The FMCSA just released a notice with further guidance of the self-executing provisions of MAP-21 that take effect on October 1, 2013. Although the federal register notice indicates they will not begin enforcement of the increased surety requirement until November 1, it does state you MUST be in compliance on October 1, 2013 to avoid […]
Welcome to Pacific Financial Association
The Largest Issuer of BMC-85's in the Nation.
We issue BMC-85 Property Broker Trust Fund Agreements to qualified brokers satisfying the FMCSA Transportation Property Broker surety requirement.
When you're ready to become a transportation broker, we're ready to earn your trust by taking care of the FMCSA's bonding requirement and issuing a BMC-85 Property Broker Trust Fund Agreement. Only in a surety instrument issued through Pacific Financial are your interests truly protected. By having its own claims department, PFA offers unparalleled knowledge in claims service, handling all communications, verifications, and investigations relating to claims. With our extensive legal expertise in the specifics of freight broker regulations, PFA expedites legitimate claims and quickly identifies fraudulent claims thereby minimizing the impact on your cash reserves. Historically, PFA has the lowest claims ratio in the industry.
Contact our dedicated and experienced underwriting staff today and discover why we are the largest. Call today and Pacific Financial will issue a BMC-85 to satisfy the Federal Motor Carrier Safety Administration (FMCSA) bonding requirements and make you an active transportation broker. With us, your future and potential are unlimited! Learn More
Don’t forget to update your information with the FMCSA!
The FMCSA launched a phased rollout of the Unified Registration System (URS). All new registration applicants are currently using the new URS Application. Existing registrants (entities that have a USDOT number and/or operating authority) can update their information using all of the existing processes – online and paper forms – until September 30, 2016. After this date, existing registrants will use the new URS as well.
What’s New for PFA Brokers?
Pacific Financial Association now has autopay! Let us make things easier for you, our valued brokers, to make your BMC-85 trust fund payment. If you are not already signed up for autopay, please contact your account manager and receive $50 off of your next payment when you sign-up for this convenient service.
PFA Will Make This Work For You
As you are aware, legislation was proposed this year to increase the broker surety requirement to $100,000. Similar language had been considered a number of times in the past but never passed through committee in congress.
Continuing Bond Increase Danger
As some of you are well aware, the attempts of the largest transportation brokers in the country to increase the FMCSA bonding requirement for licensed property brokers from $10,000 to $100,00 still persists despite the failure of Senate bill, SB 3483, in 2010.
Common Broker Bonding Misconceptions
There are a number of significant misconceptions regarding which property broker surety instrument provider any current or prospective truck broker might choose to satisfy the FMCSA bonding requirement.
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