Form BMC-85 Broker's or Freight Forwarder's Trust Fund Agreement Under 49 U.s.c. 13906 or Notice of Cancellation of the Agreement

What Is Form BMC-85?

This is a legal form that was released by the U.S. Department of Transportation - Federal Motor Carrier Safety Administration on December 31, 2020 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form BMC-85?
A: Form BMC-85 is a Trust Fund Agreement for Brokers or Freight Forwarders required by 49 U.S.C. 13906.

Q: What is the purpose of Form BMC-85?
A: The purpose of Form BMC-85 is to establish a trust fund to protect the payments that brokers or freight forwarders receive from shippers and carriers.

Q: Who needs to file Form BMC-85?
A: Brokers or freight forwarders engaged in interstate commerce who are required by law to establish and maintain a trust fund must file Form BMC-85.

Q: What is the trust fund used for?
A: The trust fund is used to safeguard the payments received by brokers or freight forwarders and ensure that they are available to satisfy any valid claims or obligations.

Q: What happens if the trust fund agreement is cancelled?
A: If the trust fund agreement is cancelled, the broker or freight forwarder must file a Notice of Cancellation of the Agreement.