Davenport, Iowa FREIGHT BROKER BONDS
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A property or freight broker is among of more than a few classes of companies certified by the Federal Motor Carrier Safety Administration (FMCSA). A “broker” is a transport intermediary that specializes in pairing a client (“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 need:
- For brokers of property: A surety bond (Form BMC-84) in the sum 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.
- White Lion provide efficient service and the lowest rates on Davenport, Iowa Freight Broker Surety Bonds.