FMS Management Services LLC
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FMS Management is a minority & family owned freight brokerage headquartered in Alabama and Tennessee
02/20/2023
The Federal Motor Carrier Safety Administration has issued a proposed rule establishing financial security requirements for freight forwarders, taking further action on legislation that stretches back over a decade.
The rule defines freight forwarders as “primarily those entities that assume responsibility for the transportation from the place of receipt to the place of destination, or use any part of the transportation for a carrier.”
The proposal calls for the implementation of certain requirements under the Moving Ahead for Progress in the 21st Century Act signed into law in 2012. Previously, FMCSA implemented a MAP-21 requirement to increase the financial security amount for brokers from $25,000 to $75,000 for household brokers and from $10,000 to $75,000 for all other property brokers. Financial security standards for freight forwarders were established for the first time.
Read the full article at FMCSA Denies Livestock Haulers HOS Exemption | Transport Topics (https://buff.ly/2IRtC0M)
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205-774-6896 (AL)
731-200-1733 (TN)
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Birmingham, AL
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