BMC 84 Freight Forwarder Bond
Based on Approved Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $75,000 | 1 | Varies |
Fulfill your federal licensing requirement and protect your property brokerage business with our official Form BMC-84 Surety Bond. Designed to satisfy the Federal Motor Carrier Safety Administration (FMCSA) mandatory $75,000 financial responsibility requirement. This surety bond is required and regulated at the federal level by the Federal Motor Carrier Safety Administration (FMCSA) (An agency under the United States Department of Transportation / USDOT).
About FMCSA Freight Broker Surety Bonds
A Form BMC-84 Freight Broker Surety Bond is a federally mandated surety bond required for all registered freight brokers and freight forwarders operating in the United States. Under federal law (49 U.S.C. ? 13906), the FMCSA requires property brokers to maintain financial security to guarantee payment to motor carriers (trucking companies) and shippers in the event of a contractual failure, non-payment, or breach of broker obligations. Licensees can meet their $75,000 financial requirement by either posting a BMC-84 surety bond or establishing a BMC-85 Trust Agreement.
BMC-84 Surety Bonds
The BMC-84 is a surety bond that requires freight brokers to partner with a surety company. The bond acts as a financial safeguard for the timely payment to carriers and shippers. One of the key advantages of the BMC-84 is its lower upfront cost compared to BMC-85. Brokers typically pay a premium, a percentage of the $75,000 bond amount, which varies based on creditworthiness and financial history. Unlike a BMC-85 trust fund—which ties up $75,000 of your working capital in cash—a BMC-84 surety bond allows you to satisfy the FMCSA requirement with a low annual premium payment, keeping your cash flow open for day-to-day operations.
BMC-85 Trust Agreements
As an alternative to posting the BMC-84 surety bond, the BMC-85 Trust Agreement requires brokers to deposit the full $75,000 into a surety trust agreement. This option has lower fees but demands a significant upfront investment. The BMC-85 is ideal for brokers who have a large amount of capital or are unable to qualify for a bond.
Next Steps:
The NNA has aligned with PFA Transportation Insurance & Surety Services to deliver the best-in-class freight broker products to our customers. Complete the quote request form on this page and a licensed representative will contact you shortly to begin the application process.