How To Get A Freight Broker License
Your Steps On How To Get A Freight Broker License Are As Follows :
When working on how to get a freight broker license, the steps are not that simple. When it comes time for you filing your application, you may follow to this link on the FMCSA Broker License Registration Portal.
-
For brokers of property: Proof of Financial Capability in the form of: a Surety Bond (Form BMC-84) or Trust Fund Agreement (Form BMC-85) in the amount of $75,000.
-
Form BOC-3, Designation of Process Agent Form (brokers may designate themselves as their own process agents in the State in which they are writing contracts) Learn more about " What Is A Freight Broker Process Agent "
-
Application processing fee: $300 (non-refundable) charged during the application process
-
Application processing time: Approximately 4-6 weeks
Remember that once you’ve obtained your DOT registration, you need to file a biennial update by submitting an MCS-150 form online.
You’re required to provide this update even if your company has not changed its information, has ceased interstate operations, or is no longer in business.
Having a freight broker business requires you keeping your company compliant and operating under the FMCSA guidelines. Learn More on Freight Broker Topics
How to get a freight broker license will require research on your end on finding the best surety bond. Make sure you research and compare the differences. Learn more about surety bonds here when learning how to get a freight broker license.