Found this on another link...
§ 371.3 Records to be kept by brokers.
(a) A broker shall keep a record of each transaction. For purposes of this section, brokers may keep master lists of consignors and the address and registration number of the carrier, rather than repeating this information for each transaction. The record shall show:
(1) The name and address of the consignor;
(2) The name, address, and registration number of the originating motor carrier;
(3) The bill of lading or freight bill number;
(4) The amount of compensation received by the broker for the brokerage service performed and the name of the payer;
(5) A description of any non-brokerage service performed in connection with each shipment or other activity, the amount of compensation received for the service, and the name of the payer; and
(6) The amount of any freight charges collected by the broker and the date of payment to the carrier.
(b) Brokers shall keep the records required by this section for a period of three years.
(c) Each party to a brokered transaction has the right to review the record of the transaction required to be kept by these rules.
[45 FR 68942, Oct. 17, 1980. Redesignated at 61 FR 54707, Oct. 21, 1996, as amended at 62 FR 15421, Apr. 1, 1997]
What interests me is section (c) at the end... How hard or likely would it be to get that information; and what hoops would need to be jumped through to get it?
Question for a couple brokers...
Discussion in 'Freight Broker Forum' started by Lady K, Nov 25, 2014.
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If you're talking about a carrier finding information regarding what the Broker was paid for your load then you will probably have a hard time getting that info quickly, most brokers don't want you to know unless you've developed some trust with them. In fact, most brokers will probably refuse to give that information up. If you have it in writing that you have the right to view it though then I suppose they would have to, I've just never seen that before. However if you're a broker trying to review the info for a load you took from a shipper then this is far easier- they should provide this to you upon request.
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I'm sure most would comply with the law. And then, unless a strong business relationship and a really good reason for making that request exists, probably never offer you a load again.
Lady K, double yellow and astanbrough Thank this. -
If you have a solid working relationship with a broker, just ask them. Approaching them that way may gain you more information and value.Lady K Thanks this. -
That is certainly going to be trickier to find out without alerting them to the fact that you're trying to get as much $$$ as you can out of them. Alot will depend on how you accept loads from them. If its simply an open bidding process than over time you can try higher rates and see what they approve. But if you're in a tier system that only allows you to accept at a certain price that you bid on for a whole year (or 6months, whatever) then you're stuck with what info they want to provide until they re-open the next period for bidding. Since you have it in writing you should be able to get that info, but like RedForeman said they may decided not to use you in the future.
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Lady K and rollin coal Thank this.
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if you got the loads then you were probably the cheapest rate they could get. certain shippers do pay better. but they are also a lot stricter on requirements. shipping rates are like $2.50 to $3.00 a mile on general freight. hazmat is like $6.50 plus a mile. I wouldn't worry so much about what others are getting in rates. I be more concerned about keeping the customer.
Lady K Thanks this. -
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