Transportation Bonds
BMC-84 FMCSA Freight Broker Bond/Freight Forwarder Bond
FREIGHT BROKER BONDS:
The Federal Motor Carrier Safety Administration (FMCSA) as well as some state government agencies require freight forwarders and freight brokers maintain a surety bond as part of their registration. The most common transportation bond is known as BMC-84.
The Federal Motor Carrier Safety Administration requires the BMC-84 Bond
Transportation Bonds
DEPARTMENT OF DEFENSE (DoD) MILITARY FREIGHT CARRIER BOND:
DEPARTMENT OF DEFENSE (DoD) MILITARY FREIGHT CARRIER BOND:
The U.S. Department of Defense requires carriers that wish to transport military freight to obtain and maintain a surety bond as part of the qualification process. This bond provides financial assurance that military freight carriers will comply with contractual obligations, meet performance standards, and fulfill payment responsibilities related to DoD shipments. By securing this bond, carriers demonstrate their reliability and eligibility to participate in the DoD freight transportation program.
Motor Vehicle Dealer Bonds
CAR DEALER BOND: Motor Vehicle Dealer surety bonds are a required component of the dealer licensing process in most states. These bonds are frequently referred to as auto dealer bonds, DMV bonds. Depending on the state, bonding requirements could vary by dealer size, number of locations, vehicle type (new car, used car, mobile home, boat, ATV, motorcycle) or whether the dealer is a retailer or wholesaler.
Required by many states, the bond is intended to protect consumers from fraudulent activity by the dealer maintaining industry expectations.. The cost of these bonds vary between individual credit and bond limit required by the State. At Hancock Surety, not only are we surety specialists, we are a licensed insurance agency with a history of providing competitive rates with a high level of integrity.
