The definitions of freight “broker” and “bona fide agents” of freight brokers are being rethought by the Federal Motor Carrier Safety Administration. Do these terms need to be better defined?
Over two-thirds of carriers and shippers told Denim that eliminating paper checks would improve their business operations.
Whether you’re a motor carrier that works with brokers or you’re thinking of spinning off your own freight brokerage business from your fleet operations, you need to understand broker bonds.
It’s not hard for a motor carrier to set up a brokerage arm— it mostly requires filing paperwork, paying some fees, and arranging a financial bond.
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