carrier plus broker o separate authority?

don't do either because it's a waste of your time. The $75,000 bond goes into effect in July of 2013, so unless you want to cough that money up and just let it sit there I'd stick to just being a carrier. That's what I would do personally if I wasn't contracted with LS and was on my own.

 

You're probably close to right on that one. TIA helped push this through so every broker that wasn't wealthy could buy a bond from them. I think this was a really bad law I hope somehow it gets turned back. Next thing they'll come after is carriers.

 

Will the new 75,000 bond requirement apply to already existing brokers as well or only new applicants for authority?

 

Bad law? I think very broker should be required to have a bond large enough to pay out to any one that they owe. Being burned by a few brokers myself and then seeing the same people open up under a different name while paying out 10k from their bond and then still owing out 200k or more to other people is horrible.

 

I think this law should have focused on those that don't pay their dues instead of a blanket bill that affects everyone. There are a lot of honest people/companies out there that will be put out of business because of this. It will eliminate a lot of competition and leave only "the big boys" to thrive. We all know how it goes from there. I have been burned by a few brokers too, but I also receive best rates from small brokerage companies. In my opinion, this new law only works in the favor of the big brokerage companies only and hurts carriers and truckers, as well, as small brokerage. Less competition is always bad idea if you ask me. Don't you think?

 

Yeah less competition is a bad idea but if you are going to be in business you need to always have the proper coverage to make sure you can cover yourself and your customers. The way it is now 10k is nothing. That is 2 trucks for a week worth of loads..

 

What they should do is pull MC#'s and prevent them from getting another until debts are paid.