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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

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Gold River Insurance Brokerage is a full-service independent brokerage in Brooklyn, NY.