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    What is a BMC-84 Bond?

    A BMC-84 bond is a specific type of surety bond required for freight brokers in the United States. The term "BMC-84" is derived from the form number assigned by the Federal Motor Carrier Safety Administration (FMCSA), which is the federal agency responsible for regulating and overseeing the transportation industry. This bond is also known as a freight broker bond.

    What is a Freight Broker Bond

    A freight broker bond, also known as a BMC-84 bond, is a type of surety bond required by the Federal Motor Carrier Safety Administration (FMCSA) in the United States for individuals or companies that operate as freight brokers or property brokers. This bond serves as a form of financial protection for shippers and carriers in the event that the broker fails to fulfill their contractual obligations, such as payment to carriers. The bond functions as a guarantee that the broker will comply with all federal regulations and pay carriers for their services. If a broker does not fulfill their obligations, carriers can file a claim against the bond to receive compensation for unpaid freight charges.

    BMC-84 vs BMC-85: What is Right For You?

    BMC-84 Features

    • The BMC-84 bond requires a minimum bond amount of $75,000.
    • With a BMC-84 bond, the broker's own assets and credit are involved in covering any claims against the bond.
    • The cost of the BMC-84 bond is typically a premium paid to the surety company, and it can vary depending on the broker's financial situation and creditworthiness.

    BMC-85 Features

    • The BMC-85 bond also requires a minimum bond amount of $75,000.
    • With a BMC-85 bond, the broker establishes a trust fund account with the FMCSA, and the assets in this account are used to cover any claims. This bond option doesn't involve the broker's personal assets or credit.
    • While there are administrative costs associated with maintaining the trust fund account, there is no premium to be paid to a surety company.

    How to Get a Freight Broker Bond

    Determine Bond Requirement

    First, check whether you are required to have a BMC-84 bond. If you're operating as a freight broker in the United States, it's likely that you'll need this bond. The Federal Motor Carrier Safety Administration (FMCSA) mandates it.

    Apply for the Bond

    Once you've chosen a surety company, you'll need to complete their application process. This typically involves providing information about your business, your financial history, and other relevant details. The surety company will assess your creditworthiness during this process.

    Frequently Asked Questions

    1Why do you need a $75,000 BMC-84 or BMC-85 Freight Broker Bond?
    The FMCSA requires you to have this financial guarantee in place to ensure the Motor Carriers that you contract with get paid to move the load. If you fail to pay the Motor Carrier for the load moved per the contract, the carrier may contact your bond provider and file a claim against your bond to get paid for that load.
    2This is the 2nd How do you apply for a BMC-84 or BMC-85 with PFA?
    Simply fill out our online application and we will have an approval for you within a couple of hours! Or, call us at 800-595-2615 and speak with one of our experienced sales representatives. They will be able to go over our options with you, e-mail our broker information packet which contains our application to you, and then help you fill it out. We are here to assist you every step of the way.
    3If you have less than perfect credit, can you still get approved?
    We are almost always able to approve you on some basis. We are more than willing to work with you to try to come up with an affordable solution! Being the only company to offer both BMC-84s and BMC-85s, we have unequaled ability to find a solution to get you approved and on your way to being an active freight broker. Your approval from PFA is good for 6 months from your approval date.
    • Shane Black
      FRC Logistics has its BMC-85 with PFA because, like us, PFA cares about their customers. We have had our bond with them for several years and plan on keeping it there. Freight Rate Central specializes in the freight shipping & transportation of all shapes and sizes nationwide. We provide a convenient and easy to use online freight quoting tool that allows you to get instant online freight rates, trucking rates, and a variety of other freight shipping options.
      Shane Black
      FRC Logistics Inc
    • Ann Adams
      Thank you so very much for your encouraging words! As a very small broker I am relieved that you are optimistic about the future of my business and fortunate that I have PFA as a partner!
      Ann Adams
      360 Auto Transport
    • Tom Miller
      You were good enough to help us get our business started in 2004 and we appreciate that very much. I am a very loyal person to those that have helped us. We are with you for the long run.
      Tom Miller
      Tailwind Logistics, LLC
    • Bobbye Marcove
      We have been with PFA for over ten years. During that time we have always found them to be professional and competent. They address our needs in a very timely basis and found them to understand the broker’s situation very clearly. We enjoy working with them very much.
    • Marc Bostwick
      PFA works great with TQL. The company is very fair and impartial in its decisions on disagreements, and the staff is very conscientious and prompt to handle anything that comes up. PFA maintains TQL’s bonding capacity of more than twice the legal requirement.
      Marc Bostwick
      Total Quality Logistics
    • Steven J. Turows
      We have been extremely pleased with PFA’s response to our brokerage needs. You have performed in an outstanding manner during the time in which we have needed to contact you. We are completely happy and have absolutely no intention to change!
      Steven J. Turows
      Koleaseco Logistics Inc.