An honest discussion about the $75k Bond and the fate of the small broker

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Comments (2)

bobby99 in Weehawken, New Jersey

42 months ago

I have seen a lot of chatter on here and other places in regards to the changes coming and new $75k bond. I own a small brokerage, about $1,000,000 a year. And while I'm making a nice living I'm not going to be able to come up with $65k to plunk down. I've spoke to my bond company as well as others and they don't seem to know exactly what is going on yet. In addition to that its getting harder and harder to operate. The LTL rates I'm getting from carriers aren't as competitive as they once were. What are some of you doing to prepare?

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jacobreid in Buffalo, New York

42 months ago

Hi Bobby, I work for a brokerage that has Agents. I used to work for another prior as well and this topic has been around for so long I find most ppl I have talked to are still waiting to see what happens. How, if at all, the law gets executed.

I can tell you if you need good LTL rates, the fairest Brokerage agreement in the industry and no restrictions so you can continue to run your business as you always have PLS is the place. Just wanted to share in case the day comes when the bond requirement inhibts your businesses production.

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