In early November, FMCSA stood up what amounts to a new flag on brokers/forwarders and motor carriers whose surety bonds/insurance have been marked for cancellation by the provider.
This example of a new surety notice of pending cancellation is in the FMCSA’s Licensing and Insurance public-facing page for a broker who notified its surety provider, Transport Financial Services, it was voluntarily ceasing business at the end of the year, says TFS President Marold Studesville. Brokers whose bonds have been cancelled after a run-up in claims, too, will be thus flagged, partially sealing a loophole that allowed dishonest brokers to conduct business with no intent to pay even as they went under — or were formed with no intent to pay to begin with.
“The goal is to help the public who does business with these regulated entities know that an insurance company or financial institution that made the initial filing has submitted a pending cancellation of the entity’s policy in our system,” say reps from FMCSA’s Licensing and Insurance division. “The notice will remain in place until either the effective date of the updated filing has occurred, or that the authority has been revoked, due to the failure to comply with the insurance requirements.”
The team at TFS and eTruckBook salute and appreciate our veterans and military! As a veteran myself, I truly understand how much military personnel and their families give to their country. Today is Veterans Day! Veterans day is intended to honor and thank all military personnel who served the United States in all wars, particularly
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A great article from 4Sight – optimizing your transportation operations and spend https://www.go4sight.com/practices/transportation?creative=376175063020&keyword=%2Btransportation%20%2Blogistic&matchtype=b&network=g&device=c&gclid=EAIaIQobChMI47_Tovux6wIVZeyGCh2CyQZtEAMYAyAAEgISefD_BwE
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Today, we must wear a mask when leaving our homes. It is now a necessity of life! In our materialistic world, people are trying to make money based on everyone’s need for a mask. Be assure that anyone who can follow a recipe and cook dinner, can make a home made mask, but here is
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