Bmc-85

[Redbull]

Hello,
I am trying to decide whether or not I should obtain the BMC-84 bond or go with the BMC-85 (trust fund) Will the BMC-85 be more expensive? Will I have to post the total $10,000 with ICC?

[don jipping]

As far as expense goes, you have to look at the big picture.
The bond is going to have a premium every year. Right now, I know of one company that is charging $1250 yr. But, your not putting up 10k(if qualified).

The trust account you can do in installments, and the money iin the trust is an asset of your company(but not liquid). Trust plans cost $495-$950 for the 1st year. Every year after should be less.

Every situation is different, be sure to speak to both a bond company and a financial institution recognized by the FMCSA to file the trust on your behalf, and draw your own conclusions.

Whatever you do....DO NOT....DO NOT... send the FMCSA 10k or a letter of credit. They are not claims processors and will not work in your behalf. Think about it, would you send Washington DC a check for $10,000?

Don