The FMCSA has proposed new rules to boost transparency in freight broker transactions. This comes after requests from trucking groups seeking clarity on broker dealings.

The big picture: The FMCSA's proposal aims to amend regulations for freight brokers to ensure motor carriers have easier access to transaction records.

• The proposed changes would require brokers to keep records electronically, making it simpler for carriers to access these records remotely.
• Brokers would be mandated to provide requested transaction records within 48 hours, which is expected to help resolve payment disputes faster.

Details: The proposal highlights the need for visible payment structures in transactions, ending the current distinction between what brokers call brokerage and non-brokerage services.

Currently, motor carriers face practical challenges in reviewing transaction documents due to contractual obligations that often waive their rights. This rule aims to shift the burden to brokers to furnish these records when asked by transacting parties, according to the Federal Register.

What's next: The FMCSA is inviting public comments on the proposed rule until January 21, 2025, giving industry stakeholders a chance to weigh in and suggest improvements.

Once finalized, this rule has the potential to level the playing field for motor carriers, ensuring they have the necessary information to make informed business decisions.