Bonds....

James' Bonds...

Offering FMCSA BMC-85 $75,000 Trust Fund Agreements 

for Property Brokers and Freight Forwarders

PLAN 3 – INTERNAL LETTER OF CREDIT

This option was expressly created to comply with the new legislation.  Pacific Financial will obtain a Letter of Credit from a third party Financial Institution on your behalf.  You will be obligated by an indemnity agreement to reimburse the third party if the LOC is ever drawn upon by the beneficiary.   As an added benefit within this option, you may decide to add additional funds toward your own dedicated trust fund to offset your annual fee.

Funds in Trust                                               Quarterly Payment            or               Annual Payment

$0-$9,999                                                                 $995                                                    $3,500

$10,000-$24,999                                                     $695                                                    $2,500* 

$25,000-$74,999                                                     $495                                                     $1,500

* Notice – Having funds in trust gives you a 28% discount on the annual fee!  You would have to earn a $1,000 in interest on those same funds to break even.  You can’t beat that with any bank or CD! As of May 6, 2013, the FDIC reports that the current National Rate for a 12-month CD is only 0.21%!