Freight broker record-keeping rules

Brokers have to keep a record of each transaction. The rule is short and specific: 49 CFR 371.3. Good records also help when a carrier disputes a payment or a shipper asks what happened on a load.

This summarizes the federal rule and isn’t legal advice. Your contracts, tax rules and state law may require more.

What each transaction record must show

1. The consignor’s name and address.
2. The originating motor carrier’s name, address and registration number.
3. The bill of lading or freight bill number.
4. The brokerage compensation you received, and who paid it.
5. Any non-brokerage services you performed on the shipment, the compensation for each, and who paid it.
6. Any freight charges you collected, and the date you paid them to the carrier.

You can keep master lists of consignors and of carrier addresses and registration numbers, rather than repeating them for every transaction.

How long to keep records

The rule says three years. Check whether tax rules, contracts or insurance call for longer.

Who can see them

Each party to a brokered transaction has the right to review the record of that transaction. Some brokers ask carriers to waive this in their agreements, so ask your attorney about how that applies to you.

A simple way to stay organized

• Give every load one ID and use it on every document.
• File the rate con, BOL and POD and invoices with that load.
• Record the date you paid the carrier, not just that you paid.
• Keep carrier records current, including authority and insurance.
• Back up your records, and make sure you can export them.

In Juno, each load holds its documents, payments and notes together, and payments are recorded on the load. You can export your lists to CSV whenever you need them.

Common questions

How long do freight brokers have to keep records?

Three years under 49 CFR 371.3. Other rules or contracts may require longer.

Can a carrier ask to see my records?

The rule gives each party to a brokered transaction the right to review that transaction’s record. Agreements sometimes address this, so check with your attorney.

Can records be kept electronically?

Many brokers keep records digitally. Make sure they are complete, retrievable and backed up.