Broker and Freight Forwarder Financial Responsibil
On September 27, 2018 (83 FR 48779), the Federal Motor Carrier Safety Administration (FMCSA) published a Advance Notice of Proposed Rulemaking (ANPRM) in the federal register initiating rulemaking action pertaining to the implementation of the Moving Ahead for Progress in the 21st Century Act (MAP-21). MAP-21 raised the financial security amount for brokers to $75,000 and, for the first time, established financial security requirements for freight forwarders. In this ANPRM, FMCSA is considering eight separate areas: Group surety bonds/trust funds, assets readily available, immediate suspension of broker/freight forwarder operating authority, surety or trust responsibilities in cases of broker/freight forwarder financial failure or insolvency, enforcement authority, entities eligible to provide trust funds for form BMC-85 trust fund filings, Form BMC-84 and BMC–85 trust fund revisions, and household goods (HHG). FMCSA seeks comments and data in response to this ANPRM. Comments on this document must be received on or before November 26, 2018.
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