What Is a Surety Bond in 3 Minutes | Surety Bonds Simplified | SuretyBonds.com
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FMCSA requires $75,000 financial security to operate as a freight broker in the US/Canada. Learn two options: BMC-84 surety bond (yearly premium to bonding company) vs BMC-85 trust fund (full $75,000 cash deposit). Most new freight brokers choose the BMC-84 bond due to the lower upfront cost vs the trust fund that ties up capital. Bond protects carriers and shippers if the broker doesn't pay. Must be filed directly with FMCSA before authority becomes active. Compare bonding companies and applica
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