New broker bond or trust should indicate effective date of Oct. 1

10/16/2013 |

Freight brokers have until Dec. 1 to complete BMC-84 and BMC-85 filings with the Federal Motor Carrier Safety Administration, but they are required to have a $75,000 surety bond or trust fund that is effective as of Oct. 1, according to this article. Brokers who fail to comply in securing proper bonding risk fines, the potential revocation of their authority and negative business consequences.

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