40 percent of the load up front?
I have friend that does this and says if they are unwilling to pay 40% at pickup its a good sign they wont pay you in the end without constant bugging.
how many o/o here request?
Discussion in 'Ask An Owner Operator' started by 2hellandback, Nov 6, 2009.
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I am considering doing that with any brokers I do not have any history with. I just got hosed out of $1100 and I don't intend to have it happen again if I can help it. I am getting pretty picky about who I will haul for these days.
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well i guess this is not a comon practice then?
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I only accept COD and they have to pay before their vehicle is unstrapped and sign off on a inspection report. They don't pay in cash they are not getting their vehicle
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THE ONLY DUMB QUESTION is the one never asked.....
southernpride Thanks this. -
Boogie, i c your new year. may i suggest to you to tread a little lighter.
i've come across a 2nd comment of yours is less than 5 min. that is rough toned so too speak if you enjoy this site pls consider my suggestion.
bigray...Ducks Thanks this. -
With brokers failing at the rate they are, I think this is a good idea. Broker's get scammed too, so some of them may be leery about advancing money. I think if I was an independent right now, I would use non-recourse factoring just to not have to worry about this.
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WITH A STEMENT LIKE THAT I WONDERE HOW LONG YO WILL BE IN BUSINESS OR FOR THAT MATER HOW LONG YOU HAVE BEEN IN BUSINESS.
IF A LOAD GOES ON MY TRUCK they pay an advance befoe i leave with it or ill let them unload it simple as that and if i happen to think he might be a bad broker ill break down befor i reach destination and get the resrt of it if he dosent care about me i sure dont care about him.
southernprideenglewoodcowboy and FriedTater Thank this. -
I haven't been hosed yet but I have had a few take upwards of 90 days to pay. Trying to collect interest is a hit and miss. As far as getting some of them to pay 40% up front, that may cost you more as some of mine offer that as an advance and also charge you 5% for taking that advance.... You just have to read the fine print of your contracts and if one is approaching 30 days (like on day 25) get them on the phone, ask them when where etc. and then ask them for the paperwork to file a lien against their bond. By law they must give it to you upon request and this is usually enough to get that check in the mail. BTW FMCSA Law requires the shipper to pay within 15 days of reciept of conformation of load delivery. This is an ok law on its face but in reality it sucks for us. This is why most require the origional documents... it buys trhem time and makes us play interest free banker... One of these days this law will be addressed and improved (wishful thinking I know).
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for cars its COD only for me.
van loads always pay slow and its hard to get an advance, much easier with reefers and flats.
i have been burned for over 6k in non payments (Armenian scams). Now I do a whole investigation on the company before booking a load. Everything from safer web to references. You will usually get an good idea about the company from references.
When the broker is requesting the original BOL that raises a whole bunch of red flags.
Nobody takes the original BOL from me only copies. THE ORIGINAL BOL IS GOD in trucking, so dont give it up.
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