So, I have a few questions about the way you usually invoice a broker/shipper. Do you just send them an invoice with the billing info broken down? How do you send it and how do they pay you? Do they pay by check, direct deposit, T check? In other words, what is the step by step process of sending a broker or shipper an invoice? Any information about how this is done would be very helpful.
Disclaimer: I am writing my thesis in transportation, which is why I am asking all the questions. I know these are really basic, but I'm hoping they'll be useful to someone in the future?
Collecting Payment from Broker
Discussion in 'Ask An Owner Operator' started by RandomChick, Aug 28, 2013.
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It really depends on the broker or shipper. None will pay until you present them proof of delivery and an invoice. You should initially have a rate confirmation with the terms and rate to be paid. You need to send them your rate confirmation, itemized invoice, signed bill of laden and any other paperwork related to the load. You can mail or overnight your paperwork if you wish. Some have Transflow or Trippak. I usually fax or email most of those with whom I do business unless they require original paperwork. Some I can upload my paperwork directly into their system. How you are paid depends on your contract with whomever you received the load. Most pay in 30 days from the date they receive your paperwork. They will then send you a paper check unless other arrangement have been made. Some will do a direct deposit, others may issue a comcheck or other guaranteed check. If you factor your receivables you will send all paperwork to them and they in turn will invoice and collect from the broker or shipper.
RandomChick Thanks this. -
not to knock on you, but do you realize that pretty much every question you have asked can be applied to nearly every business in every industry? none of them are specific to trucking, or atleast not the ones I've seen from ya.
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Fill out carrier agreement?
So, earlier today, I found a decent (finally!) paying load off a load board and squeezed the broker for more. I thought great, until I saw the carrier agreement the broker asked me to fill out. It was the longest form I've ever been asked to fill out. Is that normal? Usually, I just send over my documents to a broker and they do the rest. What is your experience like?
Load Board Rant
I've been using load boards a lot more frequently lately (my dispatch is ill, so I picked up the slack) and I just hate the way they work. Everything from brokers trying to (sometimes) scam me to waiting a long time for documents to be sent while I could be out driving. I can't tell if load boards just suck or if I'm using them wrong. Does anyone else feel the same way?
How do I stop running empty?
What are your tips to not run empty? I am probably running empty a quarter of the time and, like everyone, want to get the most bang for my buck. What are your tips to end running empty? Any solutions you've seen/thought of/heard that you can share?
AND THIS
Sincere question: why are you brokers around?
Okay, before you get angry, I want to make it known that I'm not a driver and I'm not a broker and I'm not a shipper. Just someone studying transportation, so, yes, I don't know what I'm talking about. HELP ME. I don't understand why brokers are around. Why don't shippers just use load boards like brokers do. This will drive down their costs and make things go faster. Do shippers dealing directly with carriers need to meet certain legal requirements? Can't they just check the FMCSA for carriers with good reputations? I'm sure it's not as simple as that, but I just dont understand, what are the reasons shippers use brokers if they can easily do it themselves by using load boards?
Just friendly question, can You explain Yourself a little?
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You either use a factoring company for a % or you can wait to get your money paid up to 90 days later
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The old fashioned way (I believe you could still consider industry standard) would be to send them your invoice, the rate confirmation contract for the load, and the Bill of Lading signed by the reciever (also called the proof of deliver or POD), as well as any other shipping documents. Then they are to mail you a check within 30 days.
Of course now we use all sorts of methods, email, fax, transflo, etc... to send the documents. And brokers use all sorts of methods, ACH deposit, various pay cards, comcheck, etc... to pay us. As well as offering us various terms to be paid quicker for a fee.
But there are still some who want you to mail original documents and send you a paper check by mail.RandomChick Thanks this. -
mp4694330 Thanks this.
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Hint. Any one out there can have access to this forum and yes they can be tracked but some can't be caught ....10/10 Hello Come in
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