$100,000 Broker Bond

Discussion in 'Freight Broker Forum' started by G/MAN, Mar 17, 2012.

  1. aiwiron

    aiwiron Road Train Member

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    Truth,

    The pain which is given without reservation
     
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  3. gravdigr

    gravdigr Road Train Member

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    Is TQL Total Quality Logistics, or something like that? If so they are on my companies no haul list, I can't book any loads through them. We do have good relations with landstar though it seems. Kinda sad TQL has a lot of freight that moves from within 50 miles of home, but if they don't pay the bills...
     
  4. cpape

    cpape Desk Jockey

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    trust me...you are not missing out on anything.
     
  5. LSAgentOZR

    LSAgentOZR Road Train Member

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    Careful... You boys are going to all end up on their naughty list... :biggrin_25517:
     
  6. G/MAN

    G/MAN Road Train Member

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    I guess that I will need to learn to live with it. :biggrin_2556:
     
    LSAgentOZR Thanks this.
  7. cpape

    cpape Desk Jockey

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    If it gets them to stop calling me and my staff, just let me know where to sign up.
     
    aiwiron and G/MAN Thank this.
  8. aiwiron

    aiwiron Road Train Member

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    Good deal, kind of like the Christmas present you always wanted.
     
  9. FourCircles

    FourCircles Bobtail Member

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    Update on a class action lawsuit over the bond increase. I will copy from Linkedin - James Lamb of DOT Authority. (I have no affiliation, just posting his side.)

    [h=3]Blowing the whistle on the OOIDA TIA Broker Bond Deal:[/h]On July 2nd, 2012, OOIDA Business Services Manager Karen Johnston's letter to Transport Topics regarding "higher broker bonds" (http://www.ttnews.com/articles/lettertemplate2.aspx?storyid=29635&t=Letter-Higher-Broker-Bonds) was published. Johnston's letter targeted Pacific Financial Association President Daniel Larson's June 18th 2012 opinion (http://www.ttnews.com/articles/basetemplate.aspx?storyid=29546&t=Opinion-Higher-Bonds-Still-Not-the-Answer) that had criticized the TIA's recent flip-flop on the broker bond issue.

    By way of background, in 2004, OOIDA asked FMCSA to promulgate a property broker bond between $350,000 and $500,000. Initially, TIA President Robert Voltmann opposed their request and said in Transport Topics (http://www.ttnews.com/articles/basetemplate.aspx?storyid=11447): "Fraud exists in both the brokerage and the motor carrier industries, and increasing the bond will have no effect on fraudulent operators." Then, TIA started selling $100,000 bonds to property brokers. In early 2010, TIA and OOIDA announced to the industry they had (magically) "compromised" on a $100,000 bond amount to "fight fraud."

    Apparently, there is a good reason OOIDA has come to the defense of the TIA. The AIPBA has received new information that reveals, as we suspected, the deal that OOIDA & TIA struck was not about "fighting fraud" as the two groups purported but was actually about selling financial security, which is a revenue stream for both organizations. What Ms. Johnston neglected to mention in her letter is that prior to the OOIDA-TIA deal, the quality of the insurance OOIDA sold in terms of their "rating" was looked down upon by TIA. However, once OOIDA agreed to accept TIA's $100,000 bond, we understand TIA gave OOIDA their nod on OOIDA's insurance rating. Without TIA's acceptance, OOIDA was headed out of the insurance business. So, the real purposes of raising the broker bond were apparently to make all brokers have to buy a bond at an amount conveniently already offered by the TIA (and get rid of the smallest "underfunded" brokers who wouldn't qualify)... and facilitate and retain OOIDA insurance sales to their owner-operator members. So, it appears the only thing "compromised," here, was the integrity of the two trade groups and the bona fide interests of their respective memberships. Poor ATA was bamboozled into jumping on the bandwagon.

    What the two trade groups couldn't possibly anticipate, however, was the formation of a new trade group for small brokers by a former DOT investigator.

    A new $75,000 bond will take effect in July 2013, which will cause tens of thousands of brokers and agents to lose their jobs because of the higher underwriting standards that will result from the bonding companies' increased risk exposure. No longer will mom and pop trucking companies be able to qualify for a broker license to broker out excess freight. Once the big brokers control the market, shippers will pay more and owner-operators will now be paid less. The price we pay for goods as American consumers will now skyrocket out of control thanks to this TIA written legislation as we small business owners try to navigate the turbulent waters of economic recovery and keep our heads above water.

    Small business owners in this industry deserve much better. I encourage owner-operators and small and mid-sized carriers, brokers and forwarders to stand behind the AIPBA as we now seek to repeal this anti-competitive legislation, which conflicts with this nation's long standing Federal Transportation Policy under 49 U.S.C. 13101, and work to promulgate a fair and balanced bond amount through the FMCSA:

    See our Press Release at http://aipba.vpweb.com/upload/aipbarepealrelease.pdf

    Sign our Petition at: http://www.petitiononline.com/100KBOND/petition.html

    Over 1,400 of you already have.

    JAMES LAMB, PRESIDENT
    http://www.AIPBA.ORG
     
  10. Jr0033

    Jr0033 Bobtail Member

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    I have a question....I delivered a load for TQL but they refuse to pay me .they say the load had shortage or damages that wasn't reported. I have signed bills from the customer saying everything was accounted for but the broker say the customer filed a claim. now I sitting wait in to get paid but they say it could take up to 9mos. do anybody have any suggestion?!!!!!
     
  11. G/MAN

    G/MAN Road Train Member

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    You have several options available to you. If you are certain of your position, you might try getting a letter from the consignee that states that they received all products in good condition. You can then send a copy to TQL and demand payment. If that doesn't work, then you can file on their broker bond. That takes time. Another option is to file a claim in small claims court. If successful, you could receive your money, attorney's fees and court costs. There is also another option. You could turn the account over to a collection agency and let them worry about collecting the money. They usually work on a contingency, which means that they get paid from what they collect. There are collection agencies that specialize in working with carriers.
     
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