Five Things you need to know about the new DoD Freight Broker Bond requirements

In one of our previous blogs, we included DoD Freight Broker Bonds among our list of surety bonds.  A DoD Freight Broker Bond is a requirement of any business that provides transportation for the Department of Defense.

3d human with a red question mark

Since we posted that blog, the DoD has implemented additional regulations.  One of these regulations is a performance bond.  Here are the top five things you should know.

  1. The “open enrollment” for a performance bond is January 9, 2017 to February, 28, 2017.
  1. This new regulations is set by the DoD through the Military Surface Deployment and Distribution Command (otherwise known as the SDDC).
  1. This affects domestic motor Transportation Service Providers (also known as TSPs)
  1. TSPs will need to register with the Federal Motor Carrier Safety Administration.
  1. TSPs will also need to have 3 consecutive years before the Open Season begins.

Since the end of open enrollment is approaching, we urge you to contact us today to ensure you have all the necessary surety bonds to run your business.

We here, at GotSuretyBonds.com are an independent bond-only agency, committed to the principles of service, integrity and professionalism. We view our clients, employees and underwriters as our “business family”. We strive to offer each and every one of them unsurpassed attention and support to ensure a mutually beneficial relationship.  We have a keen understanding that success for everyone is only possible through helping all of our constituents achieve their goals and objectives, we believe that a truly satisfied customer, employee or vendor is the best business strategy of all.  Our surety bonding services help create a blueprint for success. Our principals have relationships nationwide and have earned the trust of underwriters. Because of our credibility within the underwriting community and longevity in the industry, we are able to act as powerful advocates for our clients. We have a unique, tactical process to professionally design and present a thorough financial picture with risk and financial analyses to the surety market.

 



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