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Clear Details Missing In ELD Compliance For Carriers And Drivers

 

While successful court challenges have managed to block a number of high profile regulatory changes in recent months, a Chicago court upheld a major new rule facing the trucking industry at the end of October.  The Federal Motor Carrier Safety Administration has issued a rule requiring trucking companies to install electronic logging devices aimed at ensuring compliance with hours of service safety requirements.  A legal challenge against this rule brought by the Owner-Operator Independent Drivers Association (OOIDA) failed to succeed.

Fiduciary Rule Changes Up In The Air

The Department of Labor’s new fiduciary rule with respect to retirement plans caused a lot of consternation when first announced.  The new rule created special rules aimed at limiting conflicts of interests within the world of investment advice for retirement accounts.  Some people within the industry decried the rule as more needless regulation that would only increase costs for consumers, whereas others simply saw it as codifying changes most investment advisors had already made in the wake of the 2008 financial collapse.  Now, though, several factors raise questions as to the rule’s status before it goes into effect in June of 2017. 

Small Motor Carriers Should Act Now To Be Competitive During FSMA Compliance

The Food and Drug Administration’s new rule on Sanitary Transportation of Human and Animal Food starts to take effect in mere months for those carriers that do not qualify as small businesses.  The rule defines small businesses for motor carriers as those carriers with less than $27.5 million in annual receipts. 

Avoid Contract Fatigue- Negotiate To Maximize Arbitration's Benefits

Business contracts often involve painstaking negotiations over contract clauses related to performance and price.  Given the care and time spent on these major clauses, it can be relatively easy to overlook other sections of the contract that seem like boilerplate.  These boilerplate terms of the contract, however, can have a great effect on the outcome of any dispute should one arise.