Home > Forum > Why Not Ask The Broker What The Shipper Is Paying?

Why not ask the broker what the shipper is paying?

May 07, 2020 at 04:16 PM CST
+ 4 - 2
§ 371.3 Records to be kept by brokers.

(a) A broker shall keep a record of each transaction. For purposes of this section, brokers may keep master lists of consignors and the address and registration number of the carrier, rather than repeating this information for each transaction. The record shall show:

(1) The name and address of the consignor;

(2) The name, address, and registration number of the originating motor carrier;

(3) The bill of lading or freight bill number;

(4) The amount of compensation received by the broker for the brokerage service performed and the name of the payer;

(5) A description of any non-brokerage service performed in connection with each shipment or other activity, the amount of compensation received for the service, and the name of the payer; and

(6) The amount of any freight charges collected by the broker and the date of payment to the carrier.

(b) Brokers shall keep the records required by this section for a period of three years.

(c) Each party to a brokered transaction has the right to review the record of the transaction required to be kept by these rules.

[45 FR 68942, Oct. 17, 1980. Redesignated at 61 FR 54707, Oct. 21, 1996, as amended at 62 FR 15421, Apr. 1, 1997]
Replied on Sat, May 09, 2020 at 06:29 PM CST
- 2

OOIDA asks Congress to mandate brokers supply deal data to carriers: This is one of the headlines today. My comment on this is,>>>> OOIDA while you are seeking something from congress tell them to take what is now contained in Federal Regulations and put the same language into Federal Statute , which will be law instead of Regulations designed by a federal agency with no sanctions for non-compliance , which in essence forces an individual to sue in court to get the information. Put some teeth in it.

Replied on Wed, May 20, 2020 at 09:36 PM CST
- 1





Brokers association lashes out after OOIDA’s push for more transparency
May 18, 2020
|


In response to the Owner-Operator Independent Drivers Association’s push for more transparency with brokers, the Transportation Intermediaries Association is warning its members of an increase in inquiries to review information.
In a letter obtained by Freight Broker Live, TIA is telling its members how to respond to inquiries from owner-operators and small carriers regarding CFR 371.3. That regulation states brokers must keep records of transactions with motor carriers. One subsection of that regulation gives each party to the transaction, including the carriers, the right to review the record. This provision allows truckers to see exactly what their cut is of the full rate that the shipper paid the broker.
TIA is telling its members to “be very courteous to the carriers” when explaining their policies. However, the association is instructing members to essentially threaten inquiring carriers with fewer loads.
“Please have your sales and other representatives be very courteous to the carriers, take time to explain that if they do this, that you will be unable to load them with any shipper freight requiring confidentiality, and that represents ‘X’ percent of your available loads,” the letter states.

Replied on Thu, May 21, 2020 at 10:20 AM CST
Originally Posted by: ALLEN WINDER
Quote: " Brokers association lashes out after OOIDA’s push for more transparencyMay 18, 2020| In response to the Owner-Operator Independent Drivers Association’s push for more transparency with brokers, the Transportation Intermediaries Association is warning its members of an increase in inquiries to review information.In a letter obtained by Freight Broker Live, TIA is telling its members how to respond to inquiries from owner-operators and small carriers regarding CFR 371.3. That regulation states brokers must keep records of transactions with motor carriers. One subsection of that regulation gives each party to the transaction, including the carriers, the right to review the record. This provision allows truckers to see exactly what their cut is of the full rate that the shipper paid the broker.TIA is telling its members to “be very courteous to the carriers” when explaining their policies. However, the association is instructing members to essentially threaten inquiring carriers with fewer loads.“Please have your sales and other representatives be very courteous to the carriers, take time to explain that if they do this, that you will be unable to load them with any shipper freight requiring confidentiality, and that represents ‘X’ percent of your available loads,” the letter states."

Thats when you let broker know you must have trucks to move freight so you need buy you a fleet

Replied on Wed, Jun 10, 2020 at 05:19 PM CST
I have a customer she use to show me the shippers rates Honest one in a 1,000 I moved like 50 loads @ $47/ton Same loads same place another broker just cut $12.00 a ton imagine $12.00 x 24.5 = $294.00 per loads , poor rookies out there