Today, National Association of Chemical Distributors (NACD) President and CEO Eric R. Byer issued the following statement applauding the U.S. Surface Transportation Board (STB) for finalizing a rule that would increase accountability among Class I railroads by requiring them to provide specific information on demurrage bills:
“NACD has long advocated for greater transparency in demurrage billing and applauds the U.S. Surface Transportation Board for taking steps to hold Class I railroads accountable by mandating that they provide basic information in the invoices sent to rail customers.
“Demurrage is intended to serve the public interest by facilitating the flow of commerce through the prompt loading and unloading of cargo and the efficient use of rail cars and track. Clarity and accuracy of demurrage invoices is essential for the system to work as intended, and the Board’s finalized rule will facilitate that by requiring invoices to now include information such as billing cycle, shipment details, and the dates and times of original estimated car arrival time and actual car placement.
“NACD looks forward to providing additional input and working with the Board on future proposals that promote greater freight rail competition and commercially fair, transparent, and reciprocal treatment of rail demurrage and accessorial charges.”