3PLNews.com

Sunday
May 19th
Text size
  • Increase font size
  • Default font size
  • Decrease font size
Home 3PL FreightCenter.com supports bond provision in newly passed transportation legislation

FreightCenter.com supports bond provision in newly passed transportation legislation

E-mail

FreightCenter.com, a third-party logistics provider specializing in freight planning and technology supports measures addressed in the 27 month transportation bill that will exist through 2014.

TRINITY, FL – FreightCenter.com strongly supports an industry regulation addressed in the 27-month transportation bill recently approved by Congress and signed by President Obama. The provision, which takes effect this month, mandates freight brokers and forwarders to carry a minimum $75,000 surety bond. In an effort to preemptively support this provision, FreightCenter.com increased its surety bond requirement in December 2011 to $100,000. The change in legislation allows for better protection for carriers and shippers.

Unchanged since mid-1980, the surety bond requirement ensures the financial stability of a third-party logistics provider and its integrity to uphold contractual obligations between carriers and shippers. According to the Transportation Intermediaries Association, the legislation establishes new bond and certification requirements for freight brokers like FreightCenter.com.

"Because carriers and shippers are our main customers, we believe it is only fair to protect both parties. As the freight brokerage business continues to expand, FreightCenter.com needs to further separate itself from small, financially unstable firms in the industry," said Matthew Brosious, chief executive officer and co-founder of FreightCenter.com.

Consistently doubling annual revenues for the past four years, FreightCenter.com harnesses the ability to connect carriers with residential and commercial shippers. With expertise in supply chain logistics and freight technology, the company arranges freight planning for any size shipper from large enterprise supply chains to residential households.

"We understand that stricter regulations make it difficult for other legitimate freight brokers to stay in business, which is why we offer solutions that help small, privately-owned businesses manage their expenses and generate new streams of revenue from less than truckload, truckload, intermodal and specialized freight," said Brosious.

The company offers flexible software options that allow smaller brokerages that cannot afford to acquire a high-cost bond in order to maintain their book of business by booking through FreightCenter.com or through software integration. Offering a private-label transportation management system (TMS) and various levels of system integrations, FreightCenter.com invites businesses to leverage its financial stability, procurement power and partner-carrier contracts.

About FreightCenter.com

FreightCenter.com is a leading online freight services provider developing tools that aim to simplify the freight shipping process for residential and commercial customers. Based out of the Tampa Bay area since 1998, FreightCenter.com offers shipping options for LTL, truckload, intermodal, rail, air and ocean freight. Combining innovative technology with automated shipping tools that include instant rating, booking and tracking, FreightCenter.com is one of the fastest-growing freight transportation companies. For more information, visit www.freightcenter.com.

 

Share this story

Share the news

Enter your email to receive news updates:

You'll receive a confirmation email from FeedBurner. Click the link in the email to activate the subscription.

Like 3PL News on FACEBOOK

Looking for a logisitcs provider?

If you need a provider of warehousing, order fulfillment and/or shipping services, we can help you get quotes.

Get quotes from top 3PLs

Current import/export data by HTS Code

Enter an HTS Code to view US import & export statistics from the U.S. Census Bureau.                  Powered by Zepol

Search for a code:
Enter HTS Code (i.e. 1234567890)