NightWind
Thanks for the confirmation on the info. Something else I think new o/o may not be aware of is in your lease READ IT, READ IT AND DID I SAY READ IT! just because it is a "standard lease" don't just sign it. You can negotiate. If you run % be sure to state who pays shag fees, lumpers,tolls,doc fees. Also if you run say T-check a lot of companies are themselves charging a $10 fee because "we are not a bank". If your using your money for say lumper which can run hundreds of dollars a week and gettin reimbursed. We told them to either not charge the T-check fee(NO DRIVER SHOULD BE CARRYING 2-3 THOUSAND DOLLARS CASH. ITS TWO DANGEROUS) or we charge a fee for the use of OUR money. Of course they didn't like it but we pay no company fee. Also remeber those comdata or T-check fees are tax deductable.
we have a lawyer with pre-paid legal go over our contracts and suggest changes. Some companies don'l like it(wonder why? lol) . It has saved us a lot of stress and money. Remember YOU have to look out for YOUR bussinness.

Nightwind,that was an excellent info piece that you put together.everything you say is 100% correct!although to many it seems overwhelming,a good registration service does alot of that for you.you hit the nail on the head about the plates-BUY YOUR OWN!!!!,once someone "pays" for you plates,you lose control of the truck!!!as for cash on hand--15k is the minimum i'd suggest having AFTER all fees,permits and insurance costs are paid.now that your up and running,THEN you can look into business credit(cards,loans).just use it wisely--no lift kits for your new F-150!!!when that truck goes in the shop-WHICH IT WILL,TRUST ME-that reserve will save your tail! thanks for the honest info to all those wanting to give it a try--so many think it is so EASY!!!

In two months I have to renew my CDL, I need to practice all DMV tests, do you know any website I can go and practice?
Appreciate your help

In two months I have to renew my CDL, I need to practice all DMV tests, do you know any website I can go and practice?
Appreciate your help

In two months I have to renew my CDL, I need to practice all DMV tests, do you know any website I can go and practice?
Appreciate your help

In two months I have to renew my CDL, I need to practice all DMV tests, do you know any website I can go and practice?
Appreciate your help

In two months I have to renew my CDL, I need to practice all DMV tests, do you know any website I can go and practice?
Appreciate your help

Thanks for the kind words. Getting in to the trucking industry can be overwhelming but with GOOD solid planning you can handle anything that needs to be done. I've found that most states will help you get what needs to be done and are glad to do so because it makes their job easier. The main thing is not to be afraid to ask questions and make notes.

My take on contracts. This really isn't just about contracts that you sign but ANY document pertaining to you and your business such as estimates for repairs, your contracts with your clients and employees as well as health care providers and insurance companies. NEVER sign anything you don't understand or agree with. Once it's signed they have you by the short hairs. I've wrote every contract that we had and I'll admit that they were written to protect the company's interest and no one else's. Even though I've had some legal experience with documents, I've always had my lawyer proof read them for legal errors so I didn't make a mistake.
A good thing to do is find a good lawyer that is familiar with trucking and business before you need one and sit down and explain what you are doing, what the goals are and take his advice.
Anytime there is a contract involved make sure you know what each charge is for, some one simply stating administrative charges isn't an explanation. I want to KNOW what administrative charges are and what they involve. When you write a contract spell out everything in it that the parties involved need to know. Don't leave out things such as detention time, damage to equipment and say Oh well I'll handle that when that happens. When it happens is NOT the time to be negotiating fees. It all comes back to PLANNING pure sweet and simple.

Hey NightWind, lots of good info here!

I have been driving trucks for the last 15 years, and I am in the process of starting my own freight brokerage. My question is on the BOC-3 filing. If Im operating out of California do I need a process server in Indiana if I broker the load to CA to Indiana? Or just CA as thats where I operate out of? Im a little confused about this. Any help you can offer is much appreciated!

The only place you have to have an agent is the states that you have an office in and write contracts from.
Go here for a list of companies that provide that service if your insurance company doesn't handle it [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

Nightwind, I appreciate your vast knowledge of regulatory and business aspects of this industry along with your willingness to help educate people. I have a question to ask you that was posed to me but I couldn't answer.

This person's father and uncle were partners in a trucking company. These two principle owners retired several years back and sold the company to a cousin of the afformentioned person. The cousin has since run the business into the ground. The owner(the cousin) is about to turn the key on the company and file personal bankruptcy.

Now on to the question; This person wants to obtain the icc/mc operating authority and dot numbers for multiple reasons(carry on family name, the icc number is well established and begins with 1#####). The obvious problem is that he doesn't want to buy the company and assume the debts and results of terrible mismanagement by the cousin. So the question is, Can it be done? Can you acquire an existing authority and transfer it to a different owner WITHOUT purchasing the entire company? In case it matters, the company is organized as an LLC.

Unfortuneately, I'm not as eloquent in converting my thoughts to words as you are. I hope you understand the situation that I am laying out and the question asked.

I am quite sure with a little reasearch or a call to some authorities, I could find this answer, but I figured you might know and it might be a good thing to share on this board.

Thanks for the compliment, I know it's hard to figure out these things and I believe that we should all help each other so we can all prosper. My knowledge is not as expansive as you think but I do try!

Yes you can do this without assuming the debts of the company. You would be buying the numbers not the company and it's debts and obligations. There would have to be a contract of sale out lining the terms and conditions.
However there will be credit issues if he lists the company in the bankruptcy filings. If he is only filing personal bankruptcy and doesn't list the company and it's assets (anything in the company's name and owned by the company) in the bankruptcy then there should be no adverse affects on the company or it's financial standing. The company's safety rating will be of some concern as well and I'd look it up here [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. and see if that is satisfactory. I'd also be sure that the company taxes are paid as well and get a copy of the return and any canceled checks that show the fines, taxes, and fees are paid. Make sure that the 2290 is paid along with any other trucking related debts that maybe owed including fines and state fees.
What you can do is have him fill out the application of transfer and submit it to FMCSA along with the proper fees, as long as these guidelines are met [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.
be in compliance with these regulations [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.
There are several things that need to be looked at in this case.

1. Are any of the debts in the company's name and are those debts in the bankruptcy filings.
2. Will he be changing the name that is connected to the MS and DOT numbers?
3. Are the taxes paid?
4. Is there going to be a contract for this transfer or are they just going "wing" it and hope for the best?

There are dozens of scenarios that I can think of that are applicable to this situation. Post back with responses to my questions and I'll try to give you a better response.

1. All of the debts are in the companies name. The mistake that the guy made was he overleveraged the company in an attempt at rapid expansion. He bought a matched set of 10 four year old used trucks with 100% financed. Within three months, three of the trucks were sitting with blown motors, and he lost the new contract that he had gotten that was supposed to keep those 10 trucks busy. So, long story short, with trucks sitting with major motor issues and running CHEAP broker freight in attempt to float along after losing his contract, it was only a matter of time. So along comes the finance company to repo ten trucks and 14 trailers that he had financed with them. When the dust settled after they liquidated all of the equipment, he is staring at a deficit of nearly $250,000. So now he is filing bankruptcy on the LLC(the company) and himself personally(his lawyer advised that that would be the only chance he would have to save his home as the finance company would be able to pierce the vail of the LLC and put a lien on it.).

I know you(Nightwind) didn't need all of this detail. I merely posted it as a "what not to do" for anyone else reading this thread.

Also, the companies credit rating is of little importance as he already has all of the equipment he needs and his personal credit is spotless.

2. He would like to keep the same name as is currently registered to the company as it is a family name that he wants to carry on. I am sure he would consider a minor modification to said company name if need be though.

This is a 40 plus year old, second generation company and they have a spotless safety and compliance history. The owner never did anything shady or immoral in that regard, he just did some very foolhardy things from a business standpoint.

3. Yes, both the income and payroll taxes are current. (At least he didn't make that fatal mistake.lol)

4. Knowing the man I'm acting on behalf of while doing this research, I don't think he wipes his butt without drawing legal documentation demonstrating how it's to be done.

Thanks again for your help and I'm trying to fulfill my obligation to this forum by posting as much detail as I can so other people may learn as well.

Thank You very much my friend. That is what I thought, but I was having a hard time finding a clear answer! Thanx for the link also!