A freight broker bond (BMC-84) is a financial guarantee required by the Federal Motor Carrier Safety Administration (FMCSA) to ensure freight brokers comply with federal regulations and protect shippers and carriers from financial losses due to broker misconduct. When a carrier withdraws from the surety bond market, freight brokers must act quickly to secure a new bond to maintain compliance and avoid disruptions to their business operations.
BOSS Bonds provides over 40 years of experience in the freight broker industry, helping brokers navigate the complexities of securing a new bond.
With relationships with over 25 carriers, BOSS Bonds shops for the best rates to ensure brokers receive the most value.
A user-friendly online application simplifies the process, saving brokers time and hassle.
BOSS Bonds ensures brokers meet FMCSA requirements, protecting their MC Authority and business operations.
BOSS Bonds provides surety bonds across all 50 states, ensuring brokers can operate legally wherever they do business.
Don’t wait to secure your new freight broker bond! Partner with BOSS Bonds for competitive rates, fast approvals, and expert support. Contact us today to protect your MC Authority and keep your business compliant.
A freight broker bond (BMC-84) is mandated by the FMCSA to ensure brokers adhere to federal regulations, protect shippers and carriers, and maintain their Motor Carrier Operating Authority (MC Authority).
Carriers may withdraw due to financial instability, a history of claims, changes in underwriting criteria, non-payment of premiums, or fraudulent activity. Some carriers may also exit the market entirely, creating uncertainty for brokers.
A lapse in bond coverage can result in fines, loss of MC Authority, and disrupted business operations. Brokers must act quickly to secure a new bond to avoid these consequences.
Assess Your Situation: Review the cancellation notice and address any underlying issues. Research Bond Providers: Choose a provider with industry experience, transparency, and a user-friendly application process. Apply for a New Bond: Complete the application accurately and address past issues proactively. Review and Sign the Bond Agreement: Understand the terms and conditions before signing. Maintain Your New Bond: Pay premiums on time, stay compliant with FMCSA regulations, and maintain open communication with your bond provider.
BOSS Bonds offers competitive rates, a fast online application process, and expert support to help brokers secure new bonds and stay compliant with FMCSA regulations.
