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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 ).
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.
The Interstate Highway system (2007) Estimated average annual daily truck traffic for Interstate and major US Highways (1998). Components of diesel exhaust were confirmed as an animal carcinogen in 1988 by the National Institute for Occupational Safety and Health, and by 2002, the U.S. Environmental Protection Agency (EPA) considered it "likely to be carcinogenic to humans". [8]
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.
General Request, Response or Confirmation ... Motor Carrier Rate Proposal 107 ... Cargo Insurance Advice of Shipment 500
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 audit activity and the resultant motor carrier safety rating has been criticized for being imperfect, and perhaps misleading. Studies [2] [3] have shown that for a considerable number of audit items, correlation coefficients between audit item outcome and actual safety performance have counter-intuitive signs: the better the compliance rating of firms, the worse their accident rates.
The Interstate Commerce Commission (ICC) was a regulatory agency in the United States created by the Interstate Commerce Act of 1887.The agency's original purpose was to regulate railroads (and later trucking) to ensure fair rates, to eliminate rate discrimination, and to regulate other aspects of common carriers, including interstate bus lines and telephone companies.
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