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e-CFR data is current as of September 17, 2020

Title 49Subtitle BChapter IIISubchapter BPart 387Subpart D → §387.413


Title 49: Transportation
PART 387—MINIMUM LEVELS OF FINANCIAL RESPONSIBILITY FOR MOTOR CARRIERS
Subpart D—Surety Bonds and Policies of Insurance for Freight Forwarders


§387.413   Forms and procedures.

(a) Forms. Endorsements for policies of insurance, surety bonds, certificates of insurance, applications to qualify as a self-insurer or for approval of other securities or agreements, and notices of cancellation must be in the form prescribed at 49 CFR part 387, subpart C.

(b) Procedure. Certificates of insurance, surety bonds, and notices of cancellation must be electronically filed with the FMCSA.

(c) Names. Certificates of insurance and surety bonds shall be issued in the full name (including any trade name) of the individual, partnership (all partners named), corporation, or other person holding or to be issued the permit.

(d) Cancellation. Except as provided in paragraph (e) of this section, certificates of insurance, surety bonds, and other securities and agreements shall not be cancelled or withdrawn until 30 days after the FMCSA receives written notice from the insurance company, surety, freight forwarder, or other party, as the case may be.

(e) Termination by replacement. Certificates of insurance or surety bonds may be replaced by other certificates of insurance, surety bonds, or other security, and the liability of the retiring insurer or surety shall be considered as having terminated as of the replacement's effective date, if acceptable to the FMCSA.

[55 FR 11201, Mar. 27, 1990. Redesignated at 61 FR 54710, Oct. 21, 1996, as amended at 62 FR 49942, Sept. 24, 1997; 75 FR 35329, June 22, 2010; 80 FR 63710, Oct. 21, 2015; 84 FR 51434, Sept. 30, 2019]

Effective Date Note: At 82 FR 5310, Jan. 17, 2017, §387.413 was suspended, effective Jan. 14, 2017. At 84 FR 51434, Sept. 30, 2019, the suspension was lifted and amendments were made to §387.413. In that same document, §387.413 was again suspended indefinitely.

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