Broker Bond Implementation Update
February 12, 2013 11:00 AM
Among the many provisions in MAP-21 was an increase in the bond required of entities registered as brokers from $10,000 to $75,000. On Wednesday, Feb. 6, FMCSA provided an update to its Frequently Asked Questions to inform the public that the increased bond requirement will become effective on October 1, 2013. In addition, FMCSA provided some further background on who must register and obtain the bond. For a link to the FAQs, please click http://www.fmcsa.dot.gov/documents/MAP-21/Broker-Rule-Questions.pdf.