Bonds & Trust Agreements

Broker Bonds & Trust Agreements;
As part of the FHWA requirements, Broker Applicants are required to obtain a $10,000 bond (BMC-84). Often people apply for their authority without either any knowledge they need a bond, or not knowing that their credit will play a big role in whether they qualify for a bond. Because of that, we have established relationships with companies that can almost always help you comply with this requirement.

Should you not be qualified for a Bond (BMC84) the FHWA has approved Trust Agreements (BMC-85's).

What is the Difference between a BMC-84 (Bond)
& a BMC-85 (Trust Agreement)?
A BMC-84 is a bond issued by an insurance company and a BMC-85 is a trust fund agreement issued by a financial institution. Although, either one fulfills the surety requirement for your brokerage, we feel your interests are better protected with a BMC-85.

A trust fund’s biggest advantage over a bond is the control that you have as a broker. When a claim is presented against a trust you are notified immediately. If you can provide a valid reason why the claim should not be paid it won’t.

When bonding companies receive a claim they will make the decision for you. They may not even contact you. We believe that since this is your company and your money, you should have a stake in the decisions.

We have a variety of Trust Agreement Plans available to you to fit your need and your budget, contact your IDEAL Representative for more details today at:

866-618-4335

IDEAL will assist you in obtaining a Bond, or a Trust Agreement in a timely fashion. You can get started immediately via telephone, fax, email or online. Ask your IDEAL representative about these and other great services.

Call IDEAL Today:
866-618-4335