Products > Surety Bonds > Property Broker Bond
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The Federal Motor Carrier Safety Administration (FMCSA) requires all property brokers to post $10,000 in financial security to guarantee their obligations to trucking companies and shippers.
BMC-84 – The official name of the FMCSA’s bond for property brokers. Because the surety provides a financial guarantee, collateral may be required. This bond is formerly known as an “ICC bond,” as a similar requirement was enacted under the Interstate Commerce Commission.
BMC-85 – Property brokers also have the option of posting the $10,000 in a trust fund, filed on the FMCSA’s BMC-85. A trust fund requires the full $10,000 amount in cash, which will be frozen for as long as the trust is in place.
TIA Performance Certified – Exclusively created for TIA members, the Performance Certified Program distinguishes the industry elite. Companies in the program obtain a larger bond amount to demonstrate a strong financial backing and a commitment to shippers and carriers. Participants must place their initial FMCSA required amount with TIASurety, and Avalon handles the excess amount, for a total of $25,000, $50,000, $100,000 or $250,000 security.
