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Co-brokering is a legal practice used to ensure there is an available truck to transport freight. A 4PL may use a 3PL broker to match loads with trucks, with a shippers knowledge. The primary broker will take a lesser amount of the fee and the secondary broker will book the load for transport receiving a larger share of the same fee. [7]
The chief among them is raising the minimum broker bond from $10,000 to $75,000. The new provision goes in force on October 1, 2013, and has applied to all existing brokers retroactively. [8] The BMC-84 Freight Broker Bond is paid for on an annual basis. The freight broker bond cost is figured as a percentage of the bond amount depending on
Customs broker is a profession which expertise include tariff and customs laws, rules and regulations for the clearance of imported or exported goods or merchandise from customs authority, preparation of import or export documents including computation and payment of duties, taxes and other charges accruing thereon, representing clients before ...
A freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper ...
Total Quality Logistics (TQL) is a North American freight brokerage and third-party logistics firm. [4] It was founded in 1997 by Ken Oaks in Cincinnati, and is headquartered in nearby Union Township, Clermont County, Ohio, United States.
2003 Acquired Chicago-based customs broker and freight forwarder Osowski, launching Livingston into the U.S. air/sea customs and freight forwarding market. [14] 2005 Acquired Great Lakes Customs Brokerage, a U.S. northern border customs broker, and its software application business, SouthRanch. [15]
A shipping agency, shipping agent, or ship agency is the term used to refer to the appointed companies that handle operational and procedural (legal) requirements for a commercial vessel's call at a port for the purposes of cargo handling (loading/discharging), emergency calls, repairs, crew changes, or ship demolition, and protect the general interests of their principals on behalf of ship ...
Shanghai Shipping Freight Exchange is the first electronic shipping freight exchange in the world. It has three lines of businesses, including International Dry Bulk, Domestic Coastal Coal, and International Container. The container freight derivatives were launched in 2011 and shortly became the most liquid container freight contracts.
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