Tuesday, July 23, 2013

Freight Broker Bond Increase

The most recently passed transportation bill has great impact on our industry as a whole and some very specific ramifications for brokers.

Under the new bill, the bond requirements for freight brokers will increase to $75,000 in October so the cost to be a freight broker will be higher than before.    The down side is that it will be a larger leap to be an independent freight broker financially.  Yet the cost still remains significantly less than most start-ups or franchises.

The upside is that this is still a very affordable line of work for someone willing to work hard to find success.  The higher cost will deter fly by nighters to jump into freight brokerage.   

The best way to succeed is to be educated in the most efficient process in freight brokering.  We will continue to teach individuals to be freight brokers and freight broker agents.  We are working to understand all this new bill requires so that we can then teach our students the most current information.

Have questions?  Give me a call.

Moving forward,

Jeff Roach

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