Freight Broker Bonds
As of 10/1/13, THE FREIGHT BROKER BOND MUST BE $75,000.
A freight broker must have a surety bond in the amount of $75,000. The Federal Motor Carrier Administration (FMCSA) will not issue a broker license until a surety bond, or $75,000 cash, is provided to the FMCSA. The broker license shall remain valid or effective only as long as a surety bond or cash deposit remains in effect and shall ensure the financial responsibility of the broker by providing for payments to shippers or motor carriers if the broker fails to carry out its contracts, agreements, or arrangements for the supplying of transportation by authorized motor carriers.
Because this bond is considered very high risk, many surety companies will not write it. However, we work with a number of sureties that do write this bond in order to obtain the best possible pricing for you. Please contact us today with your questions about Freight Brokers Bonds. Nations Surety's bond experts are here to serve you.