If you’re interested in or planning to operate as a freight broker or freight forwarder in the United States, then one of the key federal requirements is securing a BMC-84 Freight Broker Bond. This surety bond ensures that freight brokers follow all FMCSA (Federal Motor Carrier Safety Administration) regulations and fulfil their contractual responsibility.

What is a (BMC-84) Freight Broker Bond  ?

The BMC-84 bond, also known as a Freight Broker Bond, is a $75,000 financial guarantee required by the FMCSA. It protects motor carriers and shippers from potential losses if a freight broker fails to pay for services or violates agreements.

The purpose:

It protects carriers and shippers in case the broker fails to pay freight charges or otherwise breaches the contractual or regulatory obligations. 

It is part of the broker’s authority requirements under the Federal Motor Carrier Safety Administration. 

Because the bond is federally mandated, the state (e.g., New Jersey) doesn’t add a separate renewal regime; the process is managed via surety agencies & filings through the FMCSA. However, if you operate out of New Jersey you’ll want to ensure you’re compliant with state business registration and any state-level licensing, in addition to your federal broker authority and bond.

Who Needs a BMC-84 Bond in NJ?

Any freight broker or freight forwarder based in or operating within New Jersey (or anywhere in the U.S.) must file a BMC-84 bond before receiving their FMCSA operating authority (MC number).

You’ll need this bond if you:

• Arrange transportation for goods by motor carriers.
• Operates under FMCSA authority.
• Wants to comply with federal and state transportation regulations.

BMC-84 Bond Provider 

A BMC-84 Bond Provider is a licensed surety company that issues the BMC-84 Freight Broker Bond required by the Federal Motor Carrier Safety Administration (FMCSA).

The Freight Broker License Bond

Brokers will operate moral, follow FMCSA regulations, and pay motor carriers and shippers on time is guarantees provided by the Freight Broker License Bond (BMC-84) and  if a broker fails to meet these obligations, the surety company compensates the affected party up to the bond amount, and the broker must then reimburse the surety.

How Much Does a BMC-84 Bond Cost?

While the bond amount is $75,000 set by FMCSA , brokers do not have to pay the full amount in advance. Depending on your credit score, financial strength, and business history—the annual premium  typically ranges from 1% to 12% of the total bond value.

Example: 

For a good credit score basically annual premium from around $750–$2,500 .

Key Requirements for Obtaining a BMC-84 Bond in New Jersey

Active FMCSA Registration

You must first apply for your freight broker authority through the FMCSA (Form OP-1) and receive a pending MC number before filing your bond.

$75,000 Bond Coverage

The bond must meet the federal requirement of $75,000, ensuring protection for all parties involved in brokered transactions.

Credit and Financial Review

Bond providers typically assess your credit history, business finances, and experience to determine your bond premium (annual cost).

Licensed Surety Provider

Surety given by the bond issued company that must be licensed and authorized to operate in New Jersey and recognized by the U.S. department of treasury.

FMCSA Filing

Once approved, your surety company will electronically file the BMC-84 form directly with the FMCSA to activate your operating authority.

How to Get a BMC-84 Bond

Apply through a reputable surety bond provider.

Submit financial and business details for underwriting.

Receive a quote based on your risk profile.

Sign and file the bond electronically with the FMCSA.

Key takeaways for someone applying

Make sure you budget for the annual premium (not the full $75,000 up-front unless using the trust fund option).Your credit, business experience, past claims, etc., all affect your premium rate.File the bond promptly so you can obtain your operating authority without delay.Maintain the bond for as long as you hold the broker/forwarder authority — failure to do so risks loss of your license and possible claims.If you’re operating from outside the U.S. or with non-U.S. domiciled business, you’ll still need to meet these U.S. federal requirements if you want U.S. freight brokerage authority.

BMC-84 Bond Renewal Process

The BMC-84 bond must be renewed annually to maintain your FMCSA license.

Why Renewal is Important

Renewing your BMC-84 bond is critical because:
If your bond lapses and you don’t have a valid $75 k bond on file, your broker authority may be revoked or suspended. Underwriters will evaluate your performance (claims made, payments, credit) at renewal time — good performance can lead to better premiums; poor performance can raise them. Even though the bond is filed electronically, there can be delays; a timely renewal avoids gap in coverage.Maintaining uninterrupted bond coverage shows your carriers/shippers you’re reliable, and prevents regulatory exposure.

Step-by-Step Renewal Process for the BMC-84 Bond

Here’s a breakdown of the typical renewal BMC-84 Bond:

Receive Renewal Notice from Surety

Your surety bond provider agency typically sends a renewal notice in advance of the bond expiration date.In case if you don’t receive a notice, you should contact the surety or agent to check your schedule.
Review Your Business Status & Underwriting Info

The surety will likely re‐review your credit score, business financials, any claims filed against the bond, and your operational history (how you’ve performed as a broker). 

If you’ve improved your credit or have a clean claims history, you may qualify for a lower premium at renewal. 

If your business changed ( like: new owners, different address in New Jersey, changed legal establishment ), you must update the surety and ensure the bond still reflects the correct principal.

Receive and Accept Renewal Quote

Upon underwriting, the surety issues the renewal premium quote.

Compare the rate versus last year; a competitive market sometimes leads to improved terms. 

If you accept, you proceed to pay the premium.

Payment & Documentation

Pay the required renewal premium to the bondL provider the surety/agency .

Sign any required documents (like: renewal application, indemnity agreement, etc.).

Confirm Bond Status with FMCSA

After filing, verify via the FMCSA’s database that your bond is active and current. 

Maintain Good Records & Monitor for Changes

Keep proof of your bond renewal, current bond number, premium paid, and filing confirmation.

Be aware if you decide to exit the business: you or the surety must give the FMCSA proper notice to cancel the bond, usually with a 30‐day advance notice period. 

ConclusionTo ensure trust and compliance in the freight brokerage industry BMC-84 Freight Broker Bond is essential . While helping brokers to meet FMCSA requirements, it also protects shippers and carriers.By understanding the bond cost, eligibility requirements, and renewal process helps brokers stay compliant and maintain smooth business operations. Collaborating with a reliable surety bond provider ensures affordable rates and hassle-free renewals each year.