Freight Broker Bond

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How to Get a Freight Broker Bond

Who We Are

Lance Surety Bond Associates is a surety bond agency that is able to write all surety bond types in all 50 states. We are dedicated to servicing all of our customers' surety bonding needs throughout the country and guarantee competitive rates, timely responses, and unparalleled customer service. We're able to write all types of contract and commercial bonds, utilizing a state-of-the-art online application system for all commercial bond types, making the application process fast and easy. Most bonds are instantly approved online!

Through our vast network of markets, we can offer customers with a number of specialty programs for certain bond types including mortgage broker bonds and auto dealer bonds. Additionally, we have exclusive programs that can assist customers with poor credit in getting the bonds they need.

Need more information? We're happy to help. Call us at 877.514.5146

Frequently Asked Questions

How much does a Freight Broker Bond cost?

Annual premium for the $75,000 BMC-84 Bond currently range between $1,300 and $9,000. If this sounds too much for you, Lance Surety Bonds also offers exclusive payment plans. To get a free quote and to learn more about possible payment plans, fill out the online application form or call one of our surety bond experts at (877)-514-5146.

Freight Broker Bond rates are typically determined based on owner personal credit and time in business. A company’s financial strength can also be taken into consideration. To get an exact quote for your Freight Broker Bond, you need to fill out the online application form. The application is free, with no obligations and you will get an exact quote for your bond in minutes!

Are there any payment plans available?

Yes! To learn more about our payment options, fill out our online application form or get in touch with one of our Freight Broker Bond specialists at (877)-514-5146

Why do I need a Freight Broker Bond?

Freight Broker Bonds (BMC-84) are necessary for operation as a transportation broker in the United States, and are regulated by the Federal Motor Carrier Safety Administration (FMCSA). The bond demonstrates financial responsibility of a broker, guaranteeing payment to motor carriers and shippers if a broker fails to comply with its contracts and agreements.

With the signing of the MAP-21 bill, property brokers and freight forwarders have been required to post a $75,000 bond since Oct 1, 2013, which is a significant increase from the previous $10,000 bond. Brokers that do not comply with the new bond requirement may have their broker authority revoked by the FMCSA.

How are BMC-84 Bonds filed?

First, you need to apply for your Freight Broker BMC-84 Bond. After the application is approved, your agent will let you know how much your bond premium costs and will give you an agreement with a bonding company. Once you pay your premium and sign the agreement, you will receive your bond.

Freight Broker Bonds are electronically filed with the FMCSA, so you don’t have to worry about additional paperwork. Once the FMCSA approves your bond, you will be provided with the electronic filing confirmation, and within 24 hours will be able to view your active bond coverage on the FMCSA website.

Can I get a BMC-84 Bond if I have bad credit?

Yes. While many sureties only offer quotes to customers with stellar credit, Lance Surety Bonds has a specialty program that allows us to approve over 99% of applicants instantly through our online application. Your annual premium will depend on your individual credit profile.

Will I have to post collateral?

At this time, our bond approvals for BMC-84 Bonds do not require collateral. With our exclusive bad credit programs, we are able to offer quotes to freight brokers with just an annual premium requirement.

Do I need a Motor Carrier (MC) Number before applying?

No. You can apply for this bond before being assigned an MC Number. However, the surety company will need an active MC Number in order to properly file your bond with the FMCSA.

How long does it take to get my Freight Broker Bond?

The length of time from application to issuance varies depending on the type of bond, promptness of premium payment and other factors. Most bonds are approved instantly upon completing our online application, and are generally issued one to two days after receipt of payment and a signed copy of the agreement.

ShopperApproved Reviews

What Our Clients Have To Say?

  • Kimberlee Ables
    Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
  • Andrew Poincot
    Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
  • Margie Martinez
    We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
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