InstituteFleet OperationsIn Depth Sub Topics (Level 4)TransportationOperating AuthorityBrokers and brokering freight - Motor CarrierEnglishAnalysisFocus AreaUSA
Broker regulations
['Operating Authority']
- Requirements for authorized property brokers include authority and financial responsibilities, as well as separate regulations contained in 49 CFR 371.
Authorized property brokers have ongoing regulatory responsibilities including recordkeeping, accounting, and compensation. Brokers cannot represent themselves as carriers. If a broker engages in any other activity, such as motor carriage, the accounts relating to the brokerage business must be separate from the accounts for other business activities.
In addition to complying with authority and financial requirements, brokers must comply with these separate regulations found in 49 CFR 371:
- 49 CFR 371.13 — Accounting
- 49 CFR 371.7 — Misrepresentation
- 49 CFR 371 — Brokers of property
- 49 CFR 371 Subpart B — Special rules for household goods brokers
- 49 CFR 387.307 — Property broker surety bond or trust fund
- 49 CFR 375 — Transportation of household goods in interstate commerce; consumer protection regulations