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Factors Influencing Bond Costs
The cost of a freight broker bond is typically a small percentage of the $75,000 bond amount, often ranging from 1% to 5% annually2. Several factors influence this cost, including your credit score, financial history, and business experience. Brokers with excellent credit can expect lower rates, while those with less stellar credit might pay higher premiums. Some providers offer flexible payment plans, making it easier for new brokers to manage their cash flow.