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BMC-84 Surety Bond Requirements
The BMC-84 surety bond is required by the Federal Motor Carrier Safety Administration (FMCSA) for freight brokers and freight forwarders. This bond ensures that brokers and forwarders fulfill their financial obligations to motor carriers and shippers.
The minimum bond amount is $75,000. Freight brokers and forwarders must maintain this bond to keep their operating authority active with the FMCSA.
Obtaining a BMC-84 Bond
To obtain a BMC-84 bond, freight brokers and forwarders can work with a surety company like Single Source Surety. The application process typically involves a credit check and financial review.
Once approved, the surety company will file the bond with the FMCSA on behalf of the freight broker or forwarder. The bond must be renewed annually to maintain compliance.
