The primary job of the Federal Motor Carrier Safety Administration is to prevent deaths and injuries related to commercial motor vehicles. They do not issue commercial driver’s licenses as that is done on the state level. The Federal Motor Carrier Safety Administration regulations include all of the following: vehicles that weigh 10,001 lbs or more, transport more than 15 passengers, or transport hazardous materials.
To help the Federal Motor Carrier Safety Administration enforce their laws and regulations, many drivers will need to take out surety bonds in order to get their licenses. These bonds are used to offer financial compensation to the public if the license holder breaks any laws or regulations.
The most common surety bonds that are required by the Federal Motor Carrier Safety Administration include:
California Freight Broker/Forwarder Bond (BMC 84)
All transportation brokers in the United States must have a Freight Broker Bond in order to be licensed. They are sometimes called Property Broker Bonds, Interstate Commerce Commission Bonds or Transportation Broker Bonds. The amount of the bond is set at $75,000 and helps ensure payment to motor carriers in the event of a failed business or failure to comply with a contract.