Describe the key provisions of the Interstate Commerce Commission Termination Act of 1995
Railroad Regulations
· Rail economic regulation is basically unchanged by the ICCTA.
· The STB has jurisdiction over rates, classifications, rules, practices, routes, services, facilities, acquisitions, and abandonments.
· Railroads continue to be subject to the common carrier obligations (to serve, not discriminate, charge reasonable rates, and deliver).
· Rail tariff filing is eliminated; railroads must provide 20 days advance notice before changing a rate.
· Rail contract filing is eliminated except for agricultural products.
Motor Carriers
· All tariff filing and rate regulation is eliminated, except for household goods and non-contiguous trade (trade between the continental United States and Hawaii, for example).
· Motor carriers are required to provide tariffs to shippers upon request.
· Motor carriers are held liable for damage according to the conditions of the Carmack Amendment, (i.e., the full value of the product at destination). However, motor carriers can use released value rates that set limits on liability.
· The Negotiated Rates Act undercharge resolution procedures are retained and the unreasonable practices defense is extended indefinitely for pending undercharge cases.
· Undercharge/overcharge claims must be filed within 180 days from receipt of the freight bill.
· The STB has broad powers to exempt operations from economic regulation with the existing exemptions remaining.
· Antitrust immunity for collective rate making (publishing the national motor freight classification, for example), is retained.
· The motor carrier is required to disclose to the person directly paying the freight bill whether and to whom discounts or allowances are given.
· The concepts of common and contract authorities are eliminated; all regulated carriers can contract with shippers.
Freight Forwarders and Brokers
· Both are required to register with the STB.
· The freight forwarder is regulated as a carrier and is liable for freight damage.
· The broker is not a carrier and is not held liable for freight damage.
· The STB can impose insurance requirements for both.
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