Illinois Freight Broker Bond
What is an Illinois Freight Broker Bond?
The Illinois Commerce Commission's Transportation Division requires that all Illinois Freight Brokers obtain a $10,000 surety bond.
The surety bond is to ensure that the Principal will "faithfully perform, fulfill and carry out all contracts, agreements and arrangements made by the Principal for the supplying of transportation of property subject to the Illinois Commercial Transportation Law."
This surety bond is in addition to the $75,000 Freight Broker Bond required by the FMCSA.
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