FMCSA to Host Forwarder 'Financial Responsibility' Roundtable Next Month
The Federal Motor Carrier Safety Administration (FMCSA) on May 20 will host a public roundtable on property broker and freight forwarder financial responsibility, focusing on existing trust fund industry practices, federal requirements in the arena, and the “underlying instruments” issued…
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for use by property brokers and freight forwarders submitting FMCSA Form BMC-85 to satisfy the agency’s financial rules, FMCSA said (here). The agency is seeking information from motor carriers and shippers that have encountered difficulties receiving compensation for claims against freight forwarders and freight brokers due to insufficient funds, it said. “This meeting does not pertain to increasing motor carrier, broker, or freight forwarder minimum financial responsibility limits,” FMCSA said. Comments may be submitted by May 11 at www.regulations.gov via Docket ID FMCSA-2016-0102.