New Broker no quick pay over $2k load, do you do it?

Discussion in 'Ask An Owner Operator' started by crocky, Dec 4, 2019 at 6:38 PM.

  1. crocky

    crocky Heavy Load Member

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    I been having a heck of a time getting load today, several fell though because brokers are brokers or a few were filled as I called ect..ect.. But there was a load I saw listed half the day, pays well it's actually above the 90 day average by several hundred dollars. (of course I knew there was something up being it was on the board several hours, it should have flown away fairly fast)

    I didn't call it earlier because it wasn't listed for my trailer type but I had a hunch it would fit me but I was working on other loads that of course fell through.. So this load was still there, I called about it and they were ok with my equipment (hotshot truck) so my focus was on if they'd let me do the load, not if the company was on up and up. I totally spaced out about checking reviews, ect..ect.. just focused on getting a load...

    Anyway, I can do the load but it's a new broker, in fact they got their authority 1 day before I got mine.. (Yeah I'm a new carrier). Now I'm not so much concerned with them being a new broker, because after all I'm new and people have to give me a chance when they book me. However the kicker is they don't have quick pay, nor can they be factored. Meaning it's a 30 day pay on over $2k with a new broker.. No reviews, which heck I've ran loads and I have no reviews as well.. Seems people only give reviews when you are bad right? lol

    Do you do it, would you take the load?
     
    Last edited: Dec 4, 2019 at 6:47 PM
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  2. LondRanger

    LondRanger Heavy Load Member

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    Think of it this way, would you be out of business if you lose the 2k? How much would it set you back. Answering these questions will help you determine if you should take the risk.
     
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  3. crocky

    crocky Heavy Load Member

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    Well I already know that answer.. no I wouldn't go out of business, but of course who knows on any load if you will blow up your motor or total your truck or this or that.. I'd be out about $500/fuel and probably 1 night in a hotel after the drop unless I got a load out quickly. Being hotshot I don't think I'd sleep in my truck in that area due to it being very cold. So I'd be out $600 most likely and maybe 3 days revenue from other loads.

    It's simply I'm a new carrier and haven't had too much bad experience with brokers but don't want to fall for some dirty tricks.. Not saying that's what this is by any means but 30 days then check is in the mail???? This is what I worry about.
     
  4. spyder7723

    spyder7723 Road Train Member

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    The fact that they can't be factored tells you everything you need to know. If the factoring company isn't willing to take a risk why would you?
     
  5. crocky

    crocky Heavy Load Member

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    Well that's what I'm curious about and why I'm asking here. I'm still new as well, but can a new broker get access to quick pay ect? How long does it take for a factoring company to work with a new broker? Is it a time thing or credit? or money in the bank before XYZ factoring company will factor a new broker company?

    Example on the carrier side many brokers wont work with you unless you are 90 days or even 6 months.. It's not because you are a bad carrier but they don't want to take the risk.

    Is it the same way with factoring companies? How long before they will factor for a new broker?
     
  6. HillbillyDeluxeTruck

    HillbillyDeluxeTruck Road Train Member

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    While you're asking the right questions, I'd probably take it and stay on them to pay within the 30 days.

    Spot market freight is just not good right now. If its a decent payingload, gets you out of where you're at (remember you can dh out too) then do it.

    And welcome to running a pickup otr. Especially if you're going into a cold climate, but you can idle the engine and run the heat. Staying in motels is a good way to go broke.
     
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  7. Dino soar

    Dino soar Road Train Member

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    I know you did not realize and already negotiated, but with that kind of thing it would be better to really get as much as possible so you have a better risk vs reward ratio.

    I don't know how long ago you got your Authority but if their Authority is almost brand new, hold them right to the fire for the days that they're supposed to pay you and file on their bond immediately if they don't.

    If you're at the front of the line you have a better chance of getting paid.

    And who knows they may just pay you.
     
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  8. crocky

    crocky Heavy Load Member

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    Na I haven't signed the ratecon, I talked to them right at the closing bell, so to speak, so I told them I'd have to get them my ins cert in the AM. just sent them a generic one to prove ins. Once I noticed it was a new company with no quick pay I wanted to think about it so I drug my feet a bit.
     
  9. spyder7723

    spyder7723 Road Train Member

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    It's all about credit rating. Obviously length in business factors into credit rating. As for quick pay, a broker can offer quick pay on day one if they wanted and had the resources. There is no time limit on it. Quick pay isn't regulated, it's just a brokerage paying you before he gets paid.
     
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  10. crocky

    crocky Heavy Load Member

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    Yeah I don't do hotels much, but it all depends on what the loads look like on my drop day and what my hours are. But it's a Wisconsin so a bit chilly up there if I'm setting till the next day I'd hit a hotel probably. I'm not fond on idling my truck that much.
     
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