The federal requirement
Property brokers under FMCSA authority must maintain $75,000 in financial responsibility per 49 USC §13906 and 49 CFR §387.307. The two options are BMC-84 (a surety bond from an authorized surety company) or BMC-85 (a trust fund held by a federally-insured financial institution).
The dollar floor at $75,000 has been unchanged for over a decade. Industry advocacy for a $250,000 floor continues but no rule-making is active.
BMC-84 surety bond
A BMC-84 surety bond requires no upfront cash. The broker pays an annual premium to the surety company. Premium is typically 2–7% of the bond face amount based on personal credit, business credit history, and brokerage operating history. Strong credit profiles pay $1,800–$3,500 annually; weaker profiles pay $4,000–$7,000.
If a broker fails to pay a carrier within the contract terms and a claim is filed, the surety pays the carrier up to the $75,000 ceiling and then seeks reimbursement from the broker. A BMC-84 with active claims may be canceled, leaving the broker with no path to maintain authority.
BMC-85 trust fund
A BMC-85 trust fund requires the full $75,000 in cash held at an FMCSA-approved financial institution. The trust earns interest (returned to the broker), but the principal is locked. The trust cannot be borrowed against and cannot fund operating capital.
BMC-85 is the only option for brokers with weak credit who cannot obtain a BMC-84. It's also chosen by brokers who prefer the cash-locked structure over annual premium payments and want the interest income.