Freight Broker Bond

In order to become an authorized freight broker, companies in the transportation industry must acquire a Freight Broker Bond to guarantee that they will properly deliver any brokered products and remit the necessary payment to the proper parties. These requirements are imposed by the Federal Motor Carrier Safety Administration (FMCSA) which oversees the transportation broker industry.

Also known as Interstate Commerce Commission (ICC) Bonds, freight broker bonds help to minimize fraud in the industry. Many smaller trucking companies have failed in recent years primarily because of uncollected payments on brokered loads. In many cases, an unscrupulous broker is to blame — they collect payment from the shipper and then fail (or refuse) to pay the truckers for their transportation services. A freight broker bond offers some reassurance to the trucking industry that they will, in fact, be able to collect payments due.

Application Information

Complete the Commercial Application to get started. Please note: in addition to our commercial bond application, we may need to request the business and personal financial statements of the owner(s) and copy of any statute or ordinance that’s requiring the bond and/or a bond form.