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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 ().
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.
In order to obtain a license to broker freight, a freight brokerage must purchase a surety bond or trust agreement with the Federal Motor Carrier Safety Administration (FMCSA). [3] Prior to June 2012 when the bill was signed by President Obama, the surety bond coverage required to hold a broker license was $10,000.
Auto transport brokers in the USA are subject to government licensing. The candidate must obtain an Operating Authority number from the Federal Motor Carrier Safety Administration by filling out a form on the FMCSA website. [3] [4] There is a small application processing fee. Brokers are also required to obtain a bond.
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 (party that arranges an item for shipment) by liaising with carriers (party that transports goods).
Federal regulators and a group representing auto insurers are backing conflicting data on the safety implications of new potential hours-of-service (HOS) exemptions for short-haul drivers. The ...
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 paper document between a shipper and a carrier acknowledging the receipt of goods for transport. Usually describes the nature of the cargo; hazardous materials classification (if any); amount of cargo by weight, size, and/or number of pallets, boxes, barrels, etc; and the origin and destination of the cargo.