What is an Alaska Freight Broker Bond?
The efficient and reliable movement of goods is important to the American economic system. Since truck travel time and speed are indicators of performance, slow speed and erratic travel times can lead to congestion. In the same way that rough weather conditions can raise fuel costs and can adversely affect operational efficiency, productivity, and overall system performance.
Today, escalating demand for freight transportation intensifies concerns about safety, energy utilization, and environmental effects. While security and performance in all delivery methods and processes continue to be keenly observed, there is also the need to regulate all those who are engaged in this type of business, thus, the existence of the Freight Broker Bond.
The Alaska Freight Broker Bond is a demonstration of financial security and elasticity. It is an active display of financial capability in meeting responsibilities and potential claims.
It is likewise an assurance that in the conduct of one’s business, the values of fair freight forwarding and brokering are rigorously and meticulously practiced. The bond also serves as a warranty to clients and partners that the freight brokering company is suitably licensed by the Federal Motor Carrier Safety Administration.
The bond is also a strong indicator that actions and transactions performed conforms with Alaska’s laws and all other related regulations of motor carriers.
Why do you need an Alaska Freight Broker Bond?
You need the Alaska Freight Broker Bond because you want to stay in the industry for good. As the bond will add status to your name, your company will be known as a trustworthy freight broker organization. Most importantly, a freight broker bond will assure you of the peace of mind you need knowing fully well that if someone in your employ commits any unscrupulous act, the aggrieved client can demand damages without harming company investments.
More details about the Alaska Freight Broker Bond
Before getting bonded, freight brokers engaged in interstate business must apply for a broker authority from the Federal Motor Carrier Safety Administration using the Unified Registration System. You need to comply with the $300 application processing fee and wait for 4 to 6 weeks for processing.
Once bonded, your proof of surety must be filed using Form BMC 84. On the other hand, proofs of an existing trust fund with a financial institution must likewise be filed using Form BMC 85.
What is the cost of an Alaska Freight Broker Bond?
The amount of your bond premium rests on your previous financials and credit standing. It can also be impinged by past business performance, personal profile, standing within the business community, most especially in the surety bond industry.
Being convicted of a crime, even if it happened decades ago, also matters in the determination of how much you should pay.
How do I get an Alaska Freight Broker Bond?
Getting a bond is simple. Be sure to get in touch with genuine professionals only. Give Surety Bond Authority specialists a call now! With Surety Bond Authority taking care of your business affairs, you will have the answers you need and the solution to whatever concerns you have in protecting your business.