Association of Independent Property (Freight) Brokers & Agents - Truth, Integrity & Advocacy for Freight Brokers. (954) 253-5049
I am writing on behalf of the membership of the Association of Independent Property Brokers & Agents (AIPBA), the industry's leading trade group for small and mid-sized property brokers, essentially the industry's equivalent of OOIDA for brokers. I am writing regarding proposed legislation known as H.R.2357 - Fighting Fraud in Transportation Act of 2011, supported by OOIDA & TIA, the leading trade group for big brokers.
Last June, similar proposed legislation was introduced into the Senate (S. 3483) called the “The Motor Carrier Protection Act of 2010.” This bill would have, among other things, raised the financial security of property brokers who are licensed by the FMCSA tenfold from $10,000 to $100,000. That bill died in committee after we contacted the members of the Committee on Commerce, Science & Transportation and pointed out the adverse impacts on small business, including owner-operators.
The AIPBA similarly opposes HR-2357 in that it too seeks to implement a $100,000 property broker bond. If the bond were to be drastically increased as proposed, then small and mid-sized property brokers would not be able to afford the premium and/or the cash collateral requirements that would be imposed by surety companies. As a result, thousands of small business owners, including our members, would be forced out-of-business. Tens of thousands of employees and agents would lose their jobs. Big Brokers would then control the market and make shippers pay more and would pay owner-operators less. Everyone including small brokers, owner-operators, shippers and consumers would lose...everyone, except the big brokerages and the TIA.
To be fair to both sides, the AIPBA has advised FMCSA and Congress it supports a $25,000 bond to adjust for inflation; just like FMCSA has raised the household goods broker bond to $25,000 effective Jan. 1st, 2012. The states of Virginia and Florida also currently have a $25,000 bond for intrastate brokers.OOIDA members and readers can listen to our Midnight Radio Network radio interview regarding big business' attempt to squeeze out the little guys in the transportation industry... and visit our website www.independentpropertybro​ for further information.
We hope that OOIDA heeds Midnight Trucking Radio Personality Eric Harley's advice, re-thinks the impact and its position on a high bond that would hurt its members in the long run, and sees fit to publish this letter and share this information with its members.
AIPBA President
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