Follow us on Twitter!
Blog Header Logo
DG&A's Transportation Consulting Blog
Subscribe to this list via RSS Blog posts tagged in broker bonds

At the time of this writing, there is less than a week until the new US federal $75,000 financial security requirement for freight brokers and forwarders goes into effect.  By now, most everyone has the deadline of October 1st committed to memory, but many still do not understand the options available to meet the FMCSA requirement.

October 1st Deadline Stands

According to the FMCSA (Federal Motor Safety Administration), all brokers and forwarders must file new BMC-84 and BMC-85 forms confirming $75,000 financial security as of October 1, 2013.  Although the FMCSA has allowed for a “phase-in” period which has created confusion, the agency’s guidance released September 5th indicated the extension was provided solely to allow the industry to complete all necessary filings.

If proof of the $75,000 bond or trust is not filed on time, freight brokers and forwarders will receive notification from the FMCSA giving 30 days to get the bond or trust in place before revoking the broker or forwarder authority.  The fact remains that brokers and forwarders must have the $75,000 financial security in place in order to operate legally.  Even though a broker may not be penalized by the FMCSA until December 1st, their clients will not be guaranteed payment until the $75,000 financial security is in place, likely affecting their ability to continue operations.

Map-21

...
Tagged in: broker bonds
Hits: 16369
0
Continue reading 0 Comments

Most Recent Posts

Search


Tag Cloud

Management Masters in Logistics President Obama Canada's global strategy freight broker Canadian truckers USA Truck derailments TransForce pipelines TMP Worldwide Success failure entrepreneur Global Transportation Hub small business Swift Finance and Transportation Freight NAFTA Celadon Doug Nix Canada freight RFP 360ideaspace Blogging tanker cars CRM cheap oil CSA Sales Management FCA 2014 freight volumes shipping wine CSX Failure network optimization 3PL freight audit freight payment Right Shoring Associates peak season Donald Trump ShipMax Wal-Mart Training New Hires Freight Management freight costs dynamic pricing Deferred Packaging future of freight industry transportation news Canada-U.S. trade agreement YRC David Tuttle Packaging US Manufacturing Search engine optimization trade freight transportation driver Load Boards Twitter online shopping Schneider Logistics Social Media in Transportation Bobby Harris business start-up Freight Carriers Association of Canada Truckload financial management FCPC automation MBA Dedicated Contract Carriage Rail New York Times professional drivers autonomous vehicles US Auto Sales freight rate increases Driving for Profit Distribution supply chain management mentoring Scott Monty US Housing Market Software Advice Success Colilers International Sales TMS carrier conference Transloading Entrepreneur NMFC Education Otto shipper-carrier roundtable Cleveland Cavaliers RFP Tracy Matura Accessorial Charges Carriers Global experience 2015 Economic Forecast LCV's $75000 bond Freight Rates Map-21 Crude Oil by Rail shipper-carrier collaboration Horizontal Supply Chain Collaboration truck driver freight transportation in 2011 Broker Werner freight bid Facebook Yield Improvement 2012 Transportation Business Strategies. Jugaad Transport Capital Partners (TCP) Freight Matching BNSF marketing Fire Phone intermodal Freight contracts Politics EBOR freight payment freight audit consumer centric e-commerce CITA Shipper Pulse Survey Transplace Emergent Strategy energy efficiency Derek Singleton coaching Load broker the future of transportation employee termination US Election JB Hunt Rotman School of Business Rate per Mile Adrian Gonzalez LTL UP Stephen Harper Trade Vision Life Lessons Driver Shortage Doug Davis Outsourcing Sales NCC hiring process Loblaw Shipper economic forecasts for 2012 shipper-carrier contracts transportation audit 2014 freight forecast Microsoft Transportation CP Rail Ferromex University of Tennessee Dedicated Trucking Hudsons Bay Company rail safety BlueGrace Logistics Sales Training Keystone Pipeline Trucking economy customer engagement Freight Recession risk management Business Transformation Strategy Freight Capacity 2013 Economic Forecast MPG Harper Davos speech fuel surcharge NS Regina Warehousing selling trucking companies capacity shortage CSA scores routing guide last mile delivery Job satisfaction trucking company acquisitions Spanx US Economy Retail transportation Comey Amazon broker bonds bulk shipping Muhammad Ali CN LinkedIn Trump Canadian freight market Omni Channel Canadian Transportation & Logistics 2014 economic forecast Grocery Leadership home delibery truck drivers freight cost savings FuelQuest Business Strategy driverless Freight Shuttle System Dan Goodwill Canada U.S. trade Conway Surety bond broker security FMCSA ProMiles shipping transportation newspaper robotics Consulting KCS Business skills Crisis management 3PLTL Transcom Fleet Leasing buying trucking companies natural disasters drones driver shortages Infrastructure Toronto Career Advice freight forwarders Training FMS Transportation Buying Trends Survey freight transportation conference CN Rail Social Media Whole Foods APL freight agreements dimensional pricing Reshoring solutions provider IANA home delivery Railway Association of Canada Canadian economy Climate Change Inbound Transportation capacity shortages Retail Transportation service

Blog Archives