Your authority runs on a $75,000 promise. Make sure it holds.
The federal bond behind your broker authority
Every freight broker and freight forwarder operating in interstate commerce must file a $75,000 surety bond with the Federal Motor Carrier Safety Administration before it can lawfully arrange a single load. That bond is the BMC-84. Without it on file, the FMCSA will not grant — or will revoke — your broker authority, and your MC number goes dark.
What the BMC-84 guarantees
The BMC-84 is a financial guarantee that you will pay the motor carriers and shippers you do business with. If you fail to pay a carrier for a load, or fail to pass along a shipper’s funds, the harmed party can file a claim against your bond, and the surety will pay valid claims up to the $75,000 limit.
Like all surety, it protects the people you work with — not you. If the surety pays a claim, you must reimburse it. The bond exists to keep dishonest or insolvent brokers from stranding carriers who have already hauled the freight.
The $75,000 requirement and where it comes from
The $75,000 figure is set by federal law — it was raised from $10,000 under MAP-21 and took effect October 1, 2013. It is the same in all 50 states because broker authority is federal, not state-issued. Property brokers and freight forwarders are both covered; the requirement is filed on FMCSA Form BMC-84 (a surety bond) or BMC-85 (a trust fund held with a financial institution). Most brokers choose the BMC-84 because it does not tie up $75,000 in cash.
BMC-84 vs. BMC-85
You must satisfy the FMCSA’s financial-responsibility rule one of two ways:
- BMC-84 (surety bond) — you pay an annual premium (a fraction of $75,000) and a surety guarantees the full amount. No large cash outlay.
- BMC-85 (trust fund) — you deposit the full $75,000 (or fund it through a trustee), tying up capital.
For nearly all brokers, the BMC-84 is the practical choice. It preserves working capital and is what the FMCSA and your carriers expect to see.
What the BMC-84 costs
You do not pay $75,000 — you pay a premium, typically 1.25% to 5% of the $75,000 for brokers with strong credit (roughly $938 to $3,750 per year), and more for weaker credit or newer authority. Because the bond is claims-sensitive and credit-driven, the rate is underwritten to you individually. We place BMC-84s across multiple surety markets, including programs for new brokers and credit-challenged applicants, and file it with the FMCSA for you.
Bond amount
$75,000 — set by federal requirement and the same in every state. You pay an annual premium (a fraction of this amount), not the full sum.
Frequently Asked Questions
How much is the BMC-84 bond?
The bond amount is $75,000, set by federal law. You do not pay that — you pay an annual premium, usually 1.25% to 5% of $75,000 (about $938 to $3,750) for good credit, higher for weaker credit or brand-new authority.
BMC-84 or BMC-85 — which do I need?
Either satisfies the FMCSA, but they work differently. The BMC-84 is a surety bond with an annual premium and no large cash outlay. The BMC-85 requires depositing the full $75,000 in a trust. Most brokers choose the BMC-84 to preserve working capital.
How long does it take to get a BMC-84 filed?
For straightforward applicants, a bond can often be issued the same day and filed electronically with the FMCSA within one to two business days. Credit-challenged files may take longer if additional underwriting is needed.
What happens if my BMC-84 is cancelled?
The surety notifies the FMCSA, and if a replacement is not filed before the cancellation date, the FMCSA revokes your broker authority — you cannot legally broker loads until a new bond is on file. Keeping the bond active is essential to keeping your MC number.
Does the BMC-84 protect my brokerage?
No. It protects the carriers and shippers you work with if you fail to pay them. If the surety pays a claim, you must repay the surety. To protect your own operation you also need coverage like contingent cargo and general liability.
How do I get a freight broker bond (bmc-84) through Cory Washington & Co.?
Request a quote or contact our team. We confirm your exact requirement, market your bond across multiple surety companies that compete for it, and handle the filing. Cory Washington & Co. LLC is licensed in all 50 states.
All surety bond descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or bonding advice. Surety bonds are not insurance. Bond requirements — including amounts, obligees, and bond forms — are set by government authorities and other obligees and change over time; the information presented is general in nature and does not guarantee the availability, terms, conditions, or amount of any bond. Actual bond terms are governed by the bond form issued by the surety and the requirements of the obligee, and any bond remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds a surety, or issues a bond. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please confirm current requirements with the relevant authority and consult directly with a licensed professional at Cory Washington & Co. LLC.