Broker (Freight): Also known as a Freight Forwarder or Third-Party Logistics company (3PLs), that operates as a middleman between the customer and the carrier to negotiate freight rates, services and manage any complications throughout the shipment lifecycle. Brokerage License: A legal document re...
Broker: Tap into all IMC segments, but do not have a direct relationship with the railroads. Intermodal Association of North America (IANA) An industry trade association representing the combined interests of intermodal freight transportation companies. ...
The amount of money you can make as a licensed freight broker may vary throughout the year. Freight rates will vary by time of year and the type of goods carried. For example, states with more agricultural economies will tend to have higher cargo rates per mile in the summer when truck ...
The BMC-84 program is a directive from the FMCSA, ensuring that freight brokers operate within the United States’ regulatory framework. This bond acts as a financial safety net, guaranteeing that motor carriers and shippers are paid if a broker doesn’t honor its contracts. ...
/PRNewswire/ -- Yesterday, BondExchange announced to its agency plant a material reduction in premium rates on Freight Broker Bonds through its exclusive...
The cost of the bond premium is a function of the total amount of the bond. The higher the total amount the bond covers, the higher the premium. Freight broker bonds are required by the FMCSA. Failure to secure this freight surety bond could mean the loss of the broker’s license to ...
Freight agents don’t have to worry too much about repayment, as they usually act under a broker who handles the business side of the brokerage. If a customer does hold the company liable for any incidents, it will fall on the broker, not the agent or agency working with them. However,...
Freight brokers, as intermediaries between shippers and carriers, specialize in arranging the transportation of goods without ever taking physical legal possession of them. What this means to shippers is the cargo coverage is primary with the underlying carrier the freight broker uses on their freight...
Expedited Freight Company has also obtained an elite freight broker bond to guarantee that our contractual obligations to our carriers and shippers will be met. Our Quality Standards Ensure Customer Satisfaction: Safety - We only work with carriers who are highly trained professionals, licensed to ...
Considering a Customs Broker? Let Clearit Get You Sorted If you are planning to import a restricted product, check with the manufacturer that their products are registered with the FDA, and ask for proof. This guide was contributed by Andre LaMorgia from INLT ...