Freight Broker Bond

[bad2thebond]

Is it possible to obtain a Freight Broker Bond for more than a 1 year term?

[lifeisgood]

Most bonds can be done for multiple years - I would check with the FMCSA to find out exactly what their requirements are.

[don jipping]

The FMCSA does not care how long the coverage is for. Just as long as there IS coverage.

Note: The FMCSA will the authority 33 days from the effective cancellation date of the trust fund or brokers bond.

Don

[don jipping]

Originally Posted by don jipping

The FMCSA does not care how long the coverage is for. Just as long as there IS coverage.

Note: The FMCSA will REVOKE the authority 33 days from the effective cancellation date of the trust fund or brokers bond.

Don

Forgot to type in REVOKE

should read "the FMCSA will REVOKE the authority 33 days..."

[Calexico]

Hi, our company just got the broker autorithy and have already filed BOC-3 and UCR registration, we are working on the bond but we do not know if we should (or can) wait until the 14 day protest period pass in order to get the bond....

Can any one recommend something?....

Thanks in advance

[don jipping]

The FMCSA protest period is 10 busines days beginning on the day your application was published. I most definitely would line up your BMC85 trust or BMC84 bond now.
You want to get coverage filed as soon as possible so that when your protest period is up, you will be activated. Activation is 3-5 days from the day your 10 days is up.

Don Jipping

[Calexico]

Originally Posted by don jipping

The FMCSA protest period is 10 busines days beginning on the day your application was published. I most definitely would line up your BMC85 trust or BMC84 bond now.
You want to get coverage filed as soon as possible so that when your protest period is up, you will be activated. Activation is 3-5 days from the day your 10 days is up.

Don Jipping

I appreciate your prompt response, will begin working with this inmediatly, thanks again for your help

[Admin]

Don is absolutely right...

I would encourage you to inform yourself about both the BMC-84 bond and the BMC-85 trust fund, as each option has their pros and cons.

You can apply for the BMC-84 bond online at: JW Surety Bonds - Commercial Bond Applications

When it asks for a bond type, select "ICC Bond".

If you have questions, call us at 888-592-6631.


As for the BMC-85, Don really knows his stuff. I have never heard anything, but positive feedback from people who have worked with him. He is not associated with our company in any way, but he seems to be the most knowledgeable guy around when it comes to the trust fund.