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If you are a new freight broker or freight carrier, you will need to file either a trust fund agreement (BMC-85) or an ICC Freight Broker Bond (BMC-84).
The Federal Motor Carrier Safety Administration (FMCSA) has set the bond amount at $75,000.
Previously, freight brokers could file a $10,000 bond, but with the new transportation law, Moving Ahead for Progress in the 21st Century (MAP-21), the bond amount is now $75,000.
How Much Will I Pay For a $75,000 ICC Freight Broker Bond?
You will not have to pay the full $75,000 to get bonded. You just need to pay a small one-time portion of this amount.
If you choose to get your ICC Freight Broker Bond with Surety Solutions, you could pay as little as $938 for your bond.
To see what you'd pay for your bond, get a free quote below:
How is my Rate Determined?
The price you pay for your ICC Freight Broker Bond (BMC-84) is based largely on your credit score. If you have good credit, you could get bonded for as low as $938. If you have bad credit, you will have to pay more.
Nervous about your credit? We have bad credit options.
To get a bad credit quote, complete our online ICC Freight Broker Bond application.
Other evaluation points include:
- how long you have been in business
- your business experience
- the financial strength of your company
If you are new to business, expect to pay a little more for your bond the first year.
Why Choose Surety Solutions for your ICC Freight Broker Bond?
Why choose us? We work hard to get you the best rate.
Another reason to choose us: we will electronically file your ICC Freight Broker Bond with the FMCSA, so you won’t have to deal with any extra paperwork.
Once the FMCSA approves your bond, you will be able to view your bond coverage online within 24 hours.
Related Links:
Everything You Need To Know About Freight Broker (ICC) Bonds
