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Nearly 8,200 freight companies shut down after failing to post new surety bond requirement of $75,000

Written by Steve Gursten Posted January 22nd, 2014

truck on highway

As we’ve previously discussed on our blog, the Federal Motor Carrier Safety Administration (FMCSA) set new surety bond requirements for brokers and freight forwarders. As of October 1, 2013, freight forwarders had to carry $75,000 surety bonds. This marks a sharp increase from the old minimum, which was set in 1980, of $10,000.

A surety … Read More

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