Rate Confirmation Question

You are correct. Also dont forget the yearly audits/trails and tons of paperwork and all the wonderfull things that come along with the authority.

 

40-60% APR to factor is a big price to pay if you do not have to. Plus non-recourse is not all it is cracked up to be. My attorney looked at one of these contracts and the loop holes are a plenty.

 

Nothing is more frustrating than to call on a payment and have them tell you the check number and that it is going out tomorrow. That tells me that the check is sitting in a drawer waiting for me to follow-up.

 

10%?!? Really? Maybe for a small, local outfit. Found a couple 15% companies if you have your own trailer but then the nickle and dime another 5-10% out of ya. 20-35% is the norm depending on what you pull.

 

Trust me I know I manage a transp. company and also work as a safety consultant. This is why It amazes me when ppl with 1 or 2 trucks want to go through all that trouble.

 

10% off the gross. But you pay for trl and cargo every mth as well. So if, lets say the trl is $700 for dry or a $1100 for ref and insurance is between $60 and $100 for the unit. And let's say cargo is between $655 and $1000 and than add those 10% off the gross you do the math.
Most companies I know work this way when on open dispatch.

 

When I first starting invoicing I had a little trouble because most software for invoicing is set up for selling of goods i.e. quantities and amounts.
There is a free website www.truckbytes.com and they have an invoice you fill in and it's designed for trucking. It has pick ups and deliveries, spots to add in lumper reimbursement and such. It's really simple, I like it.

 

if you're not even going to stop by and say hi then go away

 

Hell I hope you dont ever pay 40-60% for any sort of factoring lol

 

always printed my invoices from quicken...and when i get the bol signed i make them sign and print their name (had a guy sign elmer fudd once ! )