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Thread: What is?

  1. Pacman
    Pacman is offline Junior Member
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    What is?

    what is a ICC Bond and who requires it?
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  2. PT
    PT is offline Member
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    ICC Bonds

    Quote Originally Posted by Pacman
    what is a ICC Bond and who requires it?
    An ICC bond is required by the Federal Motor Carrier Safety Administration (FMCSA) in order to legally operate as a transportation broker. Other names for this bond are BMC-84, Frieght Broker Surety Bond, and a Property Brokers Surety Bond.
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  3. james scott
    james scott is offline Junior Member
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    Quote Originally Posted by Pacman
    what is a ICC Bond and who requires it?
    This coverage is for unpaid freight charges only. If the broker fails to pay the carrier, if the carrier has fulfilled his broker-carrier contract and not been paid by the broker in the agreed upon time, they may then file a claim.
    This coveraged may be in the form of a BMC-84 Broker Bond or a BMC-85 Broker Trust Fund. Either will satisfy the FMCSA's (ICC) compliance guidelines.

    James
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