How easy is it for a Broker to steal your money?

Thought it stood for cash on delievery??? Also to the factoring comment factoring doesn't mean anything recourse or non recourse you'll still pay in the end for the factoring company to collect. And the factoring company screws you anyway I know thank god I'm not factoring my bills now even though I'm under contract they're only making $5/bill to load a fricken fuel card that's worthless to me now that I refuse to fuel at a pilot or flying j.

 

It is Cash On Delivery..

 

Really the only tool you have is due diligence. This can minimize your risk.

But as it's said there are only 2 sure things in life. Taxes and death.

 

If Subject 7 signed on BOL and if the broker folds that protects consignee from paying twice on that shipment...Puget Sound International went outta business last year and left carriers with almost 2 million dollars in unpaid freight bills...one of their customers was Jim Beam from KY and apparently many attorneys tried to have Jim Beam pay again to carriers and it all went to court and in the end carriers didn't get jack because of Subject 7 bills were always signed by consignee...luckily i was out only 7k but other carriers weren't so lucky i know a buddy of mine got screwed for 52k...lesson learned.

 

I have hauled stuff for several shippers...mostly local folks...COD.

Cash is still king -

 

Here is a link to a thread I started when I had an issue with a broker last summer:

http://www.thetruckersreport.com/tr...r/189123-warning-a2z-logistix-bad-broker.html

When a brokerage goes bad, it usually happens very quickly and that $10,000 bond is gone in a hurry.

 

Could you name some of them who you worked with, if they are good.

 

By the way even Bond does not mean anything if the broker has some kind of underworld connection. Allen Lund owes me over $3000 never paid. It has been over a year and they will tell you pretty much F OFF. We went to Bond , Court and BBB. Steve Asip left a message on my answering machine that no matter what they will win. I thought the courts are pretty fair in NJ, but when the court said since Allen Lund does not do business in NJ and hence we have no jurisdiction over them (even after providing tons of documentation which proved the load being posted into NJ and from NJ ) to the court the judge still said we are closing the case. So one more time, the truckers will never be safe unless they stick together with out any kind of racial discrimination. No rules or Bond is going to protect them.......