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Freight Broker Bonds - Pay off $10,000?


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Old 09-04-2007, 03:18 PM
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Default Pay off $10,000?

Do I need to pay off the $10,000 bond amount before I can cancel my bond?
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Old 09-05-2007, 03:37 PM
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Default ICC Bond

Quote:
Originally Posted by Bond Artist
Do I need to pay off the $10,000 bond amount before I can cancel my bond?

It all depends. Have there been any claims filed against your bond? If there haven't been any, then your bond can be cancelled after providing FMCSA with 30 days notice. If a bond was filed on your behalf, there is nothing to pay off to cancel - unless there have been any claims filed.
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