Choptankblog

Choptank’s $100,000 Surety Bond

07.06.09

One of the requirements for a company to be a certified logistics broker is to participate in a surety bond program of at least $10,000.  TIA helps companies take this insurance further through their Performance Certified Program.  According to TIA, this program provides "a guarantee of freight payment to carriers, shippers and other third-party logistics providers in excess of the $10,000 bond required by the Federal Motor Carrier Safety Administration (FMCSA) to conduct business."

TIA's Performance Certified Program includes four leves: $10,000, $25,000, $50,000, and $100,000.  In early 2008, Choptank Transport became the first company to hold TIA's Performance Certification at the $100,000 level.  As of July 6, 2009, only thirty-eight other companies had been approved for the program at this level.

This program was developed to distinguish those brokerages with a proven history, and to provide an additional safeguard for carriers against fraud.  Choptank Transport remains committed to being a member of TIA's Performance Certified $100,000.

Posted by: choptank