North Carolina Transportation Broker Bond Guide
If you’re applying for a transportation broker's license in North Carolina, you’ll need this surety bond.
Bond Overview
- Purpose: To insure the financial responsibility of the broker
- Who Needs It: Intrastate passenger transportation brokers
- Regulating Body: The North Carolina Utilities Commission
- Required Coverage: $5,000
- Premium Rate: $100 for a 1-year term
Learn all about the bond requirements and process in this guide.
What Is a North Carolina Transportation Broker Bond?
A North Carolina transportation broker bond ensures that licensed motor carriers with a brokerage license will operate according to state regulations and protect travelers.
The North Carolina Utilities Commission requires this bond as part of the licensing process for interstate passenger transportation providers in the state.
How Much Do Transportation Broker Bonds Cost in North Carolina?
A $5,000 North Carolina transportation broker bond costs a flat rate of $100 for a 1-year term. Or, you can save 25% by selecting a multi-year term.
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How Do I Get My Bond?
With SuretyBonds.com, you can buy your North Carolina transportation broker bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Utilities Commission as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a North Carolina Transportation Broker Bond Work?
As with all surety bonds, a transportation broker bond creates a legal contract between three parties:
- Principal: You, the transportation broker filing the bond
- Obligee: The North Carolina Utilities Commission requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of the North Carolina Public Utilities Act.
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 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.