Freight Broker Bond Cost
If you're starting a freight broker business, you're required to provide proof of financial responsibility in the form of a surety bond or trust fund.
You probably know the names as a freight broker bond or BMC-84 and the BMC-85.
BMC-84 surety bond is typically the best choice. And in this video you'll learn how much a freight broker bond costs so you know what to expect.
Video Timestamps:
- 00:14 - How much does a surety bond cost
- 00:27 - Factor 1 personal credit and experience
- 00:40 - Your personal credit
- 00:51 - Your business experience
- 01:10 - Any prior bond claims
- 01:24 - Examples with real numbers
- 02:07 - Factor 2 who you work with to get your bond
- 02:45 - Video recap
Make sure to read our other freight broker resources:
- Learn about freight broker insurance requirements
- Learn about the freight broker license cost
- Learn about the freight broker's average salary
- Learn the detailed license process for freight brokers
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