What is a Freight Broker Bond?
A freight broker bond is required by the Federal Motor Carrier Safety Administration (FMCSA) in order to legally operate as a transportation broker. Other names for this bond are BMC-84, ICC Bond (this bond was previously a required of the ICC), and a Property Brokers Surety Bond. The FMCSA also allows brokers to submit the BMC-85 trust fund in lieu of a bond. However, our agency only recommends brokers make use of the BMC-85 trust fund if they do not qualify for the bond. Current Market: A large amount of bond claims over the years has caused bonding companies to consider Freight Broker Bonds extremely risky. Most sureties require 100% collateral in order to consider this bond. Fortunately, JW Bond has several specialty programs that can place the bond with no collateral. Special Programs: JW Bond offers the BMC-84 Bond with no collateral to applicants who qualify. Most bonding companies require Freight Broker bonds to be fully collateralized, but our bulk volume allows us to place th
