Federal rules pertaining to broker surety filings are in flux following congressional action last year that raised the minimum bond from $10,000 to $75,000. Still, basic procedures for filing are expected to remain.
The National Association for Minority Truckers has joined the Association of Independent Property Brokers and Agents in calling for legislative repeal of increased surety requirements for brokers and freight forwarders.
Small brokers group AIPBA planning court challenge to the new $75K broker/freight forwarder surety bond requirement.
Language in the tentative agreement raises the surety bond minimum to $75,000 from $10,000, where it had been since the deregulation era.
Surety bonds are being offered as part of the ITS Financial Services Diamond Broker program.
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