Dive into the latest FMCSA regulations and what they mean for your company's compliance, especially with recordkeeping and out-of-service order violations.
New year, new federal rulemaking alerts! Let's see what the Federal Motor Carrier Safety Administration (FMCSA) has proposed and passed as final rulings throughout the month of January.
Proposed Broker & Freight Forwarder Financial Responsibility Rulemaking
In a January 5, 2023 notice of proposed rulemaking, the FMCSA proposed implementing specific requirements under the Moving Ahead for Progress in the 21st Century Act (MAP-21). MAP-21 was introduced in 2012 to strengthen the US transportation system by reducing distracted driving, pushing to improve motor carrier safety, and achieving other transport-related goals.
Previously, FMCSA increased the financial security amount from $25,000 to $75,000 for household brokers and from $10,000 to $75,000 for all other property brokers. This is in addition to establishing financial security requirements for freight forwarders for the first time ever.
This proposed rule is designed to benefit motor carriers that may have had their payments for services they provided withheld by brokers.
In relation to this new financial requirement, the agency is proposing regulations that apply to brokers in the following areas:
- Having assets readily available
- Immediate suspension of broker/freight forwarder operating authority if they fail to comply
- Surety or trust responsibilities in cases of broker/freight forwarder financial failure or insolvency
- What enforcement authority looks like
- Entities eligible to provide trust funds for form BMC-85 trust fund filings
Have feedback on any of these topics? You can leave your comments on the proposal here through March 6, 2023.
Final Ruling of FMCSA Fines & Penalties Increase
As of January 6, 2023, the penalty amounts for committing FMCSA violations have been raised by a multiple of 1.07745. While this may seem minuscule, one of the highest fines for violating out-of-service orders has increased to $37,400. That's not a number to turn a blind eye to!
Find out the most notable penalty increases and how you can avoid paying them in this Foley article.
The Key to Meeting FMCSA Rulings? Compliance.
Keeping up with new FMCSA regulations can be a full-time job in itself. Luckily, you don't need to dedicate your precious time to such a task – Foley has you covered.
Every month we post a summary of the latest regulation changes you need to know about. Make sure you check the blog for regular updates! And if you have questions or concerns about your own DOT compliance, Foley's experts are always here to help. You can get in touch with us here anytime.
If you're looking to have complete peace of mind about your compliance, Foley's DOT compliance software is the solution for you. You'll have all the programs you need to meet federal regulations, pass audits, and maintain your safety rating.
Let our compliance specialists show you how easy it is to stay off the DOT's radar and avoid out-of-service orders. Schedule your free software demo today!
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