How to Get a Freight Broker License in North Carolina
In order to work as a freight broker in the US, you need to obtain a freight broker license from the Federal Motor Carrier Safety Administration (FMCSA). This license allows you to act as an intermediary between shippers and carriers and build your freight brokerage business.
Securing a freight broker license in North Carolina is fairly straightforward. However, there are some requirements you’ll need to fulfill and steps you’ll need to take to successfully secure your license and launch your business. To help you get your new career off to a flying start, we’re taking a look at how to get a freight broker license in North Carolina.
Requirements for Becoming a Freight Broker in North Carolina
Freight broker requirements are set nationally by the Federal Motor Carrier Safety Association, rather than by states themselves. This means that the process for becoming a licensed freight broker is the same in Charlotte, North Carolina as it is in all other cities across the country.
In order to meet these requirements, you’ll need to:
- Have a properly registered business
- Purchase a $75,000 freight broker bond
- Apply for your USDOT number from the U.S. Department of Transportation
- Appoint process agents in all states where you plan to operate
- Pay a $300 application fee
A lot of people incorrectly believe that a freight broker training course is a prerequisite of the licensing process. While there are no official requirements for prospective agents to take a training course, completing a good quality program could well help to kickstart your business.
You’ll find a choice of online and offline freight broker training programs in North Carolina. Online freight broker training programs are a good option if you want to work at your own pace.
If you prefer in-person teaching, you’ll find a choice of freight broker and freight agent training programs and seminars in and around Charlotte and Raleigh. Enrollment in these offline courses can fill up fast, so make sure you register early if you’re interested.
Steps in The Licensing Process in North Carolina
Step 1. The first thing you’ll need to do to secure your North Carolina broker’s license is register your freight broker business. You’ll also need to select a structure for your company at this point. The structure you choose will have a significant impact on how you run your business in the future, so, it’s well worth consulting a lawyer or accountant before you decide.
Step 2. Next, you’ll need to apply for your USDOT number from the Department of Transportation. This is a unique number given to companies that perform interstate commerce.
Step 3. Before you can apply for your license, you’ll need to purchase a $75,000 freight broker surety bond. The surety bond requirement is in place to ensure freight brokers work within the law and to protect customers from financial losses that may result from fraudulent business practices.
Step 4. You’ll need to appoint a registered process agent in every state you plan to operate in. List all of your chosen agents on Form BOC-3 and file it with the FMCSA.
How Much Does it Cost to Get a Freight Broker License in North Carolina?
The application fee for a freight broker license in North Carolina is $300. This license will allow you to run your own freight brokerage business. However, you’ll also need to factor in the cost of your surety bond and your accountant if you choose to use one.
If you opt to complete a freight broker agent training course, your startup costs could be significantly higher.
How Long Does it Take to Get a Freight Broker License in North Carolina?
If you have all of your paperwork in order, your license should be approved between four and six weeks after you submit your application.
Freight Broker Training Programs in NC
There are a number of freight broker training programs available in NC. Courses are run by the Freight Broker Boot Camp, the University of North Carolina, Global Precision Logistics and Brooke Transportation Training Solutions, among many others.
Do Freight Brokers Need a License or Degree to Work in North Carolina?
You don’t need to have a degree to work as a freight broker in North Carolina. However, you will need to apply for a license from the Federal Motor Carrier Safety Administration.
How Much Does a Freight Broker Make in North Carolina?
The average salary for a freight broker in North Carolina is around $55,000 per year. That’s significantly above the $48,420 national average listed by the Bureau of Labor Statistics (BLS) and makes the state the perfect place for transportation intermediaries to base themselves.
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