Surety Bonds for Freight Broker Bonds
What are Freight Broker Bonds?
A freight broker bond is required by the Federal Motor Carrier Safety Administration in order for any transportation broker to get a license in the United States. It helps to prevent fraud and guarantees that payments to motor carriers and shippers are made in a timely manner. By obtaining this bond, it demonstrates the sound financial backing of the freight broker. In the case that a broker cannot fulfill their contractual obligations as laid out in the freight broker bond, a claim can be filed against them.
The annual premium for a freight broker bond can range from under $2,000 to $9,000. The premium is determined by the broker’s financial strength and personal credit history. An applicant can apply for a freight broker surety bond before they receive their Motor Carrier Number.
FAQs
Who needs a freight broker bond?
Any transportation broker looking to do business in the United States.
What is the annual premium?
Our premium rate starts as low as $725!
Get an Freight Broker Bond today!
1) Fill out the form on our website – this takes 30 seconds of your time and we will get back to you with a quote in less than 24 hours (oftentimes within the hour).
2) Call us directly at 781-559-0568 – we are here to help!
Have Questions?
We, the experts at GotSuretyBonds, make it our goal to make the bonding process simple, easy, and affordable for our clients. We have been in the business for over 25 years and have relationships with over 20 carriers, offering you the most flexibility on bond price and terms.
Contact us for quick, professional service and a quote within minutes!
Call 1 (781) 559-0568
to talk with a Surety Expert today.
