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  ^ Top   #51  
Old 08.08.2008
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Lilbit, saw your comment about carrying an additional surety bond. Admirable, not but not necessary or required. One thing you might consider doing is buying a contingent cargo policy. Most carriers have $100,000 cargo insurance and there are those times where the load value may exceed that amount. Unless that is conveyed to the carrier (load value) and a loss occurs, the carrier could be hung out with covering the additional loss. Some insurance carriers will allow the carrier to purchase a rider policy for the additional coverage, but some do not. Contingent cargo coverage is a good safety net for everyone.
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  ^ Top   #52  
Old 08.08.2008
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Lil you may find the first two months slow but should see things begin to pick up very quickly after that as O/Os begin to tell their friends.
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  ^ Top   #53  
Old 08.08.2008
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TX - thanks for the tip on the insurance. I'll add that to my list of things to look into. I'll probably start getting some rate estimates in a couple of months, as I won't need that stuff until I start my own. I'm hoping to be able to spend about 6 months as an agent, and then be able to launch solo. I also have to look into some software. I have found one that I am interested in, and the company is sending me more info on that. I will look into some other options for software as well.

I also found a site that has information on a lot of shippers and carriers (in the 100,000's on shippers) that I can access for various subscription rates. I'll probably start with a monthly subscription with them. I will need that kind of info as an agent as well. They have a sample list of shippers that I was able to look at that only included the company name, and there were a lot of very recognizable names on the list.

The one thing I am finding it difficult to find information on is actual shipping rates. That seems to be a state secret. I know there are a lot of factors involved in that, such as commodity, location of origin, etc, so on.

Well, time to log off for a bit, and go walk my dog. Can't wait until I can move into a place where I can just let her out to run. I'll just need an 8' fence for that! She can clear a 6' fence.
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  ^ Top   #54  
Old 08.08.2008
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Quote:
Originally Posted by Lilbit View Post
TX - thanks for the tip on the insurance. I'll add that to my list of things to look into. I'll probably start getting some rate estimates in a couple of months, as I won't need that stuff until I start my own. I'm hoping to be able to spend about 6 months as an agent, and then be able to launch solo. I also have to look into some software. I have found one that I am interested in, and the company is sending me more info on that. I will look into some other options for software as well.

I also found a site that has information on a lot of shippers and carriers (in the 100,000's on shippers) that I can access for various subscription rates. I'll probably start with a monthly subscription with them. I will need that kind of info as an agent as well. They have a sample list of shippers that I was able to look at that only included the company name, and there were a lot of very recognizable names on the list.

The one thing I am finding it difficult to find information on is actual shipping rates. That seems to be a state secret. I know there are a lot of factors involved in that, such as commodity, location of origin, etc, so on.

Well, time to log off for a bit, and go walk my dog. Can't wait until I can move into a place where I can just let her out to run. I'll just need an 8' fence for that! She can clear a 6' fence.
You will have to have to get proof of insurance and authority so best thing if their policy does not cover the cargo dont use them.
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  ^ Top   #55  
Old 08.09.2008
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You will have to have to get proof of insurance and authority so best thing if their policy does not cover the cargo dont use them.
Good tip here too. I like to cover my butt as much as possible. I also plan on checking safety ratings, etc, as well as checking the shippers out carefully too. I plan on paying my bills, so I want to make sure that the companies I am dealing with pay theirs.
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  ^ Top   #56  
Old 08.14.2008
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I have a question. As an agent, do I have to have a surety bond? My dad (retired trucker with 30+ years and also a former broker) seems to think I do.
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  ^ Top   #57  
Old 08.14.2008
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The bond applies to the "owner" of the authority. So if you are an agent only (working for a broker), then no you don't need one. If you apply for and are granted authority in your own name, then securing a surety bond and BOC-3 is required before your authority is actually active.
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  ^ Top   #58  
Old 08.14.2008
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The bond applies to the "owner" of the authority. So if you are an agent only (working for a broker), then no you don't need one. If you apply for and are granted authority in your own name, then securing a surety bond and BOC-3 is required before your authority is actually active.
Thanks TX! I thought that was the way it worked, just wanted to make sure. Just ordered the 'training manual' I wanted today, so I should have that next week some time, and hopefully, be ready to get rolling a week or so after that. I could wing it, but I'd rather have some guidance for getting started. I understand the basics of it, and I'm sure I could figure it out, but I'd rather not have to totally wing it!
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