Saturday, July 2, 2022
  • Home
  • Contact Us
lld-law
Advertisement
  • Home
  • Law
  • Identity Theft
  • Criminal Law
  • Trademarks
  • Property Law
No Result
View All Result
lld-law
  • Home
  • Law
  • Identity Theft
  • Criminal Law
  • Trademarks
  • Property Law
No Result
View All Result
lld-law
No Result
View All Result
Home Law

What you should know about Freight Broker Bonds?

Genevieve Preas by Genevieve Preas
August 30, 2019
in Law
0
What you should know about Freight Broker Bonds?
589
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

Freight brokers play vital role between the shippers and carriers. They act as middle man by finding good transportation companies and negotiating with them for good rates for shipping and fast delivery of goods. At the same time, they connect these companies with the businesses that require using the services of transportation of items. To become a freight broker in US, you need to get training, gain experience of the industry and get Freight Broker Surety Bonds.

Need for surety bonds

The Federal Motor Carrier Safety Administration or the FMCSA requires the freight brokers to get a broker surety bond during the process of getting the freight brokerage license. The Freight Broker Surety Bonds are actually means to protect carriers and shippers and contractual obligations that the freight brokers have for them. The surety bond is thus an agreement having three participant sides including the principal, the oblige and the surety. The surety side guarantees the oblige with the issue of the bond that they will be protected from any harm which may come up if the principal does any fraud or engages in unlawful work. So, if the freight broker delays or refuses payment, the freight broker bond goes to effect and as a result the shippers and carriers get compensation.

The cost of freight broker bond is determined after looking at the three important points. They are:

  • Experience of the business
  • Personal credit of the business owner
  • Financial strength of the business

The BMC-84 or Freight Broker Surety Bond allows the forwarder and freight brokers to pay a percentage of total amounts of the bond in form of premium without any collateral. If the credit score of the freight broker is bad, the bond cost will be high because of the risks involved. It is possible to lower the broker bond cost by providing strong financial statements and taking few steps to improve the credit score.

Previous Post

How to Hire A Personal Injury Attorney

Next Post

What to Consider in your Potential Divorce Attorney?

Genevieve Preas

Genevieve Preas

Next Post
What to Consider in your Potential Divorce Attorney?

What to Consider in your Potential Divorce Attorney?

Archives

  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019

Categories

  • Criminal Law
  • Featured
  • Identity Theft
  • Law
  • Law Firm
  • lawyer company
  • Legal Process
  • Personal Injury Lawyer
  • Property Law
  • Trademarks
  • Trending
  • Comments
  • Latest
   ARIAL SAMADI v. ALEX OJJEH

  ARIAL SAMADI v. ALEX OJJEH

January 12, 2021
How To Get An FBI Background Check In One Week

How To Get An FBI Background Check In One Week

October 28, 2020
The Good Stuff That an Estate Planning Lawyer Can Bring

The Good Stuff That an Estate Planning Lawyer Can Bring

October 31, 2020
What is the necessity of an eye expert witness?

What is the necessity of an eye expert witness?

July 12, 2020
Role and Responsibility of Criminal Defense Attorney!

Ten Tips For A Successful Lemon Law Claim From A Lemon Lawyer San Diego

January 7, 2021
Trademarking: Protection Where It’s Needed Most

Trademarking: Protection Where It’s Needed Most

0
Some Suggestions in writing a commercial Lease Agreement

Some Suggestions in writing a commercial Lease Agreement

0
The Various Responsibilities That Are Incorporated inside the Key Job Roles from the Estate Settlement Lawyer

The Various Responsibilities That Are Incorporated inside the Key Job Roles from the Estate Settlement Lawyer

0
Trademark a Slogan to guard Your Business From Business Thievery

Trademark a Slogan to guard Your Business From Business Thievery

0
Hiring the very best Property Attorney

Hiring the very best Property Attorney

0
Four Benefits of Outsourcing the Legal Needs of Your Healthcare Business in California

Four Benefits of Outsourcing the Legal Needs of Your Healthcare Business in California

July 1, 2022
Questions Asked During An Employment Visa Interview

Car Accident Attorneys Can Assist You in Obtaining the Compensation You Deserve

June 21, 2022
How to Select the Right Criminal Defense Attorney

How to Select the Right Criminal Defense Attorney

June 16, 2022
Using a Buyer’s Agent When Buying Real Estate

Using a Buyer’s Agent When Buying Real Estate

May 30, 2022
Best Tips To Find The Best Divorce Lawyer For Your Cause

Best Tips To Find The Best Divorce Lawyer For Your Cause

May 26, 2022

Advertisement

Latest Post

Four Benefits of Outsourcing the Legal Needs of Your Healthcare Business in California

Four Benefits of Outsourcing the Legal Needs of Your Healthcare Business in California

July 1, 2022
Questions Asked During An Employment Visa Interview

Car Accident Attorneys Can Assist You in Obtaining the Compensation You Deserve

June 21, 2022
How to Select the Right Criminal Defense Attorney

How to Select the Right Criminal Defense Attorney

June 16, 2022

Featured

Calendar

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Copyright © 2019 lld-law.com | All Right Rserved .

No Result
View All Result
  • Home
  • Landing Page
  • Buy JNews
  • Support Forum
  • Pre-sale Question
  • Contact Us

Copyright © 2019 lld-law.com | All Right Rserved .