Freight Broker Bond
What is a Freight Broker Bond?
A Freight Broker Bond is a type of License & Permit bond that ensures that freight brokers comply with regulations and pay carriers and shippers as required.
Protects carriers and shippers from financial loss due to broker non-payment or non-compliance.
Required by the Federal Motor Carrier Safety Administration (FMCSA) for freight brokers to operate legally.
Applicant’s personal or business information, credit history, bond amount, and broker license details.
Based on credit history and bond amount, usually 1-5% of the bond amount (a $75,000 bond is required by the FMCSA).
