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Okay today we're talking about the surety bond we get so many questions out there about the surety bond what is it how it works what is it going to cost me, so we're going to cover that information here in this video to give you a better understanding what the surety bond is and how it works so number one the surety bond is required by the Federal Motor Carrier Safety Administration it requires all freight brokers to have a ×75,000 surety bonds now previously prior to map-21 which is the moving ahead for progress in the 21st century bill it was passed and one of the requirements in that bill required that freight broker's move from a ten thousand dollar bond to a seventy-five thousand dollar bond and here was a reasoning behind that what was happening is a small fraction of freight brokers were coming into the business they were moving a lot of loads, and they weren't paying carriers, so this was having a tremendous effect on carriers and causing some issues and even running some carr

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