An Affidavit is a sworn, written statement of facts, signed by the 'affiant' (the person making the statement) before a notary public or other official witness. The affiant swears to the truth and accuracy of the statement contained in the affidavit. This document, an Affidavit of Sureties , is a model affidavit for recording the type of information stated. It must be signed before a notary, who must sign and stamp the document. Adapt the text to fit your facts. Available for download now in standard format(s). USLF control no. CA-CR-004-FED
Surety Bond For Freight Broker
State:
California
Control #:
CA-CR-004-FED
Format:
PDF
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How to fill out California Affidavit Of Surety - No Justification?
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FAQ
The Basic Characteristics of a Freight Broker Bond It's typically provided in a BMC 84 surety bond. 3% to 4% ? Any Canadian company requiring a BMC 84 should expect to pay between 3% and 4% annually for the bond premium. However, if you're a well-established freight broker, you could benefit from a lower rate.
These bond types are also referred to as ?commercial bonds" or ?business bonds." Examples of license and permit surety bonds include auto dealer bonds, mortgage broker bonds, and collection agency bonds.
Anatomy of a Surety Bond Form Bond Number. The surety company assigns this unique identifying number to the bond. ... Principal. The principal is the person or business required to obtain the bond. ... Surety Company. ... Bond Penalty (Penal Sum) ... Obligation. ... Obligee. ... Effective Term. ... State.
A freight broker bond is a type of surety bond that freight brokers must obtain to get or renew a license. The freight broker surety bond requirement exists to help establish credibility and prevent fraud or failure to pay motor carriers or shippers in a timely manner.
For nearly a decade, all freight brokers have been legally required to have a $75,000 surety bond or trust fund. That bond assures that if a broker is unable to live up to their contracts with a carrier or shipper, the broker will still have the assets or cash to cover the amount needed.