Insider Secrets to Successful Freight Brokering

Lesser Established Freight Brokers Lose Out .....

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

Freight Broker Bond: Here Is the Latest

According to James Lamb, founder of the Assoc of Independent Property Brokers & Agents, these are your options here:

For those currently holding the $10K bond/fund, warning letters go out on Nov 1st (if the $75K bond/fund is not in place. You then have 30 days to comply with the $75K bond/fund).

Licenses currently in good standing will not be revoked until Dec 1st. If your bond was cancelled before Oct 1st, it is now too late to get a $10k bond.

(For new freight brokers just getting started or for those whose $10K bond has been cancelled, the new $75K bond/fund will be the only option).

AIPBA lawsuit/injunction still in progress but has been stayed by court due to government shutdown

Smart Freight Brokers Are Getting on Board!

What’s holding you up?

I’m currently training a number of new brokerages and they are NOT going to let the new $75K bond/fund law keep them away. The rewards and potential income are too attractive to ignore. NOW, is the time to act if you are going to act at all. Here is why …….

First, the entire nation is facing a government shut-down. This shut-down will undoubtedly affect the processing of the surety bonds and trust funds. Other sectors of the economy and U.S. services will also be affected by closures and/or slow-downs.

If you want to broker freight, don’t wait for the government to get their act together. You might be sorry.

Second, for freight brokers, you have two months to phase-in the $75K bond/fund according to the FMCSA. The initial deadline was Oct. 1. It is now set back to Dec. 1 and, apparently, there is no need to back-date the bond or fund.

 If the prospect of spending several thousand dollars more per year is no problem, get on board now. The longer you wait, the higher your MC# will be and everybody wants a lower number.

If you are currently brokering and have your bond/fund in place, you are good to go until Dec. 1. However, check with your provider to make double-sure you are in compliance. Don’t rely upon this message only.

If you plan to become a freight broker right now and don’t want to wait, go here to find contact info for several bond/fund vendors.

http://www.atexfreightbrokertraining.com/OptInSuretyBond.shtml

Lastly, read today’s article by the AIPBA that has a law suit against the FMCSA. Go here now:

http://atexfreightbrokertraining.com/trustfundaug0612.shtml

Broker Bond 2-Month Phase-In from FMCSA

The FMCSA has recently issued a two-month phase in period for the new surety bond/trust fund. Apparently, you have until December 1, 2013 to get your $75K trust fund. Good news? I guess.

The problem is there is still A LOT of confusion on all this. Some say the effective date is still 10/1/13 (I tend to agree). Others say the new effective date is 12/1/13. Some talk about "back dating";others say there will be no back dating. It's a mess.

I will provide detailed and accurate info as it comes it. I wish you all the best as we all try to navigate these times of confusion.

One thing for sure, motor carriers will not be allowed to broker loads without their broker authority. We here at Atex Freight Broker Training, can not only help you get your authority, we can help find loads and pre-qualify other trucking companies.

Check out the website: http://www.atexfreightbrokertraining.com

Looking for a $75K Surety Bond/Trust Fund?

Check out a couple sources for your surety bond or trust fund. This new legislation takes place October 1, 2013 and you want to have things in place before then.

Go here now: http://www.atexfreightbrokertraining.com/OptInSuretyBond.shtml

New Freight Broker Legislation

Congress passed new regulations about two weeks ago to raise the surety bond/trust fund limit from 10K to 75K. What this means is that it will be more expensive to start and operate a freight brokerage.

The "bite", however, may not be as bad as one might think. And, there may be some "good" to come out of this. I will explain all this in another message.

If you are serious about freight brokering, this should not be a deterrent whatsoever. The potential for unlimited income is too great.

Stay tuned for more detailed information.

Freight Brokering: Getting Started

Many individuals think they can't get started if they don't have good credit or if they don't have $10,000 for the trust fund. This is not true.

In our training, we will work with you one-on-one to get your broker authority. If you have poor credit or no credit, you can expect to pay $950 for the first year for the trust fund. In the second year you would be making monthly installments to build your own $10K trust fund.

In the meantime, the company I work with will cover you for the full $10K until you have built your own trust fund.

This is a BIG break in order to help you get started. If you have not done so yet, grab a F.ree copy of "Introduction to Freight Brokering". Go to: http://atexfrei.ipower.com Find out how you can get started now.