$75,000 federal surety bond (Form BMC-84) required by the Federal Motor Carrier Safety Administration (FMCSA) of every licensed property broker and freight forwarder — required for California-based brokers and brokers nationwide.
The freight broker bond is a federal requirement under 49 U.S.C. §13906, set at $75,000 by the MAP-21 transportation legislation. It is filed with FMCSA on Form BMC-84 and protects motor carriers and shippers from financial loss caused by:
The bond runs continuously until canceled. FMCSA requires 30 days' written notice from the surety before any cancellation, during which time the broker must replace the bond or face immediate loss of MC authority.
Trucking companies operating their own equipment (motor carriers) do not need the broker bond unless they also broker freight for other carriers.
Freight broker bond premiums are heavily credit-driven. Top-credit brokers pay around 1.25%; challenged-credit applicants may pay 8–13%:
| Credit Profile | Annual Premium | Approx. Rate |
|---|---|---|
| Excellent Credit | $938 – $1,500 | 1.25% – 2% |
| Good Credit | $1,500 – $2,250 | 2% – 3% |
| Fair Credit | $2,250 – $3,750 | 3% – 5% |
| Credit Challenges | $3,750 – $7,500 | 5% – 10% |
| Past Credit Issues | $7,500 – $10,000+ | 10% – 13%+ |
The BMC-84 freight broker bond is continuous — it remains in force until canceled by the surety or broker with 30 days' notice to FMCSA. Premium is billed annually. Letting the bond lapse for any reason results in immediate suspension of MC authority and removal from FMCSA's licensed broker list.
BMC-84 is a surety bond (you pay annual premium, surety guarantees up to $75,000). BMC-85 is a trust fund where you deposit the full $75,000 in cash with a financial institution. Most brokers choose BMC-84 because it preserves working capital.
No. The $75,000 amount is set by federal statute (MAP-21, 2013) and is uniform regardless of broker size or volume.
The surety investigates. If the claim is valid (e.g., unpaid invoice with proper documentation), the surety pays the carrier up to the bond limit and you must reimburse the surety. Multiple claims often trigger non-renewal.
Yes — freight forwarders file the same BMC-84 at the same $75,000 amount under the same FMCSA rules.
Apply in 2 minutes. Most quotes returned same day.
Start Your ApplicationRelated: All California surety bonds · What is a surety bond? · How surety bond costs are calculated