A freight broker bond, also known as a BMC-84 bond, is a type of surety bond that is required by the Federal Motor Carrier Safety Administration (FMCSA) for individuals or companies that operate as freight brokers. Brokers that operate without the proper bond in place may have their broker license revoked by the FMCSA. The bond requirement is officially documented in Title 49 of the U.S. Code.
The bond amount required is $75,000. The bond is meant to ensure that brokers operate according to industry regulations and offer a financial guarantee to motor carriers/shippers if freight brokers fail to comply with contract agreements.
