Factoring/New Authority

Ten four, and by your packet what do you mean? Do you disregard a brokerage’s packet and send them your own? Or do you fill there’s out and send your own pre made one in addition to theirs? Or ?...

 

@HopeOverMope

Carrier Packet = The setup packet + Your addendums. Stop overthinking...lol

 

Right, right... so are you expecting a brokerage to sign yours in return? The addendum

 

Your carrier packet consists of your authority letter from fmcsa
Same for Canada if you run there
Insurance certificate
A company letterhead page with address and all contact info
Maybe a w8ben or w9

Theirs = fill out and sign or initial every page....whatever it is they want. Sometimes they will send you excessive paperwork trying to sell you on quick pay or they want a description of the lanes you run. Sometimes they will include references showing their credit is good. Blah blah blah.

Been a while since I did any. It's all just a bunch of crap. Once you work direct with a customer you'll realize the middle man broker is just as bad as government paperwork. Just a lot of time and resource wasting is what most of it amounts to.

 

Ten four, nobody has asked me for my packet yet. I guess I should be making one up! I already got all of that made, just need to consolidate it all into one pdf file so I can shoot it out on the go. Thanks

 

No I dont, but, in this modern day, silence implies consent, therefore, if the broker does not "push back", and proceeds to load you, then consent is implied.

You will need to have such a clause in the addendum to cover that consent - in small font similar to how you gave Facebook all that consent for Cambridge Analytica to profile you, by mere fact that you told Facebook of all your "likes, shares, and subscribes"

 

I received a carrier packet the other day. In the 3 reference section they said, Landstar, CH Robinson or Coyote were not acceptable! LOL

 

That's it. It only serves the purpose of an informational packet - they just have your info, which you provide anyway by filling out their forms (their packet), which is a little redundant sometimes. Some bigger brokers won't even send you theirs in pdf file but a link in your email that will take you to their online form, which you fill out and sign electronically. Also, in the setup process, most brokers will want you to list them as Certificate Holders, so you need to call/email your insurance agent to do it for you. It should not take more than half an hour, or even less if the agent is good for you.

 

We decided against factoring. It seems like a trap! I would use a personal credit card before I factored a dime.
We use the brokers' quick pay option (most of the big ones have it). No problems with Landstar. We swapped the $ to our Landstar Plus card, and got paid within 48hrs.
Also got us a Comdata card with credit for incidentals. Some of the fuel cards will allow you to pay in 25 days. Between those two options & a little savings, factoring hasn't been a necessity.

 

Ten four, OOida has been very fast on certificate holders, usually 2-5 mins