brokers archivos - SaintGeorge

$75,000 brokers bond rule now in effect

The FMCSA has the authority to suspend the operating license of transportation brokers whose minimum financial security falls below $75,000 After numerous debates, mixed opinions, and a long wait, the requirement for transportation brokers, originally imposed by Congress in 2012, has finally gone into effect. As of today, January 16, the Federal Motor Carrier Safety […]

Lawmakers propose 10% penalty for brokers hiring high-risk carriers

A new legislation was proposed to penalize brokers who hire carriers with a history of violations. On December 18, Republican Representative John Moolenaar of Michigan introduced H.R. 6884, a bill aimed at increasing the accountability of freight brokers and transportation intermediaries in their carrier selection practices by imposing a 10% penalty on those who contract […]

Challenges and uncertainties in the freight brokerage industry

The numbers and current state of the industry lead to the conclusion that the return of the full truckload market remains uncertain The downturn in the freight transportation sector continues to affect companies like Surge and Convoy, which have been forced to exit the business. With offer rejection rates around 4%, the first quarter of […]

Briefs: broker rule, Buy America exemption rejected, and U.S. diesel prices.

FMCSA issues new broker rule, House rejects “Buy America” exemption, and diesel prices remain stable. FMCSA establishes new regulations for brokers. In November, the Federal Motor Carrier Safety Administration (FMCSA) issued a final rule on the financial responsibilities of brokers and freight forwarders. This regulation, aimed at enhancing broker safety regulation, took effect on Tuesday, […]

Broker Fraud: trucking industry challenges and regulations

This situation significantly impacts small businesses and independent drivers Broker fraud costs the trucking industry up to $800 million annually. Representative Mike Bost voiced the issue of broker fraud in the trucking industry during a recent House subcommittee hearing. Bost thoroughly analyzed the situation and explained how this scam operates. There are individuals posing as […]