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Auto Transport Broker
An auto transport broker is a type of cargo broker that specializes in the shipping and transportation of vehicles. Most vehicles shipped in the U.S. are cars and trucks, but many brokers handle boats, RVs, motorcycles and other types of vehicles as well. Auto transport is classified as "specialized freight trucking" under NAICS code 484230. Overview An auto transport broker is part of the personal vehicle freight business industry chain. In the U.S., these broker companies must have proper licensing and authority from the FMCSA to be allowed to broker vehicles for customers. The individual or business that needs to move a car or other vehicle is the shipper; the shipper contacts a broker to have their vehicle shipped or transported. Once a broker is booked, the broker's job is to find a carrier, which is the individual or company that actually employs drivers and operates the car transport equipment. Brokers are employed because they have access to freight load boards, wher ...
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Car Transporter 001
A car or automobile is a motor vehicle with wheels. Most definitions of ''cars'' say that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people instead of goods. The year 1886 is regarded as the birth year of the car, when German inventor Carl Benz patented his Benz Patent-Motorwagen. Cars became widely available during the 20th century. One of the first cars affordable by the masses was the 1908 Model T, an American car manufactured by the Ford Motor Company. Cars were rapidly adopted in the US, where they replaced animal-drawn carriages and carts. In Europe and other parts of the world, demand for automobiles did not increase until after World War II. The car is considered an essential part of the developed economy. Cars have controls for driving, parking, passenger comfort, and a variety of lights. Over the decades, additional features and controls have been added to vehicles, making them progressively more complex. These i ...
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Cargo Broker
A shipping agency or shipping agent is the designated person or agency held responsible for handling shipments and cargo, and the general interests of its customers, at ports and harbors worldwide, on behalf of ship owners, managers, and charterers. In some parts of the world, these agents are referred to as port agents or cargo brokers. There are several categories of shipping agents such as: ''port agents'', ''liner agents,'' and ''own agencies'', each rendering specific services depending on the shipping company they represent. In other words, a ship agent is any person or company that carries out the functions of an agent. They can be in business as a ship agent, or they perform such functions as an adjunct to, or conjunction with, other activities such as ship owning or operating, providing cargo handling or similar. Shipping agents will usually take care of all the regular routine tasks of a shipping company quickly and efficiently. They ensure that essential supplies, cr ...
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North American Industry Classification System
The North American Industry Classification System or NAICS () is a classification of business establishments by type of economic activity (process of production). It is used by government and business in Canada, Mexico, and the United States of America. It has largely replaced the older Standard Industrial Classification (SIC) system, except in some government agencies, such as the U.S. Securities and Exchange Commission (SEC). An establishment is typically a single physical location, though administratively distinct operations at a single location may be treated as distinct establishments. Each establishment is classified to an industry according to the primary business activity taking place there. NAICS does not offer guidance on the classification of enterprises (companies) which are composed of multiple establishments. Codes The NAICS numbering system employs a five or six-digit code at the most detailed industry level. The first five digits are generally (although not a ...
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FMCSA
The Federal Motor Carrier Safety Administration (FMCSA) is an agency in the United States Department of Transportation that regulates the trucking industry in the United States. The primary mission of the FMCSA is to reduce crashes, injuries and fatalities involving large trucks and buses. History The agency was established as a separate administration within U.S. Department of Transportation on January 1, 2000, pursuant to the "Motor Carrier Safety Improvement Act of 1999." FMCSA is headquartered in Washington, D.C. and employs more than 1,000 people in all 50 States and the District of Columbia, with the goal of making "roadways safer for the public and the CMV industry". Main functions In carrying out its safety mandate to reduce crashes, injuries, and fatalities involving large trucks and buses, FMCSA: * Develops and enforces data-driven regulations that balance motor carrier (truck and bus companies) safety with efficiency; * Harnesses safety information ...
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Load Board
A freight exchange or load board is an online service for haulage companies, logistics providers, freight forwarders, transport companies and (in some cases) private customers. It allows haulage companies to search a database of available freight that needs to be delivered and advertise their available vehicle capacity. Logistics providers and freight forwarders can advertise their freight loads that need delivering and also match their freight loads to the available vehicle capacity. These systems provide a platform that allows carriers to communicate freight traffic information to fellow operators such as transporters, forwarders and logistics companies. They allow forwarders to advertise their freight either privately or publicly to a large number of freight operators that are looking for loads. They also allow freight operators to offer vehicle space. Online systems are often subscription-based with a small charge for advertising (posting) and searching (consulting). Some freig ...
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United States Department Of Transportation
The United States Department of Transportation (USDOT or DOT) is one of the executive departments of the U.S. federal government. It is headed by the secretary of transportation, who reports directly to the President of the United States and is a member of the president's Cabinet. The department's mission is "to develop and coordinate policies that will provide an efficient and economical national transportation system, with due regard for need, the environment, and the national defense." History Prior to the creation of the Department of Transportation, its functions were administered by the under secretary of commerce for transportation. In 1965, Najeeb Halaby, administrator of the Federal Aviation Agency (predecessor to the Federal Aviation Administration, FAA), suggested to President Lyndon B. Johnson that transportation be elevated to a cabinet-level post, and that the FAA be folded into the DOT. It was established by Congress in the Department of Transportation ...
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Car Carrier Trailer
A car carrier trailer, also known as a car-carrying trailer, car hauler, or auto transport trailer, is a type of trailer or semi-trailer designed to efficiently transport passenger vehicles via truck. Modern car carrier trailers can be open or enclosed. Most commercial trailers have built-in ramps for loading and off-loading cars, as well as power hydraulics to raise and lower ramps for stand-alone accessibility. Small car trailers Commercial car carrier trailers Commercial-size car carrying trailers are commonly used to ship new cars from the manufacturer to auto dealerships. In the United States, shipping of used vehicles is also a big industry, employed by car owners who are relocating and choose to ship their cars instead of driving, as well as consumers who have just purchased a vehicle on the second-hand market (particularly online) and need it delivered to their location. Like other semi-trailers, most commercial car carrier trailers attach to the tractor using a fi ...
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Federal Motor Carrier Safety Administration
The Federal Motor Carrier Safety Administration (FMCSA) is an agency in the United States Department of Transportation that regulates the trucking industry in the United States. The primary mission of the FMCSA is to reduce crashes, injuries and fatalities involving large trucks and buses. History The agency was established as a separate administration within U.S. Department of Transportation on January 1, 2000, pursuant to the "Motor Carrier Safety Improvement Act of 1999." FMCSA is headquartered in Washington, D.C. and employs more than 1,000 people in all 50 States and the District of Columbia, with the goal of making "roadways safer for the public and the CMV industry". Main functions In carrying out its safety mandate to reduce crashes, injuries, and fatalities involving large trucks and buses, FMCSA: * Develops and enforces data-driven regulations that balance motor carrier (truck and bus companies) safety with efficiency; * Harnesses safety information ...
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Surety Bond
In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the ''obligee'') a certain amount if a second party (the ''principal'') fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. The person or company providing the promise is also known as a "surety" or as a "guarantor". Overview A surety bond is defined as a contract among at least three parties: * the ''obligee'': the party who is the recipient of an obligation * the ''principal'': the primary party who will perform the contractual obligation * the ''surety'': who assures the obligee that the principal can perform the task European surety bonds can be issued by banks and surety companies. I ...
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Freight Broker Bond
A freight broker bond must be obtained by freight brokers and freight forwarders in the United States in order to obtain or renew their license. In the United States, freight broker surety bonds are required by the Federal Motor Carrier Safety Administration (FMCSA) to move property such as household goods or freight and motor cargo (vehicles). Their role is to guarantee that freight brokers and auto transport brokers will operate according to their agreements with shippers and motor carriers. If a freight broker or auto transport broker does not comply with their contract, the carrier or the shipper may file a claim. The three parties to the agreement are: * Principal: the freight broker / auto transport broker * Obligee: the party requiring the bond (FMCSA) * Surety: the surety company A freight broker bond is also known as a BMC-84 surety bond, trucking surety bond, transportation broker surety bond, or property broker bond. FMCSA uses the term "property broker" instead of f ...
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Moving Ahead For Progress In The 21st Century Act
The Moving Ahead for Progress in the 21st Century Act (MAP-21) is a funding and authorization bill to govern United States federal surface transportation spending. It was passed by Congress on June 29, 2012, and President Barack Obama signed it on July 6. The vote was 373–52 in the House of Representatives and 74–19 in the Senate. The $105 billion two-year bill does not significantly alter total funding from the previous authorization, but does include many significant reforms. The Congressional Budget Office estimates that enacting MAP-21 will reduce the federal budget deficit over the 2012–22 period by $16.3 billion. Key provisions * The number of funding programs is consolidated by two-thirds. * The environmental review process is reformed in an effort to speed up project development. More projects will be categorically excluded from review, and there will be a four-year review deadline enforced with financial penalties. (In 2011 the average review took 8.1 years.) * ...
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Barack Obama
Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party (United States), Democratic Party, Obama was the first African-American president of the United States. He previously served as a U.S. senator from Illinois from 2005 to 2008 and as an Illinois state senator from 1997 to 2004, and previously worked as a civil rights lawyer before entering politics. Obama was born in Honolulu, Hawaii. After graduating from Columbia University in 1983, he worked as a Community organizing, community organizer in Chicago. In 1988, he enrolled in Harvard Law School, where he was the first black president of the ''Harvard Law Review''. After graduating, he became a civil rights attorney and an academic, teaching constitutional law at the University of Chicago Law School from 1992 to 2004. Turning to elective politics, he Illinois Senate career of Barack Obama, repre ...
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