All Commercial Surety Freight Broker

Freight Broker

Freight Broker or ICC Surety Bonds

This bond is required for anyone who acts as a Freight Broker or property broker in the United States. It ensures the financial responsibility of the broker by providing for payments to shippers or motor carriers if the broker fails to carry out its contracts, agreements or arrangements for the supplying of transportation by authorized motor carriers. The required bond amount is $75,000.

A freight broker or freight forwarder who operates without registering and filing a bond could incur a fine of up to $10,000.

To be issued this bond, you’ll need to provide a signed application, including business and personal indemnity, a clean credit report, and business and personal financial statements.

What is a surety bond?

A surety bond is a three-party agreement that ensures the fulfillment of a commitment or contract. For instance, the surety (Merchants Bonding Company (Mutual)) may provide a surety bond to a construction company (the principal) which is required by the state (the obligee), ensuring the construction company will perform the duties as outlined in the contract. In bonding the construction company, Merchants assumes the risk should the company default or not fulfill their contract. A surety bond is different from traditional insurance in that the principal is obligated to pay back the surety company on any claims paid out.

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I can honestly (and proudly) say that Joann is my bond hero/lifeline. Truly. I have worked with several other bond companies and have considerable experience in the compliance arena and not a single one of them measures up to the experience, knowledge and impeccable customer service that I am CONSISTENTLY provided from Joann.

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Who We Are

Over 125 Years of Combined Experience

As a surety bond broker, we work for YOU not the surety company. We are licensed nationwide and appointed by 25 surety companies so that we are able to offer the best solution for all surety bond needs. We are a small organization that strives to make you feel like part of our family.

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