In order to operate legally as a transportation broker, a freight broker bond is required by the FMCSA (Federal Motor Carrier Safety Administration). Also known as a Property Broker’s Surety Bond, BMC-84, or an ICC Bond.A surety bond is a contract between at least three parties:

• The obligee – the party who is the recipient of an obligation (Federal Government)
• The principal – the primary party who will be performing the contractual obligation, (Broker)
• The surety – who assures the obligee that the principal can perform the task (Bonding company