Establishing Credit as a new brokerage?

Sign up with DAT and ask them about this. They will ask you some questions and ultimately if everything checks out they will give you a 100 credit score and days to pay that you claim.

They understand it’s detrimental to your business to have no rating. With time the factoring companies who can be a real PITA will start reporting. They will send the paperwork a week or more after delivery but expect to be in que for payment based on the delivery date. It’s ridiculous really. So at that point you’ll be paying out at 15 to 21 days to get a 30 day report even though you can’t bill the customer until you get the paperwork. It’s a real you know what. You’ll end up appreciating the carriers who don’t factor, but find that 50%+ at the least do.

Definitely be prepared to get some skeptical carriers though. At that point send wires and ease their worries. Just make sure and have the shipper go out and check the door and mc that it’s not double brokered.

Good luck I just saved you thousands in in future headaches. lol

Oh and edit: Your surety bond date of service to savvy carriers means more then the mc number. A surety maintained for several years means no claims.

 

midwest trucker ............have you figured out the way out of it?
we are new broker with truck stop, as soon you pay your first carrier in few days, your number of days you pay carrier goes down and that get lots of trucker's attention.
please share your experience,

 

Figured way out of what exactly?

Get on DAT and fill out their credit form. You likely can start out at 100 which helps. Seems to me like only factoring companies report on days to pay or credit for the most part.

Not saying favor the factoring companies but definitely don’t mess with them either as they are more likely to report.

 

As i mentioned in my earlier post, i am with truck stop where when i post loads and when carrier click on it they see how many days it took broker to pay carrier, currently ours is about 10..... meaning carrier get their payment from us in 10 days. i am not on DAT.

 

If you're a broker, you should be.

 

i hear you but i looked at DAT but decided to stay with TS, i only do heavy haul...