Trucking Glossary

FMCSA operating-authority registration for arranging covered transportation as a broker. It is distinct from motor-carrier authority; applicable financial-security and process-agent requirements also need to be met.

A surety-bond filing used by brokers to meet federal financial-security requirements, with required security of $75,000. A BMC-85 trust is an alternative. Eligible shippers or carriers may submit claims for a broker’s failure to fulfill its arrangements; $75,000 is not a guaranteed payment to each claimant.

Do not assume first-come-first-served payment. Promptly confirm claim documents and deadlines with the provider; broker financial failure has specific notice and claim procedures. FMCSA does not adjudicate individual payment disputes.

The transport capacity available for particular freight at a place and time. Truck count, equipment type, and driver availability all matter. Tight capacity relative to demand can make trucks harder to secure and push rates up; the nationwide truck count alone is not enough.

A rate agreed in advance for a lane or period. The contract sets pricing, duration, and adjustments; fuel may be separate. A contract rate does not by itself guarantee volume or ensure it is above or below the current spot rate.

An online subscription marketplace where carriers search loads by lane. Examples: DAT, Truckstop, 123Loadboard.

Also: freight board

A per-load price negotiated in the spot market (load boards), moving with short-term supply/demand.