Every property broker authorized by the FMCSA is required to carry a $75,000 surety bond (BMC-84) or trust fund (BMC-85). This isn’t optional — and it’s the single biggest financial protection a shipper has when something goes wrong with a freight broker.
What the Bond Covers
If a broker collects payment from a shipper but fails to pay the motor carrier, the unpaid carrier (or shipper) can file a claim against the broker’s bond. The surety company pays valid claims up to the $75,000 limit.
Why $75,000?
The bond was raised from $10,000 to $75,000 in 2013 under the MAP-21 highway funding act, after years of carrier complaints about deadbeat brokers folding and stiffing them on tens of thousands of unpaid invoices.
How to Verify a Broker’s Bond
- Look up the broker’s MC# on FMCSA SAFER
- Click “Licensing & Insurance” — look for “BMC-84” or “BMC-85” with an active filing date
- Note the surety company name and policy number
- If the bond shows “cancelled” or “pending termination” — do not tender freight
Bond vs Trust Fund
BMC-84 is a true surety bond — issued by an insurance company that’s on the hook if the broker defaults. BMC-85 is a trust fund — actual cash deposited and held by a financial institution. Both meet FMCSA requirements. Bonds are more common; trust funds are typical for very large brokerages or those with bond market difficulties.
What the Bond Doesn’t Cover
- Cargo loss or damage (that’s the motor carrier’s cargo insurance)
- Late delivery penalties
- Brokerage service errors not involving non-payment
Filing a Claim
If a broker fails to pay you, contact the surety company directly with: BOL, signed POD, rate confirmation, invoice, and proof of non-payment (statement of account, written demand letter). Most surety companies require claims within 60-90 days of breach.
Skyline’s Bond
We maintain a $75,000 BMC-84 surety bond in good standing. We’re happy to provide our bond company name and policy number on request — email Sales@skylinetransp.com.