Data / Federal rules / 2024-27115
Transparency in Property Broker Transactions
The Federal Motor Carrier Safety Administration published this proposed rule in the Federal Register on November 20, 2024. Comments closed on January 21, 2025.
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What the agency says
FMCSA proposes amendments to its property broker rules in response to petitions for rulemaking from the Owner-Operator Independent Drivers Association (OOIDA) and the Small Business in Transportation Coalition (SBTC). Under current regulations, the parties to a brokered freight transaction have a right to review the broker's record of the transaction, which stakeholders often refer to as "broker transparency." Contracts between brokers and motor carriers frequently contain waivers of this right. OOIDA requested that FMCSA promulgate a requirement that property brokers provide an electronic copy of each transaction record automatically within 48 hours after the contractual service has been completed, and explicitly prohibit brokers from including any provision in their contracts that requires a motor carrier to waive its rights to access the transaction records. SBTC requested that FMCSA prohibit brokers of property from coercing or requiring parties to brokers' transactions to waive their right to review the record of the transaction as a condition for doing business and prohibit the use of clause(s) exempting the broker from having to comply with this transparency requirement. Though the proposed rule is responsive to the petitions in reinforcing the broker transparency requirement, the proposed provisions differ from those requested by OOIDA and SBTC. The proposed rule would revise the regulatory text to make clear that brokers have a regulatory obligation to provide transaction records to the transacting parties on request. The proposal would also make changes to the format and content of the records.
Key facts
- Document number
- 2024-27115
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking (NPRM)
- Agency
- Transportation Department; Federal Motor Carrier Safety Administration
- Published
- November 20, 2024
- Comments due
- January 21, 2025
- Dates
- Comments must be received on or before January 21, 2025.
- Docket
- Docket No. FMCSA-2023-0257
- Regulation ID (RIN)
- 2126-AC63
- Code of Federal Regulations
- 49 CFR 371
- Topics
- Brokers; Motor carriers; Reporting and recordkeeping requirements
- Pages
- 23
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|---|---|---|
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| Completed Inspection Report Disposition 2026-12450 | Final rule | Jun 22 |
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Everything from the Federal Motor Carrier Safety Administration · Rules on brokers · Rules on motor carriers · Rules on reporting and recordkeeping requirements · Published in November 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.