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A freight broker bond must be obtained by freight brokers and freight forwarders in the United States in order to obtain or renew their license. In the United States, freight broker surety bonds are required by the Federal Motor Carrier Safety Administration (FMCSA) to move property such as household goods or freight and motor cargo ( vehicles ).
[3] [4] There is a small application processing fee. Brokers are also required to obtain a bond. Known as a Freight Broker Bond, it exists to primarily serve as an insurance policy for motor carriers , in the event that a freight broker fails to remit payment to a carrier when required to do so by a load contract. A motor carrier can "file ...
A freight broker in the United States must be licensed by the Federal Motor Carrier Safety Administration (FMCSA) and be granted authority as verifiable via the FMCSA Licensing & Insurance database. [1] A freight broker, in freight transport , over land in the United States by truck [2] is often used as part of the logistics.
The Federal Motor Carrier Safety Administration (FMCSA) is an agency in the United States Department of Transportation that regulates the trucking industry in the United States. The primary mission of the FMCSA is to reduce crashes, injuries, and fatalities involving large trucks and buses.
A licensed carrier that holds itself out to hire under either a public tariff for the general public (for-hire common carrier) or under a contract filed with a specific shipper (contract carrier). For-hire carriers must apply for operating authority with the Federal Motor Carrier Safety Administration. [5] Irregular route See over-the-road.
A common property-carrying commercial vehicle in the United States is the tractor-trailer, also known as an "18-wheeler" or "semi".. The trucking industry serves the American economy by transporting large quantities of raw materials, works in process, and finished goods over land—typically from manufacturing plants to retail distribution centers.
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