BMC-84 Freight Broker Bond

$75,000 Bond – Quotes From $938, Collateral Likely

The FMCSA requires a $75,000 BMC-84 surety bond before it will issue freight broker or forwarder authority, under 49 CFR 387.307. Premiums start at $938 with good credit; new brokers should expect collateral. Underwritten with an application and credit check.

Click for a No Obligation Quote

$75,000
Bond Amount (Federal)
From $938
Annual Premium
Likely
Collateral Required
Continuous
Bond Term


The BMC-84 Freight Broker Bond — also called the freight broker bond, the property broker bond, the BMC-84 bond, the transportation broker bond, the ICC broker bond, the freight forwarder bond, the $75 or the 000 broker bond — is a $75,000 surety bond required by Federal Motor Carrier Safety Administration (FMCSA), U.S. Department of Transportation for operating as a licensed freight broker or freight forwarder in the United States. It guarantees the broker will promptly pay the motor carriers and shippers it works with and will carry out its contracts, as required by 49 CFR 387.307. The premium is quoted individually based on your credit and the bond amount, with quotes starting around $938 — quotes are free, and all credit types can apply.

How Pricing Works

There is no one-size-fits-all price for this bond. The premium is a percentage of the $75,000 bond amount, based primarily on the applicant's personal credit, with premiums starting around $938. Most applicants pay Roughly 1% to 12%+ of the $75,000 bond amount per year, depending on personal credit, business financials, and industry experience. New or credit-challenged brokers are commonly required to post collateral (often around $25,000).. Quotes are free, carry no obligation, and all credit types can apply.

Learn More

I am an ...

Most Obligee's require that the name on the Bond EXACTLY match your license or license application.
Type of Entity
Has the business or any of the owners been involved in:

If there are documents that you would like to upload for our review, please upload them below

By submitting this Application, the owners listed above hereby authorize BondAbility, (including any of its representatives affiliates, agents or designees) to conduct any and all investigative inquiries including but not limited to obtaining consumer credit reports. Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false, incomplete, or misleading information, or conceals information concerning any material fact whereto, commits a fraudulent insurance act, which is a crime punishable by incarceration, and shall also be subject to civil penalties

Who Needs This Bond?

Every licensed property broker and freight forwarder operating in interstate commerce. The FMCSA requires the $75,000 bond on file before it will issue broker operating authority, and it must stay in place continuously for as long as the authority exists. A broker may instead file a BMC-85 trust fund, but that ties up the full $75,000 in cash, so most brokers choose the BMC-84 bond.

Who May Not Need This Bond

Not everyone has to post this bond — you may not need it at all. In plain terms:

There is no waiver of the financial-responsibility requirement itself — but a broker can satisfy it in one of two ways: a BMC-84 surety bond (pay an annual premium) or a BMC-85 trust fund (deposit the full $75,000 in cash). Most brokers choose the BMC-84 to keep their capital free. Motor carriers operating under their own authority need different filings; the BMC-84 is specifically the broker and freight-forwarder bond.

Why Is This Bond Required?

The BMC-84 is the surety bond the federal government requires before anyone can operate as a licensed freight broker or freight forwarder in the United States. Under 49 CFR 387.307, the Federal Motor Carrier Safety Administration will not issue broker operating authority until a $75,000 bond (or an equivalent BMC-85 trust fund) is on file, and that security must stay in place continuously for as long as the authority exists. The bond guarantees that the broker will promptly pay the motor carriers and shippers it works with and will carry out its contracts and agreements.

The bond protects carriers and shippers, not the broker. If a broker fails to pay a carrier for a completed load, or otherwise breaches its obligations, the harmed party can file a claim against the bond and recover up to the full $75,000. The surety pays valid claims, and the broker must then reimburse the surety in full. Because a single unpaid-freight dispute can expose the entire bond amount, sureties underwrite these bonds carefully — which is why credit, financials, and experience all factor into the premium, and why new brokers are frequently asked to post collateral.

The $75,000 bond amount is the coverage guaranteed to Federal Motor Carrier Safety Administration (FMCSA), U.S. Department of Transportation — it is not a cost to you. What you pay is the premium, which is only a small percentage of that amount.

How to Get Your BMC-84 Freight Broker Bond

  1. Complete the short application below. It takes just a few minutes — the basics about you and your business. Applying is free and does not commit you to anything.
  2. Receive your free quote. The premium is a percentage of the bond amount, based mainly on personal credit — most applicants pay Roughly 1% to 12%+ of the $75,000 bond amount per year, depending on personal credit, business financials, and industry experience. New or credit-challenged brokers are commonly required to post collateral (often around $25,000).. All credit types can apply.
  3. Pay your premium. Approve the quote and pay online or by phone at 800-818-3940.
  4. Receive and file your bond. Your bond is emailed ready for signature — sign it and file it with Federal Motor Carrier Safety Administration (FMCSA), U.S. Department of Transportation.

Bond Details at a Glance

  • Bond Name: BMC-84 Freight Broker Bond
  • Also Known As: freight broker bond, property broker bond, BMC-84 bond, transportation broker bond, ICC broker bond, freight forwarder bond, $75, 000 broker bond
  • Bond Amount: $75,000
  • Premium: Quoted on application, from $938 — typically Roughly 1% to 12%+ of the $75,000 bond amount per year, depending on personal credit, business financials, and industry experience. New or credit-challenged brokers are commonly required to post collateral (often around $25,000).
  • Term: Continuous — must stay in effect for as long as broker authority exists; renewed annually by premium
  • Obligee: Federal Motor Carrier Safety Administration (FMCSA), U.S. Department of Transportation, Filed electronically with FMCSA — no paper bond is mailed. (FMCSA HQ: 1200 New Jersey Ave SE, Washington, DC 20590)
  • Governing Law: 49 CFR 387.307; 49 U.S.C. 13906 (amount set by MAP-21, eff. Oct 1, 2013)
  • Exemptions: Available — see "Who May Not Need This Bond" above
  • Underwriting: Free quote based on personal credit and bond amount — all credit types can apply
  • Delivery: Emailed directly to you, ready for signature

Frequently Asked Questions

How much does a BMC-84 freight broker bond cost?
The bond amount is $75,000, but you don't pay that — you pay an annual premium, a percentage of the bond based on your credit and financials. Premiums start around $938 per year for well-qualified applicants and rise from there.

Will I need collateral?
Very likely, if you're a new broker or haven't held valid FMCSA authority before. Collateral (often around $25,000) is commonly required for first-time or credit-challenged applicants because these bonds carry real risk for the surety.

What is the BMC-84 and who requires it?
It's the $75,000 freight broker surety bond required by the FMCSA under 49 CFR 387.307. Every property broker and freight forwarder must have it on file before the FMCSA will issue operating authority.

What's the difference between a BMC-84 and a BMC-85?
Both satisfy the $75,000 requirement. The BMC-84 is a surety bond where you pay an annual premium; the BMC-85 is a trust fund where you deposit the full $75,000 in cash. Most brokers choose the BMC-84 to keep their capital available.

What happens if my bond lapses?
It's serious and fast. If your financial security drops below $75,000, the FMCSA immediately suspends your operating authority, and if a replacement bond isn't filed within the 30-day cancellation window, your MC authority is revoked.

Who does the bond protect?
Carriers and shippers — not the broker. If a broker doesn't pay a carrier for a load, the carrier can claim against the bond for up to $75,000. The broker must then repay the surety for whatever it pays out.

How is the bond filed?
Your surety files the BMC-84 electronically with the FMCSA. You don't mail a paper bond — the filing is what satisfies the FMCSA's financial-responsibility requirement for your broker authority.

How long does the bond last?
It's continuous. It stays in effect for as long as you hold broker authority, and you renew it each year by paying your premium. There's no fixed expiration date.

Do I qualify for an exemption from this bond?
Possibly — not everyone has to post it. There is no waiver of the financial-responsibility requirement itself — but a broker can satisfy it in one of two ways: a BMC-84 surety bond (pay an annual premium) or a BMC-85 trust fund (deposit the full $75,000 in cash). Most brokers choose the BMC-84 to keep their capital free. Motor carriers operating under their own authority need different filings; the BMC-84 is specifically the broker and freight-forwarder bond. If you qualify, you don't need to buy the bond at all; check with Federal Motor Carrier Safety Administration (FMCSA), U.S. Department of Transportation before purchasing.

Additional Resources

Click for a No Obligation Quote