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<p>There are slew of regulatory issues on the horizon that will affect freight brokerage businesses, either directly or indirectly. Here are five regulations currently working their way through the system—and why brokers should care.</p>
If you’re a freight broker or 3PL without trucks, you know that your biggest asset is the carriers you use. They are your face to the shipper and the receiver and their performance—good or bad—determines how your customers view you. But how can you attract and retain the best carriers—the ones that deliver on time, with freight intact, and exuding the same kind of professionalism that you require of your staff?
Like many other brokerages, Carrier Services of Tennessee was hit hard by the recession that began in 2008. That year, the 21-year-old company laid off more than half its brokers—downsizing from 11 brokers to 5. Turning to technology--including DAT Keypoint TMS integrated with DAT Load Boards and DAT CarrierWatch--the company was able to double revenue with half the staff within three years.
The U.S. Department of Transportation’s proposed $302 billion transportation bill includes a rule that drivers be paid for the time they’re detained at shipper’s and receiver’s facilities. The bill states that the Secretary of Transportation may require motor carrier employers to compensate the employee for any on-duty, not-driving period at an hourly rate not less than the federal minimum wage.
Since the transportation bill became law a few months ago, I have received a lot of calls from brokers who want to understand the implications for their business. The law, dubbed Moving Ahead for Progress in the 21st Century (MAP-21), includes many provisions that affect freight brokers, but the $75,000 bond requirement has been the subject of the biggest ...