49 CFR 371.3 requires freight brokers to keep a record of every brokered load, including what the broker was paid, who paid it, the freight charges it collected and when it paid the carrier. It gives each party to the transaction the right to review that record. A proposed update would add electronic delivery within 48 hours, but it is not final.

What records must a freight broker keep under 49 CFR 371.3?

A broker must keep a record of each brokered transaction for three years. The record covers who shipped and who hauled the load, the bill of lading number, what the broker was paid and by whom, and the freight charges it collected and when it paid the carrier. In full, the record must show six things:

  1. The name and address of the consignor (the shipper)
  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 the broker received for brokering the load, and who paid it
  5. Any non-brokerage services the broker provided, what it was paid for them, and who paid
  6. The amount of any freight charges the broker collected, and the date it paid the carrier

Brokers may keep master lists of shippers and carriers instead of repeating names and addresses on every record.

Can a carrier see what the shipper paid the broker?

The rule gives you the right to review the record of your transaction, and that record must show the broker's compensation and the freight charges it collected. In practice, that is the information a carrier needs to understand the money on a load. The current rule doesn't say how fast a broker must respond or in what format, which is why many carriers find the right hard to use.

The exact wording of section 371.3(c) is short: "Each party to a brokered transaction has the right to review the record of the transaction."

How do I ask a broker for transaction records?

Ask in writing and keep a copy. Name the load by bill of lading or freight bill number, pickup date and rate confirmation number, cite 49 CFR 371.3(c), and ask to review the record of that transaction. Keep the request short and factual. If the broker doesn't answer, follow up in writing and note the dates.

Before you send it, read your broker-carrier agreement. Many agreements include a clause where the carrier waives its right to review the records. Whether that waiver holds up is a legal question for an attorney, not something we can answer.

Owner-operator reading a broker-carrier agreement on a clipboard in his truck cab
Many broker-carrier agreements include a clause about access to transaction records.

What would the proposed broker transparency rule change?

FMCSA has proposed rewriting section 371.3. The proposal would require brokers to keep records electronically, itemize every charge on the shipment including accessorials and any penalties, and send a copy to any party to the transaction within 48 hours of a request. FMCSA has since sent a supplemental proposal for White House review. Nothing has been finalized.

A few points about the proposal:

  • Records on request, not automatically. Brokers would send records when asked, not with every load.
  • Waivers. FMCSA declined to simply ban waiver clauses. Instead, the proposal treats record access as a duty the broker owes under the regulation, not a private right the carrier can sign away.
  • Confidentiality clauses in contracts would still be allowed under the proposal.

Until a final rule is published, the current 371.3 is the rule. Be careful with any website that describes the 48-hour requirement as already in effect.

Why does broker transparency matter in a payment dispute?

Records help when money is in question: unexplained deductions, detention or accessorial charges that never reached you, a claim the broker says the shipper made against you, or a fine the broker says it passed along. The record of the transaction shows what was actually charged and collected, so both sides can talk about the same numbers.

Brokers have their side too. A broker's margin has to cover its own costs, so a margin is not the same thing as profit. Transparency works best when both parties look at the record to settle a specific question, not to argue about margins in general.

What if a broker refuses or retaliates for asking?

Keep the written request, the broker's response or silence, and any later change in how the broker treats you, such as withheld payments, a cancelled load or a negative report. Write down dates and names. Then decide on next steps with the facts in hand. You can report a broker to FMCSA's Complaint Center, which takes complaints against property brokers.

You can also file a free complaint with us. We review the facts and contact the broker named in the complaint for its side. Related reading: what to do when a broker doesn't pay, broker coercion under 49 CFR 390.6 and double brokering vs. co-brokering. If a negative report followed your request, our guide to disputed FreightGuard reports explains how to respond with facts.

If you want to understand how brokers price and document loads, Freight University teaches the broker side of the business. For a carrier-side view of rates, Logistical Forwarding Solutions offers freight research for small fleets. If your question is whether a waiver in your contract is enforceable, the National Transportation Attorney Network can connect you with a transportation attorney.