The Freight Broker Bond – Why ARPCO Increased Our Bond Early

Beginning October 1st, Moving Ahead for Progress in the 21st Century (MAP-21), Section 32915, required “anyone acting as a broker or a freight forwarder and subject to the Federal Motor Carrier Safety Administration (FMCSA) jurisdiction, including motor carriers, to register and obtain broker or freight forwarder authority from FMCSA.” So, whether you are a full-time freight broker, freight forwarder, or just a small trucking company that occasionally brokers out a load or two (with the exception of dealing with an interlining service)  the FMCSA now mandates that you have designated broker authority. To receive this authority, brokers and forwarders are required to file a surety bond or trust fund agreement with the Federal Motor Carrier Safety Administration to receive a freight broker’s license.

So, with greater regulation comes greater responsibility — financial responsibility that it. The bond amount also increased from $10,000.00 to $75.000.00.

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