September 6, 2013
Last year a transportation spending law was passed, known as MAP-21, which required freight brokers and forwarders to obtain a $75,000 surety bond by October 1, 2013. The FMCSA announced yesterday that they will allow these companies an additional 60 days, until December 1, to register and file proof of their $75,000 bond.
The new legislation also requires motor carriers who occasionally broker loads to meet the bonding requirement. The FMCSA stated that they will be sending out warning notices on November 1 to any brokers and forwarders that have not registered by that time.
To read the FMCSA’s Federal Register notice, click here: http://www.gpo.gov/fdsys/pkg/FR-2013-09-05/pdf/2013-21539.pdf