BMC-84 vs BMC-85: What a Broker's Bond Actually Tells You

Quick answer: every licensed US property broker must file $75,000 of financial security with FMCSA - either a BMC-84 surety bond (issued by an insurance company) or a BMC-85 trust fund (the broker's own money held in trust). For a carrier chasing unpaid freight charges, the difference matters: with a BMC-84 you file a claim with the surety company; with a BMC-85 you claim against the trustee holding the funds. You can see which one any broker carries, and who holds it, on their CheckMyBroker profile.

What the bond is for

The $75,000 requirement (49 U.S.C. § 13906) exists for exactly one scenario: the broker arranged your load, you delivered it, and the broker did not pay you. The bond or trust is the pool of money that pays carriers and shippers when the broker fails to meet its contractual obligations.

It is not unlimited insurance. $75,000 is the total pool for all claimants combined - when a broker collapses owing money to dozens of carriers, claims can exceed the pool and get paid pro rata. That is why filing early matters.

BMC-84: the surety bond

Most brokers carry a BMC-84. An insurance company (the surety) backs the $75,000 and is legally responsible for valid claims up to that amount. The broker pays an annual premium; the surety takes on the risk.

What it means for you: if the broker doesn't pay, you send a claim directly to the surety company - not to the broker. The surety investigates the claim; valid claims are paid from the bond, up to what remains of the $75,000 pool, and the surety then pursues the broker to recover its loss. Sureties also underwrite brokers before issuing bonds, so a broker who keeps a bond with a reputable surety has passed at least a basic financial screen.

BMC-85: the trust fund

With a BMC-85, the broker deposits its own $75,000 (cash or assets) with a financial institution acting as trustee. No insurance company stands behind it - the money is the broker's.

Some very large, established brokers use BMC-85s. On the other end, some risky brokers prefer them because no surety underwriting is involved. The trust itself is neither good nor bad - read it together with the broker's age, authority history and payment record.

The signal most carriers miss: cancellation filings

Sureties and trustees must notify FMCSA before cancelling a bond or trust - and those filings are public weeks before they take effect. A broker whose bond has a pending cancellation is a broker whose surety wants out, and since January 2026 FMCSA suspends brokers who do not restore full security within 7 business days of notice.

It is one of the earliest public warning signs that a broker's financial security is in trouble. CheckMyBroker shows pending cancellations on every broker profile, each with the date we last checked that filing, and lists new ones in the alerts feed as our daily refresh finds them.

How to claim against the bond

1. Confirm the surety or trustee and the filing on the broker's profile. 2. Gather your paperwork: rate confirmation, invoice, BOL, proof of delivery. 3. Send a written claim to the surety/trustee identifying the principal (broker), the loads, and the amounts. 4. Watch the deadlines - claims are typically time-limited, and pools run out.

The surety or trustee name comes from the broker's own FMCSA filing and is shown on their profile. Our Recovery page sets out the claim sequence; document generation there is paused pending a US transportation-law review.

FAQ

Is $75,000 per carrier? No - it is the total pool for all claims against that broker.

Can a broker operate without a bond? No. No bond on file means the broker cannot legally operate, and FMCSA revokes authority quickly.

Does a bond mean the broker is safe? It means there is a pool to claim against. It says nothing about how fast they pay. Check the payment reports too.

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*Data referenced comes from official public FMCSA licensing and insurance records. This article is general information, not legal advice.*