STEP by STEP

[Mariela]

Hello
Thank you in advance for taking the time to read this thread!!!!

I want to start my OWN freight broker company.... I am already VP for my Father's Carrier Company.
My question is, SHOULD I get the MC for brokers FIRST or the TRUST FUND ???
Would really like an answer since i dont know much of this part of transportation biz !!
Thank you
Mariela

[don jipping]

mariela- You should first realize that the bmc-85 trust is totally funded by you. Are you going to put up the whole 10k at once, or would you prefer to fund over a period of time? If you are going to fund over a period of time, you should get yourself "pre-qualified" 1st by a authorized trust provider, before applying for your MC#. The FMCSA does not refund application fees, so make sure you can get the horse before you buy the cart.
If you intend to fully fund the trust from the start, by all means get your MC#.
The trust cannot be filed without an MC# anyway.
I will be more than happy to answer any more questions you may have.
Feel free to contact me

don jipping

[Mariela]

Don jipping:

I will be more than happy to answer any more questions you may have.
Feel free to contact me

Thank you so much for taking the time !!! I went to the bank today but they didnt know what I was talking about !! Now...They mentioned something about a " CD " "Certificate of Deposit" uhmmm that I am not sure i can use!
But Could I still Use a bank intead of someone else ???
If i cant use the bank !! where Can I turn !???
I am ofcourse not going to deposit the whole amount right way !!!
Hope to hear from ya soon !
thank !!!!!!!

Mariela !

[don jipping]

you may e-mail at donj@firstsecuritycorp.com if you wish.

[dwilliams]

I am in the process of starting my own freight brokerage and was wanting to know how I go about obtaining a surety bond without having to put up the whole 10,0000 up front. I hope you can answer this question. Thank you and look forward to a reply.

[Admin]

dwilliams,

Bonding companies will require 100% collateral on ICC bonds for new freight broker companies. Only existing companies with good business financials and owner(s) that have good personal credit can obtain the bond without posting collateral.

We recommend doing the BMC-85 for your first year in business rather than the bond. Several people on our forums have used Don Jipping and have seemed very pleased with his service.