The newly formed Association of Independent Property Brokers & Agents
opposes a Senate broker bill and is offering a free online seminar July 15 to discuss the proposed law.
The Owner-Operator Independent Drivers Association and the Transportation Intermediaries Association, the brokers and third-party intermediary trade group, support the bill, S. 3483 or the Motor Carriers Protection Act of 2010.
AIPBA President James Lamb said an increase from $10,000 to $100,000 for a property broker bond will hurt smaller brokers and discourage new ones from entering the field. A one-year federal $10,000 property broker surety bond costs $350-$550 and instead he suggests increasing the bond to $25,000.
When the bill was introduced June 14, the American Trucking Associations said it supported a broker bond increase, but was reviewing the proposed legislation. It did not immediately respond to a request for further comment.
The bill also:
• Establishes strict penalties for violations, including unlimited
liability for freight charges for brokerage activities without a license or bond.
• Authorizes private damage remedies against companies that violate
Federal Motor Carrier Safety Administration regulations.
• Implements an annual registration requirement to renew
broker/forwarder operating authority and generate revenue for FMCSA
• Establishes strict regulations on bond providers and how bonds are
• Requires separate registration numbers per authority and whatever
authority used in a transaction must be in writing.
Sen. Olympia Snowe introduced a bill, which was referred to the Committee on Commerce, Science and Transportation with one co-sponsor.
Those interested in the webinar may register at www2.gotomeeting.com/register/313130370.
Affected trucks include model year 2008-2018 Freightliner Cascadia and Western Star 4700, 4900, 5700 and 6900 trucks. DTNA says after hard brake applications, the brake light pressure switch may not activate the brake lights with the light application of the brake pedal.