Freight forwarders are required to post $75,000 bond by fall

09/11/2013 | DC Velocity online

Brokers and freight forwarders will be required to post a $75,000 surety bond under rules issued by the Federal Motor Carrier Safety Administration. The rules become effective Oct. 1, but brokers will be allowed a two-month grace period to obtain the bond, which represents a considerable increase over the long-standing limit of $10,000. The bond will guarantee that motor carriers are paid in the event the broker doesn't make payment.

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