A freight broker, as described by the Federal Motor Carrier Safety Administration, is an individual who acts as a "property broker"---a licensed individual or corporation that helps make a shipper or authorized motor carrier more successful. If you intend to become a fully licensed freight broker, you'll need to procure three important documents that qualify you for this relatively new career.

Broker's Authority

A Broker's Authority essentially gives you the legal ability to operate as a freight broker within the United States. To obtain this license, fill out Form OP-1 through the Federal Motor Carrier Safety Administration (FMCSA) and pay the required fee, which will total roughly $300.

Surety Bond

Next, obtain a surety bond from either a bank or a bonding company in the amount of $10,000, which acts as a type of insurance to cover you as a freight broker. Fill out form BMC-84 or form BMC-85 through the FMCSA. If you have particularly good credit, a bank or company may put up your bond for a much smaller fee. According to gatlineducation.com, that fee could run between $500 and $700 per year.

Processing Agent

Finally, obtain a document known as a processing agent---essentially, a nationwide list of individuals who can receive court papers on your behalf should a court of law contact you about your brokering--- by filling out Form BOC-3 and paying the processing fee of $50. Once you've gotten all three of these documents in hand, you have all of the necessary qualifications to become a legally endorsed freight broker.

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