Freight Broker Bond: A freight broker bond is a type of surety bond that freight brokers must obtain to get a license to broker freight. The freight broker surety bond requirement exists to help establish credibility and prevent fraud or failure to pay motor carriers or shippers in a timely manner. So, if the freight broker tries not to pay the carrier for their service, they can put a claim against the freight broker's surety bond. All freight brokers must carry a $75,000 Surety Bond or bank trust.
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