BMC-84 FREIGHT BROKER BOND
A property or freight broker is one of several classes of companies licensed by the Federal Motor Carrier Safety Administration (FMCSA). A “broker” is a transport intermediary that specializes in pairing a customer (“shipper”) that needs to move property or persons and a “carrier” that is able to move property or persons. As with all regulated activities, there are requirements for participating in the sector.
FREIGHT BROKER APPLICATION REQUIREMENTS
Brokers registering for the first time must complete an online applicant for broker authority and be issued an “MC” number by the FMCSA.
After registration, the FMCSA will require:
- For brokers of property: A surety bond (Form BMC-84) in the amount of $75,000.
- For brokers of household goods: A surety bond (Form BMC-84) in the amount of $75,000.
- Form BOC-3, designation of the process agent for the applicant firm.
- $300 application fee.