FMCSA proposes tougher rules for truck broker financial backing

Jan 04, 2023 at 05:43 PM CST
The Federal Motor Carrier Safety Administration is proposing more oversight of truck brokers and freight forwarders and the surety bond and trust companies that back them up in an effort to ease the monetary pain they can inflict on motor carriers. “FMCSA believes that most brokers operate with integrity and uphold the contracts made with motor carriers and shippers,” the proposal states. “However, a minority of brokers with unscrupulous business practices can create unnecessary financial hardship for unsuspecting motor carriers.”

Jan 04, 2023 at 05:43 PM CST

The Federal Motor Carrier Safety Administration is proposing more oversight of truck brokers and freight forwarders and the surety bond and trust companies that back them up in an effort to ease the monetary pain they can inflict on motor carriers.

“FMCSA believes that most brokers operate with integrity and uphold the contracts made with motor carriers and shippers,” the proposal states. “However, a minority of brokers with unscrupulous business practices can create unnecessary financial hardship for unsuspecting motor carriers.”