How To Become A Truck Broker
1. In order to learn exactly what a truck broker does you need to get trained. There are many ways to get trained as a truck broker including online training programs where you can quickly, easily and cost effectively training from the comfort of your own home. Click here to learn more about to pick the right how truck broker/freight broker training program for you!
2. Truck broker need to be licensed by the Federal Motor Carrier Safety Administration (FMCSA) in order to legally operate in the U.S. It's easy to get started just fill out the OP-1 application available through the Federal Motor Carrier Safety Administration (FMCSA). To register it only cost $300.
3. The next step is where many people get confused. The FMCSA requires that all truck brokers/freight brokers have a minimum of a $10,000 BMC 85 broker bond or a $10,000 BMC 84 broker trust in order to legally operate as a broker in the U.S. The reason why the FMCSA requires either a $10,000 BMC 84 or BMC 85 is to help protect the motor carriers from not being paid by truck brokers/freight brokers.
4 Once you get your BMC 84 pr BMC 85 you will need to provide proof of coverage to the FMCSA. The bond or trust company will supply you with the proof very quickly once all paperwork has been signed.
5 Because in many cases freight broker operate and move freight across state lines the FMCSA also requires you to file what is known as your BOC-3 form, also referred to as the Designation of Process Agent Form. This form allows each state you operate within to know exactly where to serve legal papers if the need arises.
6 The good news, the hard work is over. The bad news is it can take 4-5 weeks for the FMCSA to approve and activate you license. Once your license is active you can legally broker freight through your authority.
Click here to learn more about truck broker/freight broker training!
Click here to view a quick video that shows proof of how much truck brokers can earn and how truck broker agents can earn $10,000 to $50,000 month!