Freight Broker Bond: A freight broker bond is a financial security that federal rules require a licensed broker to keep on file, currently set at $75,000, to help protect carriers and shippers if the broker fails to pay.
Why it matters to owner operators
If a broker doesn’t pay, a claim against the bond may help you recover money, but claims are not guaranteed and can be limited. Checking the bond is one part of due diligence, not a replacement for checking payment history.
Example
A carrier checks the broker’s authority record and sees an active bond on file before accepting a load.
Related terms
Brokerage & Loads: Not sure a broker or load is worth your time? We check brokers before we book freight for you, and you always choose which loads to haul. Talk to our dispatch team or browse the full trucking glossary.
Haul smarter with a dispatch team behind you
Nexloads finds loads, negotiates rates and handles paperwork for owner operators and small fleets. No forced dispatch and no long-term contracts.