[Code of Federal Regulations]
[Title 49, Volume 5]
[Revised as of October 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR371.3]

[Page 69-70]
 
                        TITLE 49--TRANSPORTATION
 
                      DEPARTMENT OF TRANSPORTATION
 
PART 371_BROKERS OF PROPERTY--Table of Contents
 
Sec.  371.3  Records to be kept by brokers.

    (a) A broker shall keep a record of each transaction. For purposes 
of this section, brokers may keep master lists of consignors and the 
address and registration number of the carrier, rather

[[Page 70]]

than repeating this information for each transaction. The record shall 
show:
    (1) The name and address of the consignor;
    (2) The name, address, and registration number of the originating 
motor carrier;
    (3) The bill of lading or freight bill number;
    (4) The amount of compensation received by the broker for the 
brokerage service performed and the name of the payer;
    (5) A description of any non-brokerage service performed in 
connection with each shipment or other activity, the amount of 
compensation received for the service, and the name of the payer; and
    (6) The amount of any freight charges collected by the broker and 
the date of payment to the carrier.
    (b) Brokers shall keep the records required by this section for a 
period of three years.
    (c) Each party to a brokered transaction has the right to review the 
record of the transaction required to be kept by these rules.

[45 FR 68942, Oct. 17, 1980. Redesignated at 61 FR 54707, Oct. 21, 1996, 
as amended at 62 FR 15421, Apr. 1, 1997]