The U.S. Surface Transportation Board has imposed new disclosure rules for interchange commitments, adopting a proposal put forth for comments in November.
The new rules help ensure that all affected users are apprised of interline agreements and that information regarding price differential of the agreements is provided. The sale prices will, however, remain confidential.
Before a sale or lease can be approved, both parties must file a case caption indicating the interchange commitment; estimates of the price difference between a regular agreement and the interchange agreement; information concerning railroads, shippers and other parties affected by the transaction; and proof that shippers using the line have been notified.
“Under the board's former rules, if a proposed rail line acquisition involves an interchange commitment, the proponent must inform the board of the commitment, and must file with the agency a complete and confidential version of the agreement containing that commitment,” STB wrote in a statement. - Jon Ross