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How much does a freight broker bond cost?
You pay an annual premium, not the $75,000 penal sum. Premiums start at 1%, based on creditworthiness and financial statement strength. The full pricing mechanics are on the cost page.
Do I need an MC number before applying?
No. Apply and be approved first; the MC number is needed only for the electronic filing. The approval waits until your FMCSA registration completes. The full sequence is in the authority guide.
What happens if my bond lapses?
Cancellation or expiry notice starts a countdown to revocation of authority, and a lapse in the FMCSA record follows your MC number permanently. Renew early; when switching sureties, overlap the filings.
Is the bond insurance for my brokerage?
No. It protects the carriers and shippers you contract with. Every dollar the surety pays on a valid claim, you reimburse under the indemnity agreement. See how claims work.
Should I use the BMC-85 trust fund instead?
Usually not — the trust immobilizes $75,000 for the life of your authority to avoid a premium that starts at 1%. The narrow cases where it makes sense are covered in BMC-84 versus BMC-85.
Can I get bonded with bad credit?
Yes. Non-standard program access exists precisely for impaired-credit files. Structure the submission per the bad credit page and it gets underwritten, not discarded.
Do forwarders need the same bond as brokers?
Surface forwarders carry the same $75,000 FMCSA security plus cargo insurance filings; see the forwarder page. Ocean forwarders and NVOCCs bond separately with the FMC on Form FMC-48.
How fast is the bond filed after approval?
Electronically against your MC number, generally the same business day the bond is approved and paid.
Is $75,000 the limit per claim or in total?
In total. The penal sum is aggregate across all claimants for the bond term. When a failing broker's unpaid carriers collectively exceed $75,000, the surety may interplead the penal sum and claimants share pro rata; see how claims work.
Does the bond cover cargo loss or damage?
No. The BMC-84 answers non-payment for transportation services. Cargo claims run against the carrier and its cargo insurance, or against a forwarder's own liability and BMC-34 filing; see the forwarder page for how possession changes the liability stack.
Do I need a separate bond in each state?
No. The BMC-84 is a single federal filing covering interstate operations nationwide. State-level registrations and taxes may apply to the business, but the financial security requirement for brokerage authority is federal and singular.
Can I hold broker and forwarder authority at the same time?
Yes, and each authority requires its own $75,000 security filing; the FMCSA does not merge them. Both filings can be underwritten in a single file on one financial review.
Question not answered?
Ask an underwriter directly. Thirty years in the class means the answer is usually one call away.