Starting my own brokerage

Discussion in 'Canadian Truckers Forum' started by ymftb, Apr 1, 2013.

  1. ymftb

    ymftb Bobtail Member

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    Apr 1, 2013
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    Hi, I'm new to the forums and in need of a little help. I'm in the process of starting my own brokerage in Toronto. So far I've registered a company, found a few owner-operators and purchased Loadlink. I was wondering what else I need to do before I can officially begin working? Also, any tips/advice would be appreciated. Thanks.
     
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  3. Prairie Boy

    Prairie Boy Road Train Member

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    Get your bond in place. Don't know I'm helping you...I hate brokers, they're like vultures. I wish the shipper or receiver would simply call the carrier themselves.
     
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  4. ymftb

    ymftb Bobtail Member

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    Gotta do what ya gotta do...do you know how much the bond is supposed to be? I'm seeing anywhere from $10,000 all the way up to $50,000 online.
     
  5. Prairie Boy

    Prairie Boy Road Train Member

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    Not sure....think it's only $10,000. though.
     
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  6. Prairie Boy

    Prairie Boy Road Train Member

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    Here's some links. [h=3]Surety Bond Company(905) 267-8587[/h]


    www.unitedsurety.ca/

    Experts In Commerical & Contract Bonding-Submit A Requisition Today!About Us - Services - Bond Requisition



    [h=2]Search Results[/h]


    1. [h=3]What is a Freight Broker?[/h]


      www.wisegeek.org/what-is-a-freight-broker.htmCachedShareShared on Google+. View the post.

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      Mar 21, 2013 - In many areas, freight brokers are required to carry surety bonds as well. Freight broker services are valuable to both shippers and motor ...




    2. [h=3]How Do I Get a Freight Broker License?[/h]


      www.wisegeek.com/how-do-i-get-a-freight-broker-license.htmCached - SimilarShareShared on Google+. View the post.

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      Mar 18, 2013 - In the US, you can get a freight broker license by enrolling in a training ... a freight broker license is required in the United States; requirements and ... step is obtaining a $10,000 US Dollars (USD) surety bond for his business.




    3. [h=3]What Is a Freight Broker Bond?[/h]


      www.wisegeek.com/what-is-a-freight-broker-bond.htmCached - SimilarShareShared on Google+. View the post.

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      A freight broker must carry such a bond to legally operate in the United States. A surety bond is used when somebody is required to give an extra level of ...




    4. [h=3]Federal law would target fraudulent transportation brokers - PSTC[/h]


      www.pstc.ca/.../federal-law-target-fraudulent-transportation-br...CachedShareShared on Google+. View the post.

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      [TABLE="class: ts"]
      [TR]
      [TD][/TD]
      [TD]Jul 26, 2011 - The driving force behind the act proposes the federal surety bond amount required of all freight brokers be increased from $10,000 to $100,000 ...
      [/TD]
      [/TR]
      [/TABLE]




    5. [h=3]Freight Agent Broker Jobs | Indeed.com[/h]


      www.indeed.com › Forums › JobCached - SimilarShareShared on Google+. View the post.

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      Find Freight Agent Broker salaries, interviews, reviews... posted by 5337 professionals and job seekers. ... Does a f-450 require commercial insurance? lesR ... brokers. First investigate the new 75,000 bond. .... Shawn in Peterborough, Ontario ...




    6. [h=3]Freight Broker License Requirements | eHow.com[/h]


      www.ehow.com › LegalCached - SimilarShareShared on Google+. View the post.

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      Freight Broker License Requirements. A freight broker puts a trucker and a load together and handles the paperwork. The freight broker never has physical ...




    7. [h=3]Definitions Ontario Load Brokers[/h]


      www.tfsgroup.com/platez/definitionsload.htmlCached - SimilarShareShared on Google+. View the post.

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      Will require all Ontario-based load brokers to register with the Ministry of Transportation, at which time a certificate will be issued. This certificate must be ...




    8. [h=3]How to Start a Freight Brokerage Business | Entrepreneur.com[/h]


      www.entrepreneur.com/article/37928CachedShareShared on Google+. View the post.

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      Feb 22, 2001 - Editor's note: This article was excerpted from our Freight Brokerage ... such issues as paying carriers and maintaining the required surety bond.




    9. [h=3]Business Insurance - Surety Bonds | Intact Insurance - ontario[/h]


      https://www.intactinsurance.com/surety-bonds-ontario.htmlCached - SimilarShareShared on Google+. View the post.

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      If you need to back your business services with surety bonds, you can trust the ... At some point or another, surety bonds may be required to raise the level of trust ... on school bus contracts, provide accessible transportation or transportation for social ... Your insurance broker can help you find the surety bond your business ...




    10. [h=3]Transportation Bonds - Bond Surety[/h]


      www.bondsurety.ca/transportationLogistics.htmlCached - SimilarShareShared on Google+. View the post.

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      Jump to PROPERTY BROKERS BOND‎: However companies wishing to sub-broker loads going ... There are other bonds that you may also be required to ...

     
  7. ymftb

    ymftb Bobtail Member

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    Apr 1, 2013
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    more than helpful, thank you very much!
     
  8. CbarM

    CbarM Heavy Load Member

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    Irvine, AB
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    Brokers are essential to shippers as it takes away all the hassle of the shipper having to line up a bunch of trucks. Without brokers it would be alot tougher for an O/O to run independant unless he was willing to buy a fleet in alot of cases. I dont mind the broker idea at all as I have good negotiating skills. If I dont get my rate then I simply dont haul...
     
  9. Down the road

    Down the road Light Load Member

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    Nov 19, 2012
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    Why on Gods green earth would any of you help someone find information on "how to set up a brokerage"?


    If they cannot figure it out for themselves because they have no experience or contacts then how do you expect them to run a company without cutting the hell out of the rates?

    Eventually "gotta do what ya gotta do" will use that philosophy when cutting the rates to pay his bills because he never should have been a broker in the first place.

    Rates in this industry go backwards because of all the inexperienced people involved trying to get a piece of what they think is easy money.
     
    imnuts Thanks this.
  10. imnuts

    imnuts Light Load Member

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    May 4, 2012
    Sask, Canada
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    Hmmmmmm......that sounds about right for a broker.
     
  11. itsneversafe

    itsneversafe Light Load Member

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    Victoria BC
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    Don't forget you need to sell your soul to satan and have heart removal surgery before your first year is up.
     
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