November 16, 2020
Freight Broker Surety Bonds – BMC-84
Reliance Partners has a full offering of services to freight brokers. Freight brokers are required to maintain a surety bond per the BMC-84 program. This is a federal requirement from FMCSA in order to operate as a transportation broker within the United States. The bond service as a payment guarantee up to its limits that guarantees payment to motor carriers and shippers if a broker does not comply with its contracts and agreements.
In 2013, MAP-21 raised the required bond limit for transportation property brokers and freight forwarders to $75,000 (formerly $10,000). Reliance Partners can turn around your quote for a surety bond quickly. Reach out to one of our agents today to learn more.