Broker $75,000 Surety Bond (BMC-84) Diligence Checker
Verify if a freight broker or 3PL maintains active property broker operating authority and satisfies the statutory $75,000 financial security requirement before hauling freight.
Understanding Freight Broker Financial Security Requirements
Under MAP-21 legislation (49 U.S.C. 13906), every licensed freight property broker and freight forwarder in the United States must maintain a minimum of $75,000 in financial security to protect motor carriers against non-payment.
An insurance-backed surety bond issued by a licensed surety provider. If a broker fails to pay freight charges, the carrier files a claim directly against the surety bond company for payout.
A cash trust fund where $75,000 in collateral is deposited into a trust administered by a financial institution. Under new 2024 FMCSA rules, trust fund providers are subject to strict immediate payout rules.