Broker Transparency Rulemaking

Many ICSA members find working with freight brokers to be one of the most difficult parts of their job, especially when the details of the transaction are murky or kept confidential. Now FMCSA has extended the public comment period on its Notice of Proposed Rulemaking concerning transparency in broker transactions. The new comment deadline is March 20, 2025.

“Broker transparency” relates to the visibility of details when doing business with a broker. In its NPRM, FMCSA proposed four major requirements brokers would have to meet:

1. Keep records in an electronic format. FMCSA seeks to do away with the practice of some brokers that offer viewing of transaction records only at their place of business. Instead, brokers must keep and transmit records electronically.
2. Include itemized charges and fees on the transaction. FMCSA proposes that the broker transaction records include the dates of payment from the shipper to the broker and from the broker to the motor carrier and provide a full itemization and explanation of any brokerage services, charges and fees.
3. Provide carriers records upon request. The NPRM does not propose that brokers automatically transmit transaction records. Rather, if adopted, brokers would be required to respond to a request for records.
4. Provide records within 48 hours. To allow parties to resolve any issues in a timely manner, brokers would be required to provide transaction records within 48 hours of a request.

Comments may be filed at https://www.regulations.gov/document/FMCSA-2023-0257-0001.