A Transportation Broker Surety Bond is bond required by the Federal Motor Carrier Safety Administration (FMCSA). It is required of any individual or business who wants to operate as a transportation broker for the FMCSA. The bond guarantees that the principal will pay replacement shippers and motor carriers if they fail to carry out their transportation contracts with the FMCSA. Because these bonds are strict financial guarantee surety bonds and because they have suffered poor claims ratios in recent years, they are difficult to place. Thus, most surety carriers will only write them for customers with excellent credit and finials, otherwise they may require the bond be collateralized. Please contact us directly to see if we can assist you with this type of bond.
These bonds are alternatively known as ICC Broker Surety Bonds, BMC-84 Surety Bonds, Freight Broker Surety Bonds and Property Broker Surety Bonds.