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Thread: ICC Bonds

  1. Mr. Bond
    Mr. Bond is offline Member
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    ICC Bonds

    Can you tell me the difference between a BMC-84 and a BMC-85?
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  2. Bond Magician
    Bond Magician is offline Senior Member
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    ICC Bonds

    Quote Originally Posted by Mr. Bond
    Can you tell me the difference between a BMC-84 and a BMC-85?
    The BMC-84 is the Surety Bond. It renews every year, and these types of bonds are filed electronically. The BMC-85 is a trust fund posted directly with ICC.
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  3. Surety Queen
    Surety Queen is offline Surety Professional
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    ICC Bonds

    Quote Originally Posted by Bond Magician
    The BMC-84 is the Surety Bond. It renews every year, and these types of bonds are filed electronically. The BMC-85 is a trust fund posted directly with ICC.
    When we write a BMC-84 Freight Broker Bond, there is generally only the annual premium required - no collateral. When the BMC-85 Trust Fund (directly with FMCSA) is issued, you will ultimately be required to post the full $10,000 amount in addition to fees. There are times when the Trust Fund is the best option - like if your personal credit isn't good and you will not qualify for the BMC-84. If you would like to apply for the bond, please feel free to visit the following link: ICC Freight Broker Bonds (BMC-84 Filing & BMC-85 Replacement) - Surety Bond Types
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  4. newbie81
    newbie81 is offline Junior Member
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    Is there a comprehensive source on ICC bonds?
    Where can I find such information?
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  5. Surety Queen
    Surety Queen is offline Surety Professional
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    ICC Bonds

    Quote Originally Posted by newbie81
    Is there a comprehensive source on ICC bonds?
    Where can I find such information?
    Feel free to call our office to speak with the specialist.
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  6. Bond Magician
    Bond Magician is offline Senior Member
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    ICC Bonds

    Quote Originally Posted by Surety Queen
    Feel free to call our office to speak with the specialist.

    You may also want to consider going online and doing a search for ICC bonds. You may find some good information there.
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  7. Surety Queen
    Surety Queen is offline Surety Professional
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    ICC Bonds

    Quote Originally Posted by Bond Magician
    You may also want to consider going online and doing a search for ICC bonds. You may find some good information there.
    If you want really indepth information, you should search for BMC-84 Freight Broker Bonds. The ICC Bond is the old name of this freight broker bond - it was then required by Interstate Commerce Commission, which no longer exists. FMCSA (Federal Motor Carrier Safety Administration) now requires the freight broker bond.
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  8. don jipping
    don jipping is offline BMC-85 Expert
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    Icc/fmcsa

    Thank you Surety Queen for pointing out that the ICC no longer exists and that the FMCSA is now the governing body.

    Don
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  9. Surety Queen
    Surety Queen is offline Surety Professional
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    ICC Bonds

    Quote Originally Posted by don jipping
    Thank you Surety Queen for pointing out that the ICC no longer exists and that the FMCSA is now the governing body.

    Don
    My pleasure.
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  10. Bond Magician
    Bond Magician is offline Senior Member
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    ICC Bonds

    Quote Originally Posted by Surety Queen
    My pleasure.

    My mistake for referring to them as ICC bonds..
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