What is a Hawaii Freight Broker Bond?
In the freight brokering industry, merely waiting around for business opportunities to come will not push anyone ahead of the competition. One needs to be proactive and create possibilities to be conspicuous and make money. Freight brokers need to go out and meet with possible shippers.
One should not wait for them to call. An honest broker will check on them and offer help if necessary. Paying particular attention to existing clients and potential customers will have huge paybacks.
Likewise, a freight broker should not forget his/her online presence. After a company website has been set, he/she must go ahead and add a blog. Blogging will show shippers that the broker is active and means serious business. It will also boost a freight broker’s authority and will make one’s business easier to search on the web. However, there is one way that freight brokers can do to bring in additional clients to the business – acquiring a Freight Broker Bond.
The Hawaii 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. The bond is also a strong indicator that actions and transactions performed conform with Hawaii’s laws and all other related regulations of motor carriers.
Why do you need a Hawaii Freight Broker Bond?
You need the Hawaii 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 in Hawaii. Most importantly, a Freight Broker Bond will assure you of the peace of mind you need knowing full well that if someone in your employ commits any wrongdoings, the aggrieved client can demand damages without harming company investments.
More details about the Hawaii 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 a Hawaii 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 a Hawaii 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.