broker Bonds.  If you have any questions, please call 800-737-4880

The Federal Motor Carrier Safety Administration (FMCSA) requires all freight brokers and freight forwarders to be licensed and file a surety bond in order to operate. Both brokers of property and brokers of household goods are required to provide a $75,000 Surety Bond (Form BMC-84)or a Trust Fund Agreement (Form BMC-85), failure to comply can result in fines.

Do I need an MC# to apply?

The short answer is no, you do not need an MC# to apply. You will need an MC# once the bond is issued as these bonds are filed electronically. Once your bond is approved and paid for, we will file your bond with the FMCSA and provide you with a copy via email.

What Does a BMC-84 Bond Cost?

Currently several companies that write these bonds are pulling out of the industry due to increased claims activity and overwhelming fraud in the freight broker industry.  Rates and underwriting requirements have increased significantly due to the increased costs to the surety companies.  

New freight broker?  You can expect to post a portion of the bond amount (typically a minimum of $25,000) as collateral to the surety and to pay a significantly higher rate.  

Rates for existing businesses with 2+  years of business experience, no open or previous bond claims with good, clean personal credit can expect rates starting from $938.00 per year.  

Prequalification Standards for all BMC84 Bonds

• No Unpaid personal or business collections on credit reports
• No Personal or Business Bankruptcies within the last 7 years
• No Unpaid Tax Liens
• No Unsatisfied personal or business Judgments
• No Unpaid Alimony or Child Support Payments
• Indemnity of the Principal, business, affiliates, and spouse required
• US citizen or have a green card/permanent resident card (copy required)
• Copy of front and back of driver’s license.
• Transportation brokers use Standard Broker-Carrier Agreements
• Transportation broker must have been in business for at least 2 years (not including individual experience at other companies)

The BMC-84 surety bond cost will depend on the personal credit of the business owner(s), business credit (if any) and their experience in the industry.

How can I get a lower Freight Broker Surety Bond rate?

As with any business, the bond rate is dependent on the following factors:

• Personal Credit of the owners
• Years in business/business experience
• Business Credit Report

You can attempt to secure a lower rate by providing business (and sometimes personal) financial statements to display financial stability to the surety company.  Additionally the surety companies are looking for established businesses that have the internal measures in place to prevent/manage any claims activity before they have to get involved.

Can I Get a Freight Broker Bond with Bad Credit?

We can issue Freight Brokers and Forwarders Surety Bonds for 99% of the applicants no matter what their credit report looks like! Our Bad Credit Surety Bond program rates allow you to get your bond issued, regardless of your credit report! Unfortunately, applicants who have distressed credit can expect to pay a significantly higher rate with the likelihood of posting a percentage of the bond amount as collateral with the surety.

Be sure to visit the Federal Motor Carrier Safety Association for more information on How to Become a Freight Broker. The FMCSA monitors and ensures compliance with state and federal motor carrier safety and commercial regulations.