Freight Forwarder BOND
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freight forwarder bond

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A Freight Forwarder Bond, also known as a Freight Broker Bond or a Property Broker Bond, is a type of surety bond that freight brokers and forwarders are required to obtain as part of their licensing process in the United States. This bond serves as a form of financial guarantee to ensure that the broker or forwarder will operate ethically and fulfill their obligations to shippers and carriers.

 

The primary purpose of a Freight Forwarder Bond is to protect the interests of shippers and carriers who engage the services of freight brokers and forwarders. It provides financial recourse for parties who suffer financial losses due to the broker or forwarder's failure to fulfill their contractual obligations, such as paying carriers for their services or delivering goods as promised.