Broker Transparency Proposal Gains Momentum
A proposed broker-transparency measure would require freight brokers to maintain records electronically and provide copies of those records within 48 hours of a request, addressing long-standing concerns about access to transaction information in the freight industry.
Electronic Recordkeeping Proposed
The proposal includes four provisions intended to improve transparency in brokered freight transactions. One provision would require brokers to keep their records in electronic format.
The measure also would require brokers to provide a copy of those records within 48 hours after receiving a request. The available details do not specify which parties would be eligible to request the records or identify the full set of provisions included in the proposal.
Industry Awaiting Further Details
Truckers and other industry participants have been seeking greater transparency into broker records for several years. Access to transaction documentation can provide more visibility into the handling of freight and the parties involved in a shipment.
The proposal remains distinct from an enacted rule or law. Additional details will be needed to determine its scope, enforcement process and potential impact on brokers, carriers and shippers.
