BMC-84

BMC-84 is the surety-bond form a freight broker files with FMCSA to satisfy the $75,000 federal financial responsibility requirement.

Brokers must post either a $75,000 surety bond (BMC-84) or trust fund (BMC-85). Most brokers choose BMC-84 because it ties up less capital. The surety company files the form on the broker's behalf and pays out claims up to the limit, then seeks reimbursement from the broker under an indemnity agreement.

Annual premium runs $1,000-$10,000 depending on the broker's personal credit and operational history. New brokers with limited credit pay near the high end.

Why this matters for freight brokers

The BMC-84 bond is the price of admission. Without it, the broker cannot legally operate. It does not cover bodily injury or negligent-hiring claims; it covers carrier non-payment and cargo claims only.

Related terms

• BMC-85 — BMC-85 is the trust-fund alternative to the BMC-84 surety bond for satisfying the $75,000 federal financial responsibility requirement for freight brokers.
• Broker bond ($75,000 federal surety) — The freight broker bond is the $75,000 federal financial responsibility requirement FMCSA mandates for every property broker, satisfied via BMC-84 surety bond or BMC-85 trust fund.
• Surety bond — A surety bond is a three-party agreement in which a surety company guarantees payment from one party (the principal) to another (the obligee) up to a specified amount.
• OP-1(P) — OP-1(P) is the FMCSA application form a freight broker files to obtain property broker operating authority.

Sources

• FMCSA broker registration