Businesses all around the world have suffered during the global pandemic. However, there are certain sectors that have flourished irrespective of the setbacks. The health sector, pharmaceutical industry, e-commerce, and the transportation and moving sector are among the few notable ones. In almost every region of the world, transportation is one of the most developed and diverse sectors. Although it can be classified into different industries, the supplying sector is one of the most closely related parts. Various goods and products are transported by trucks and containers.
During the pandemic, there was an urgency for a more widespread and effective delivery system, as almost everything was remote. This gave an opportunity for investors and business enthusiasts to explore a fairly profitable opportunity in the trending sector. One of the major plus points of this business is that it provides never-ending opportunities, and gives a high margin of expansion in the longer run. This global pandemic may prove to be a blessing in disguise for the transportation and delivery sector. The industry has an opportunity to grow exponentially as more phases of digital transition occur.
Registering and starting your own trucking business
A business in transportation is usually highly dependent on the use of heavy vehicles, like containers and trucks. Even if you have the capital to invest in these vehicles, you have to ensure other aspects as well. These vehicles are bound to be registered with respectable government authorities. The authorities are able to monitor the operation of these trucking companies. It is critical to regulate and monitor the trucking industry in order to ensure a safe, efficient, and foolproof working environment.
Each registered truck is assigned a Motor Carrier (MC) number. People who work in the trucking industry depend on MC numbers. This number gives the authority to operate for different organizations. Some people find it difficult to understand how MC numbers work. You may have trouble figuring out the concept. In this article, we will explain it in an easier way, by discussing what MC numbers are and why you should acquire them. You can click here to get more detailed information about the procedure of acquiring an MC number.
An MC number is now required for every interstate carrier to operate legally. There are several variations of MC operating authorities. Based on what type of operating authority a particular owner selects, the kind of cargo and the type of MC that can be used are normally listed. A motor carrier of property transports regulated goods for the general public in exchange for payment. A wide range of household products is excluded from these goods. An authority of this sort is essential for workers to conduct their operations smoothly. Motor carriers of household goods are authorized for-hire transport services that move household goods such as refrigerators and furniture that belong to the hauler.
An alternative to applying for a USDOT Number would be for the company to have different types of authority, depending on the type of business activity. Furthermore, the kind of authority that will operate the FMCSA will have a significant impact on the type and level of insurance required. The owner should solely choose the operating authority that he or she requires since a refund does not exist.
Applying for new contracts or renewing your previous ones
The entire process for the registration of vehicles is rather simplified for the feasibility of the business owners. There are only a few factors that should be considered cautiously to go through the process smoothly. After determining the MC number’s cost and selecting the kind of authority the user needs, they should be good to go. Even so, there may be a few differences that are determined by whether the applicants are first-time applicants, whether they have had a USDOT number before and whether they are merely applying for extra authority. Apart from that, everyone goes through a somewhat similar process.
The new Unified Registration System will be mandatory for people who previously registered through the FMCSA. It will be much easier for the user to move through the process with the help of this site. Besides saving all information entered by the user, they will also keep a record of their departure in case they want to recover their lost information later on. In order to sign in, the user will be asked for their applicant ID as well as their password. There are a few essential requirements that you are expected to fulfill while applying for an MC Number. Firstly, you will need an ID Number of Employer identification number (EIN) or Social Security number (SSN). In addition to this, you are also required to provide a Dun and Bradstreet Number, along with the titles and names of the specific company officers.
The application will be processed 25 days after the user has completed the online registration process and paid off all the charges. If the application is subject to additional review, however, this timeframe could be extended further. The user should therefore anticipate the projected time duration in advance. They will be able to manage their time more effectively and avoid further delays. Usually, the process is completed within the mentioned time frame, but any delays should also be accounted for beforehand to minimize the complications. The FMCSA legacy registration system will allow all carriers who have applied and are registered with the FMCSA, or those who need another MC authority type, to submit an application online and pay fees. A PIN should be available so existing companies can electronically submit their applications. The system has been made more efficient and foolproof while providing users with more versatility.
Whether you are applying for an MC Number for the first time or you are renewing your existing authorization, it is essential for you to respect the process of registration. Also, to avoid any inconvenience for your trucking business, it is advisable for you to manage the authorization of your vehicles properly. This will be a major boost for the credibility of your small or large-scale business as well.