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Since the law was passed, the number of new firms has increased dramatically, especially low-cost, non-union carriers. By 1990, the number of licensed carriers exceeded 40,000, more than twice as in 1980. Combined with the Staggers Act (1980), intermodal freight transport surged, expanding 70 percent between 1981 and 1986. [citation needed]
The law of carriage of goods by sea is a body of law that governs the rights and duties of shippers, carriers and consignees of marine cargo. [1]Primarily concerned with cargo claims, this body of law combines the international commercial law, the law of the sea and admiralty laws.
The Carriage of Goods by Sea Act (COGSA) [1] is a United States statute governing the rights and responsibilities between shippers of cargo and ship-owners regarding ocean shipments to and from the United States.
In order to obtain a license to broker freight, a freight brokerage must purchase a surety bond or trust agreement with the Federal Motor Carrier Safety Administration (FMCSA). [3] Prior to June 2012 when the bill was signed by President Obama, the surety bond coverage required to hold a broker license was $10,000.
Co-brokering is a legal practice used to ensure there is an available truck to transport freight. A 4PL may use a 3PL broker to match loads with trucks, with a shippers knowledge. The primary broker will take a lesser amount of the fee and the secondary broker will book the load for transport receiving a larger share of the same fee. [7]
The federal government has failed to support its claim that less-than-truckload (LTL) carrier YRC Freight, as well as Yellow Transportation and Roadway Express deliberately overcharged the U.S ...
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