The relatively new freight broker professional association, Association of Independent Property Brokers and Agents (AIPBA), was denied their request to exempt freight brokers from the regulations set forth in the MAP-21 legislation that increased the cost of the surety bond/trust fund in October 2013.
The FMCSA did admit the fact that nearly 10,000 brokers lost their authority in December 2013 and many have said that the increased cost knocked them out of the game.
The bottom line is that the requirement to acquire the $75,000 surety bond or trust fund will remain in place.
There are two other court cases pending before the U.S. Court of Appeals both of which were initiated by the AIPBA.
Stay tuned here to learn more about these pending court cases.
To learn more about the AIPBA, go here: http://aipba.vpweb.com/
Association of Independent Property Brokers and Agents
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