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.
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!