Freight broker income
An auto transport broker is a type of cargo broker that specializes in the shipping and transportation of vehicles. Most vehicles shipped in the U. An auto transport broker is part of the personal vehicle freight business industry chain. The individual or business that needs to move a car or other vehicle freight broker income the shipper; the shipper contacts a broker to have their vehicle shipped or transported.
Once a broker is booked, the broker's job is to find a carrier, which is the individual or company that actually employs drivers and operates the car transport freight broker income. Brokers are employed because they have access to freight load boardswhere they can post the job and find carriers that have transportation resources in the area. They can also get lower shipping prices by getting competing bids by different carriers.
However, brokers and carriers are not always separate entities - a number of auto transport companies handle both brokerage and transport. With the advent of the Internet, the auto transport industry freight broker income seen an influx of new brokers, attracted by the low cost of starting a brokerage business online.
While this encouraged greater competition and lower costs in the industry, government agencies have also seen a "dramatic increase in complaints against auto transporters and auto transport brokers" due to Internet fraud. Auto transport brokers in the USA are subject to government licensing.
Brokers are also required to obtain a bond. Known as a Freight Broker Bondit exists to cover losses by the motor carrier, in case the broker commits fraud or other lapses. The Moving Ahead for Progress in the 21st Century Act signed by President Obama on July 6 ofintroduced a number of new regulations for auto transport brokers.
The new provision goes freight broker income force on October 1,and has applied to all existing brokers retroactively. The freight broker bond cost is figured as a percentage of the bond amount depending on. Other industry associations have been supportive of freight broker income law. While the final rules in MAP fell short of the OOIDA's wishes, Todd Spencer, executive vice president of the organization, praised them as a "win-win" for truckers and legitimate brokers.
Freight broker income board member Ken Lund acknowledged that the new bond may freight broker income difficult for smaller brokers to pay, but defended it as "reasonably priced" and useful to prevent fraud. From Wikipedia, the free encyclopedia. The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. You may improve this articlediscuss the issue on the talk page.
June Learn how and freight broker income to remove this template message. Bureau of Transportation Statistics. Retrieved 11 December Archived from the original on December 9, Retrieved December 11, Archived from the original PDF on October 30, Archived from the original on 22 September Archived from the original on 28 February Archived from the original on November 9, Retrieved 12 December Archived from the original on August 7, Archived from the original on December 1, Retrieved from " https: Transport by cargo Business occupations Road transport.
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