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DOT/FMCSA | RIN: 2126-AC10 | Publication ID: Fall 2023 |
Title: Broker and Freight Forwarder Financial Responsibility | |
Abstract:
FMCSA implements certain requirements under the Moving Ahead for Progress in the 21st Century Act (MAP21). Previously, FMCSA implemented the MAP21 requirement to increase the financial security amount for brokers from $25,000 to $75,000 for household brokers and from $10,000 to $75,000 for all other property brokers and, for the first time, established financial security requirements for freight forwarders. The agency implements regulations in five separate areas: 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; and entities eligible to provide trust funds for form BMC85 trust fund filings. |
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Agency: Department of Transportation(DOT) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: Undetermined |
CFR Citation: 49 CFR 387 | |
Legal Authority: Pub. L. 112-141, sec. 32918, 126 Stat. 405, 822 |
Legal Deadline:
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Small Entities Affected: Businesses | 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 |