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DOT/FMCSA | RIN: 2126-AC10 | Publication ID: Spring 2019 |
Title: Broker and Freight Forwarder Financial Responsibility | |
Abstract:
FMCSA plans to initiate a 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 from $10,000 amount for brokers to $75,000 and, for the first time, established financial security requirements for freight forwarders. In the NPRM, the Agency will likely consider eight separate areas: 1) group surety bonds/trust funds, 2) assets readily available, 3) immediate suspension of broker/freight forwarder operating authority, 4) surety or trust responsibilities in cases of broker/freight forwarder financial failure or insolvency, 5) enforcement authority, 6) entities eligible to provide trust funds for form BMC-85 filings, 7) Form BMC-84 and BMC-85 trust fund revisions, and 8) household goods (HHG). |
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Agency: Department of Transportation(DOT) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: Undetermined |
EO 13771 Designation: Regulatory | |
CFR Citation: 49 CFR 387 | |
Legal Authority: Pub. L. 112-141, sec. 32918, 126 Stat. 405, 822 |
Legal Deadline:
None |
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Timetable:
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Additional Information: Regulatory: Annualized Cost; $0: Annualized Cost Savings; $0: FY2021 | |
Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Small Entities Affected: No | Federalism: Undetermined |
Included in the Regulatory Plan: No | |
RIN Information URL: www.regulations.gov | Public Comment URL: www.regulations.gov |
RIN Data Printed in the FR: No | |
Related RINs: Related to 2126-AB60, Related to 2126-AB74 | |
Agency Contact: Kenneth Riddle Office Director Department of Transportation Federal Motor Carrier Safety Administration 1200 New Jersey Avenue SE, W65-308, Washington, DC 20590 Phone:202 366-9616 Email: kenneth.riddle@dot.gov |