What is the Texas Burlington Northern Santa Fe (BNSF), Railway Bond?
Learn about the BNSF Railway bond and how to quickly obtain one!
The Burlington Northern Santa Fe (BNSF) Railway, owned by Berkshire Hathaway, is one of the dominant product transporters in the United States of America and Canada. It has a rail network of 32,000 miles, making it the second-largest freight railroad network in North America.
In its commitment to move products efficiently and safely, as well as provide excellent service, the Burlington Northern Santa Fe Railway shippers are obligated to comply with the policies of the company. One of its policies is the submission of necessary BNSF shipper requirements.
The shipper’s requirements include, but are not limited to, providing electronic funds transfer (EFT), signing a BNSF Intermodal Transportation Contract, establishing credit, and posting a surety bond.
What is the Burlington Northern Santa Fe (BNSF) Railway Bond for?
The surety bond’s purpose is to ensure that the shipper will comply with all the rules and regulations of the Burlington Northern Santa Fe (BNSF) Railway, as well as the state laws, and federal laws that govern them.
What is the Burlington Northern Santa Fe (BNSF) Railway Bond amount?
The bond amount varies. It will depend on various factors – from the products that are being shipped to the shipping location. Generally, the bond amounts can range from $5,000 up to $100,000.
Since the bond premium is relative to the bond amount, it will vary widely as well. However, those who have excellent credit may be eligible for a very low bond premium or just 1% of what the BNSF bond amount will be.
How can I obtain a Burlington Northern Santa Fe (BNSF) Railway Bond?
First, you must seek the assistance of a reputable surety bond company such as Surety Bond Authority. We will ask you to apply for this type of bond.
During the application, you will be asked a few basic information. You will also have to submit information needed for the underwriting process such as your financial history, job performance or business history, and your credit score.
The underwriter will evaluate those three to determine how much bond premium you will pay. Those who have a good credit score will pay less than those who don’t. However, a bad credit score doesn’t necessarily mean that the person will not qualify for this bond.
Once you have been sufficiently assessed, we will execute the bond and send it to you.
Do you need further information about the Texas BNSF Railway Bond? Call one of our expert surety bond agents! You may also send us an email!