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No Buy?

Discussion in 'Freight Broker Forum' started by DSK333, Aug 22, 2018.

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  1. Aug 22, 2018 #1
    DSK333

    DSK333 Road Train Member

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    What does "No Buy" mean on a broker's credit?
    Screen Shot 2018-08-22 at 1.39.37 PM.png
     
    DSK333, Aug 22, 2018
    DSK333, Aug 22, 2018
    #1
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  3. Aug 22, 2018 #2
    NHS

    NHS Light Load Member

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    Not sure what report you are looking at, but guessing it means their invoices can not be factored or "bought" from the carrier. I believe some factoring companies have different tiers for fees that the carrier is charged based on the days to pay on the factored invoice. Meaning the higher the days to pay, the higher the fee.
     
    NHS, Aug 22, 2018
    NHS, Aug 22, 2018
    #2
    DSK333 and whoopNride Thank this.
  4. Aug 22, 2018 #3
    whoopNride

    whoopNride Road Train Member

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    The factoring company will not buy that companies invoices. I don't factor, but I use that site to do credit checks. If they have No Buy on there, I definitely won't extend credit to the broker.
     
    whoopNride, Aug 22, 2018
    whoopNride, Aug 22, 2018
    #3
    HopeOverMope, Justrucking2 and DSK333 Thank this.
  5. Aug 22, 2018 #4
    DSK333

    DSK333 Road Train Member

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    Thanks. Interestingly, Truckstop is giving them an "A" rating. They also don't have any sort of broker contract either and that raises my apprehension level.
     
    DSK333, Aug 22, 2018
    DSK333, Aug 22, 2018
    #4
  7. Aug 22, 2018 #5
    PPDCT

    PPDCT Road Train Member

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    Wouldn't trust it. Contracts protect you, too, by spelling out what the broker is obligated to do. No contract is just bad business.
     
    PPDCT, Aug 22, 2018
    PPDCT, Aug 22, 2018
    #5
    DSK333 Thanks this.
  8. Aug 22, 2018 #6
    DSK333

    DSK333 Road Train Member

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    I agree. I'll be adding Reynolds to the same list as King of Freight
     
    DSK333, Aug 22, 2018
    DSK333, Aug 22, 2018
    #6
  9. Sep 8, 2018 #7
    Oscar the KW

    Oscar the KW Going Tarpless

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    What site is this?
     
    Oscar the KW, Sep 8, 2018
    Oscar the KW, Sep 8, 2018
    #7
  10. Sep 8, 2018 #8
    DSK333

    DSK333 Road Train Member

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    DSK333, Sep 8, 2018
    DSK333, Sep 8, 2018
    #8
    Oscar the KW Thanks this.
  11. Sep 8, 2018 #9
    HopeOverMope

    HopeOverMope Road Train Member

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    I-20 LOUISIANA
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    What happened with KOF?
     
    HopeOverMope, Sep 8, 2018
    HopeOverMope, Sep 8, 2018
    #9
  12. Sep 8, 2018 #10
    DSK333

    DSK333 Road Train Member

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    KOF has no official Carrier-Broker agreement (like Reynolds) and no direct deposit. Both are deal breakers for me.
     
    DSK333, Sep 8, 2018
    DSK333, Sep 8, 2018
    #10
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