Hey,
I would like to thank everyone for taking the time of viewing my thread and helping. I've been able to gather so much information from reading past threads but still have questions.
- I have been approved by JW Bond for $9,750 and by The Surety Group at $11,400. My credit is bad but in the past 6months, its been approving. Are these rates average for people who have bad credit?
- What is the purpose of this bond? The bond is BMC-84 . Are their others? If so what is the difference between them?
- After reading around, some people are suggesting to get some sort of insurance. How can get any? Why would I need any? Doesn't the hauler/shipper have insurance?
- I wanted to offer a fast turn-around on payments due to the hauler, I was going to use a factoring company to help with this. Can anyone assist on giving me the pros and cons of doing this? I understand that factoring will go into my profit margin, so please list anything other then that. Some Factoring companies state that I can receive the money within 24hours so I can offer a fast payment turn around or is this a mthy?
- Since I want to offer a fast turn-around on payments to the haulers, after reading I saw a few details about ComChecks & Tchecks. Can anyone please explain a bit more on this and how does this work? Is there any fees that I need to pay?
- Do you think haulers will accept this payment method? Once delivered, they send all documents confirming that load has been delivered. Once delivery can be confirmed, I will issue an ACH Deposit which takes up to 3 days or Same day if same bank. Bank that I will be using is Bank of America.
- How can I find shippers? Where can I find leads? How do I know the leads are real
- How do I know that the hauler and shipper has a good reputation?
- How does the IT Fuel Card work? Is it worth it?
- Does anyone have experience with a software called LoadPilot? Is there any others out there?
Any advice or comments will be much appreciated.
Thank you once again.
A few questions for a beginner on how to become a Freight Broker.
Discussion in 'Freight Broker Forum' started by whosjose, Mar 8, 2015.
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
-
Im only going to tackle the questions I believe I have useful info on. #2- the bond is something all brokers are supposed to have. Ive been told you are not allowed to operate as a broker without one. Im not too sure what the purpose is but for our own trucking side we are told NOT to even go near brokers without one. Its a good way to get screwed. #3 all brokers should also have contingent cargo insurance. Trust me you need it. 100,000 coverage is pretty standard. #6 Not sure on comcheck fees ( I know there are some) but we often pay our drivers quick pay with a comcheck and most don't have any problem with that. #7 THIS IS IMPORTANT PAY ATTENTION-you want direct shippers be smart about who you call. It would be worth it to sign up with the Blue Book. Any shipper, grower, produce buyer, distributor, produce broker etc has a profile complete with address, phone numbers, contact lists, emails, credit info etc. from there you are on your own, cant give away all our secrets! Also doesn't hurt to read the packer online. Its a produce news website. Doesn't hurt to be informed on the goings ons of the industry. #8 Lets say you successfully built a relationship with a customer and he wants to give you your first load. Before making him an active customer you need to as for references AND have a credit app. To go further into this ask someone more business savvy. credit app is a must and the direct customers are USED TO IT, if they don't want to sign one chances are they are an iffy customer. #10 NO, but we use Dr. Dispatch. It works well.
FYI TruckersREport people: please do not ban me I do not work for any of the above places that will and shall remain a mystery! Thank you....
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
