ICC Bonds

[Mr. Bond]

Can you tell me the difference between a BMC-84 and a BMC-85?

[Bond Magician]

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.

[Surety Queen]

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

[newbie81]

Is there a comprehensive source on ICC bonds?
Where can I find such information?

[Surety Queen]

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.

[Bond Magician]

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.

[Surety Queen]

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.

[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

[Surety Queen]

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.

[Bond Magician]

Originally Posted by Surety Queen

My pleasure.

My mistake for referring to them as ICC bonds..