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« Got Freight? | Main | Trucking Term of the Day: Bill of Lading (BOL) »
Friday
Sep272013

Broker and Freight Forwarder Bond Law begins October 1

DateFriday, September 27, 2013 at 8:21AM

The FMCSA will be implementing a new broker law beginning Oct. 1 and it will affect anyone acting as a broker or a freight forwarder, including motor carriers who broker loads. The law states that they are required to register and obtain broker or freight forwarder authority from FMCSA. Included in the list of provisions is the bond increase from $10,000 to $75,000 for brokers and freight forwarders. Furthermore, "brokers and freight forwarders will also now be subject to a minimum $75,000 financial security requirement."

Read the whole storey: Fleet Owner

AuthorCal Ocean Trucking | CommentPost a Comment |
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