classictransport
Joined: 2/7/2008
Location: Lewisville, TX
Posts: 5 |
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Bond or Trust ????
Posted: Tue Jul 15, 2008 1:55:34 PM |
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Help Please.... We have a carrier authority now and are just about to get my broker authority.We need to get a trust or bond. On the trust i understand we need to put up $10,000 cash or a letter of credit from our bank. The bond is what I don't understand. Our insurance company said they can do it for a couple of hundred dollars but they don't do this type of thing everyday. They are aware they need to file the BOC84 but, that does'nt sound right to me. A couple of hundred...is that all it takes are am I missing something????If someone would take the time for a little advise..Thank U.. Ray |
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