Illinois Transportation Broker Bond Guide
If you’re applying for a commercial transportation broker's license in Illinois, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect shippers and carriers from financial harm
- Who Needs It: All licensed brokers in Illinois
- Regulating Body: The Illinois Commerce Commission, Transportation Division
- Required Coverage: $10,000
- Premium Rate: $125–$1,000, credit-based
Learn all about the bond requirements and process in this guide.
What Is an Illinois Commercial Transportation Broker Bond?
An Illinois commercial transportation broker bond, also known as a freight broker bond, holds brokers accountable for following state laws and regulations.
The Illinois Commerce Commission, Transportation Division requires this bond to protect shippers and carriers that work with licensed freight brokers in the state.
How Much Do Freight Broker Bonds Cost in Illinois?
Illinois commercial freight broker bonds cost a small percentage of the bond amount, typically 1.25–10% based on credit. For example, you could pay as low as $125 with excellent personal credit.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Commercial Transportation Broker Bond?
The Illinois Commerce Commission, Transportation Division requires this bond for all transportation or freight brokers in the state.
Commercial freight brokers work with motor or rail carriers and shippers to arrange for-hire transportation or property. The bond protects carriers, shippers and related parties from financial harm caused by brokers.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get an Illinois freight broker bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your free quote in 1 business day
- Sign: Complete the indemnity agreement and provide any requested information
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to mail the original bond along with your application forms to the address below:
Illinois Commerce Commission
Transportation Division
527 East Capitol Avenue
Springfield, Illinois 62701
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does an Illinois Commercial Transportation Broker Bond Work?
As with all surety bonds, a transportation broker bond creates a legal contract between three parties:
- Principal: You, the freight broker filing the bond
- Obligee: The Illinois Commerce Commission, Transportation Division requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding Chapter 18C of Illinois Commercial Transportation Law and all other provisions.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your commercial transportation broker bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
