Both Broker and Carrier

Aug 24, 2024 at 11:02 PM CST + 3
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Not sure if anyone knows if you can be a broker and a carrier under the same MC#? I’ve got my own carrier authority and wasn’t sure if I can add my brokers authority to my current MC# or would have to start a new company and apply for a new MC#. Seeing if anyone has experience in this. I appreciate anyone’s knowledge on this.

Replied on Sun, Aug 25, 2024 at 09:05 PM CST + 1
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. You can, and we do, but if that is your goal I would seperate them. Currently we only have a brokerage because I have O/O with their own authorities that pull our trailers. I do not intend to post loads like a "brokerage" but need a sureity bond to be legal. That being said there is a liablity for doing it this way. If you are just starting then start another MC as a brokerage. Take work as your brokerage and then assign it to your asset side. Makes it cleaner, keeps the customers informed, and then if one of your dispatched brokered carriers has a liabilty issue it does not come back on your assets.

Replied on Sun, Aug 25, 2024 at 09:05 PM CST

+ 1

Posted by a private BulkLoads.com member.

You can, and we do, but if that is your goal I would seperate them. Currently we only have a brokerage because I have O/O with their own authorities that pull our trailers. I do not intend to post loads like a "brokerage" but need a sureity bond to be legal.

That being said there is a liablity for doing it this way. If you are just starting then start another MC as a brokerage. Take work as your brokerage and then assign it to your asset side. Makes it cleaner, keeps the customers informed, and then if one of your dispatched brokered carriers has a liabilty issue it does not come back on your assets.

Replied on Mon, Aug 26, 2024 at 07:42 AM CST + 1
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Quote: "You can, and we do, but if that is your goal I would seperate them. Currently we only have a brokerage because I have O/O with their own authorities that pull our trailers. I do not intend to post loads like a "brokerage" but need a sureity bond to be legal. That being said there is a liablity for doing it this way. If you are just starting then start another MC as a brokerage. Take work as your brokerage and then assign it to your asset side. Makes it cleaner, keeps the customers informed, and then if one of your dispatched brokered carriers has a liabilty issue it does not come back on your assets. " This is exactly how we do it as well, for all the reasons Robert stated. We have a seperate LLC, seperate MC#, seperate EIN - all to help seperate liability.

Replied on Mon, Aug 26, 2024 at 07:42 AM CST

+ 1

Posted by a private BulkLoads.com member.

Quote: "You can, and we do, but if that is your goal I would seperate them. Currently we only have a brokerage because I have O/O with their own authorities that pull our trailers. I do not intend to post loads like a "brokerage" but need a sureity bond to be legal. That being said there is a liablity for doing it this way. If you are just starting then start another MC as a brokerage. Take work as your brokerage and then assign it to your asset side. Makes it cleaner, keeps the customers informed, and then if one of your dispatched brokered carriers has a liabilty issue it does not come back on your assets. "

This is exactly how we do it as well, for all the reasons Robert stated. We have a seperate LLC, seperate MC#, seperate EIN - all to help seperate liability.

Replied on Mon, Aug 26, 2024 at 08:21 AM CST + 1
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Hey Scott, We have helped several carriers set up brokerage authorities this year at Bulkloads. The main risk with having both listed on the same DOT is a possible insurance cancellation. Your insurance company most likely won't want the additional risk of having a brokerage as well. A separate LLC, DOT number, and contact info is best. If you have any additional questions feel free to give me a call. 417-262-5511. I can walk you through the process and if you like set things up for you. We can also get you a quote on a surety bond. -Tanner

Replied on Mon, Aug 26, 2024 at 08:21 AM CST

+ 1

Posted by a private BulkLoads.com member.

Hey Scott,

We have helped several carriers set up brokerage authorities this year at Bulkloads. The main risk with having both listed on the same DOT is a possible insurance cancellation. Your insurance company most likely won't want the additional risk of having a brokerage as well. A separate LLC, DOT number, and contact info is best. If you have any additional questions feel free to give me a call. 417-262-5511. I can walk you through the process and if you like set things up for you. We can also get you a quote on a surety bond.

-Tanner

Replied on Tue, Sep 03, 2024 at 07:24 AM CST + 1
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. I greatly appreciate all the responses and sounds like a clear answer. It makes since to keep them separate for liability reasons. I appreciate no one beating me up for asking about becoming a broker and keeping it positive again I appreciate it.