New $75,000 bond?

I believe for my 10k bond t cost me $800. To 75k Bond will be of similar payment. Don't need the whole amount

 

Brokering sounds easy. I am surprised that more of you aren't selling your trucks and brokering freight. No risk and easy money. And the best part is you can be one of the "honest" ones and getting carriers should be easy. They way I figure it, if you are only keeping a 10% margin then your rates will be so much higher than anyone else the carriers will lining up to haul for you.

Also, because you don't need to make 40-50% (or greater margins) you can actually undercut those greedy brokers, get the freight, make a decent living while being home every night and the carrier is also making a fair rate.

All you need is a phone, a fax and some pens.

 

I have never thought a real broker had it easy. Unless you mostly double broker off load boards, you have to find and call on clients, if they can find time to talk with you. If you are actually trying to get good rates, you are fighting every other rate cutter broker that has called on the same people. Try to work around when they need trucks, especially if they wait until the last minute to call you with hot freight, or take all day or more to load truck, then you have mad drivers.

You then have to hope this company doesn't give you a bunch of loads and not pay you, or pay slowly, while you front an advance, and if you get paid slow, pay the truck the full amount before you see a dime. You also have to worry about what kind of truck and driver will show up. Will they break down, be rude and tick your customer off. Will they get in an accident, and any of thousands of other things.

My problem is the bar is so low to enter there are so many bad seeds that are ignorant of what is involved, or the professional rip off artist that change names constantly in order to deep an operators money.

But, I guess the same could be said about new O/Os. With so many lease to own dealerships out there, the bar is low to get into trucking, except for the cost of truck, cargo, and many other insurances and DOT items if you are truly going to be an independent O/O. But that person can only affect himself and any broker one load at a time, where a bad broker can affect many good O/Os per day.

 

I think alot of the bond issues came up when Indiana-based Eastern Livestock took farmers, and livestock markets for over $130 million, this don't take into account the trucking companies that are owed for trucking services, all this hanging on if im not mistaken on a $50,000 bond. any large broker will do 20X a $75,000 bond and be able to stick it to everyone the same way.

 

I'm hoping atleast it will stop all these idiots from S. Florida from being a (auto trans) broker. Last week they were working at Citi bank doing collections this week there the top auto transport company in the nation according to their website and load board profile.

 

It's NOT just in S. Florida, I literally have 20 calls a day that are new brokers, or brokers that have been around for a while but only dealt with cars asking me if "this" load will fit on a 53' will this fit on a step, can you get these on a wedge, what does this weigh, how tall is this piece of equipment.

The last couple of years I feel like I'm the industry's Wiki source for vehicle information!

Stan

 

Can we get a broker in any state for our bond?

Thanks in Advance...
Al

 

my bonding co offers several options none good in my opinon mine has went from 900.00 a yr to 3600.00

 

So basically, YOUR BUSINESS EXPENSE went up 51.90 PER WEEK ?


Are you strictly a broker, or do you own equipment ?

 

This has been my point all along. $52 a week isn't a hardship, and should barely be noticed by any broker with their own freight. However it will be a barrier to entry for anyone with crap credit that goes the trust route, especially the Pacific Financial type brokers.