Freight Broker Bonds 101
Thinking about becoming licensed with the FMCSA as a freight broker or freight forwarder? An essential part of the licensing process is purchasing a $75,000 surety bond (BMC-84). Here’s what you need to know to start the process and get your license quickly. We cover what a freight broker bond is and who needs one, how they work, how to apply with a surety provider like ZipBonds, and how to get your license once you’ve been approved for a bond!
Your Guide to BMC-84 – ICC bonds
The Federal Motor Carrier Safety Administration (FMCSA) requires U.S. freight brokers to obtain a surety bond or trust fund agreement to get licensed. Here’s what you need to know.
What is a freight broker bond?
All U.S. freight brokers and forwarders must obtain a freight broker bond (BMC-84), a $75,000 surety bond. It ensures they operate legally, follow industry standards, and pay motor carriers as agreed — helping prevent fraud and non-payment.
How does a freight broker bond work?
This bond is a contract between three parties:
- Obligee: The U.S. government (FMCSA), which requires the bond
- Principal: The freight broker purchasing the bond
- Surety: The company that issues the bond and ensures claims are paid
To obtain a freight broker bond, you must file Form BMC-84 and pay a premium (a small percentage of the $75,000 bond).
Freight Broker Surety Bond Requirements
To apply for your bond, you may need to provide the following:
- MC number
- Business name
- Contact information
- Years in business
- Residency status
- Ownership details
- Active claims (if applicable)
How to Get Your Freight Broker License
- Register with the FMCSA.
- File your BMC-84 bond.
- Designate a processing agent in each state where you operate.
- Obtain a Unified Carrier Registration (UCR).
- Buy insurance.
Why ZipBonds?
We offer freight broker bonds starting at $938 and have solutions for all credit levels.