What Is A Broker Bond?
A broker bond is a general umbrella term that includes many types of broker bonds such as freight broker surety bonds. Bascially a broker bond is a form of insurance that protects a customer from any illegal or unethical actions a broker may perform. Each specific type of broker bond has different rates and requirements.
Before brokers purchase a bond from an agency, they must submit themselves to a credit check, have their application approved, and go through other screening processes.
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