Commercial Brokers operating in the State of Illinois are required under section 625 ILCS 5/18c-5105 of the Illinois Commercial Transportation Law to execute an Illinois Transportation Broker Bond to ensure compliance with licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Illinois Transportation Broker Bond holds you accountable for your business decisions.
By possessing an Illinois Transportation Broker Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.