There should be a law... rates on load boards

Thank-you rollin Coal..... You post a-lot of no nonsense stuff on here about Business; I wish more had your attitude!. Still constantly hearing how we need more regulation for this and that. Coming from the same one's who probably voted for Obummer! It's always the Broker's fault for someones bad business decisions. Also; I believe it was you who posted something about drivers getting their own direct freight; they really don't know how quite difficult it really is to do that.

Someone; also posted soemthing on Gov. freight. Let me tell you guys that Gov. freight used to be pretty good. However, since Menlo got their hands into it, it has went down hill somewhat fast. The main post I do agree with, that Brokers should post specifics on their loads on the board....

 

i agree 100%

 

Danny if you ask your broker what they are making they are required to tell you.
I will be happy to tell any of my drivers what I made off the load all they have to do is ask.

 

I have never seen, heard, or read anything that says a broker is required to disclose the rate charged the customer versus what they are paying. If you are inferring this is a law, please post said regulation.

 

49 CFR 371.3 Records to be kept by brokers
A broker shall keep a record of each transaction. For purposes of this section, brokers may keep master lists of consignors and the address and registration number of the carrier, rather than repeating this information for each transaction. The record shall show: (1) The name and address of the consignor; (2) The name, address, and registration number of the originating motor carrier; (3) The bill of lading or freight bill number; (4) The amount of compensation received by the broker for the brokerage service performed and the name of the payer; (5) A description of any non-brokerage service performed in connection with each shipment or other activity, the amount of compensation received for the service, and the name of the payer; and (6) The amount of any freight charges collected by the broker and the date of payment to the carrier. (b) Brokers shall keep the records required by this section for a period of three years. (c) Each party to a brokered transaction has the right to review the record of the transaction required to be kept by these rules.
Editor's note: Boldface emphasis has been added.

http://www.landlinemag.com/Magazine/2005/MarApr/Features/brokers-fair-share.aspx

 

I learned something new today. I don't agree with the law, but it sure is interesting. Thanks for the post.

 

Like Rollin-coal said,brokers are against the same market pressure carriers are. In reality there really is NO such thing as a set rate. It is all up for negotiation. Some loads can be negotiated up to a much higher amount than the original offer and with some loads it is slim to none. It all depends on what area you are in and how many trucks are competing for which lanes.Even if there is a rate already posted you can still call and ask for a lot more if the load has been posted for too long and no other carrier has covered the load. For the most part a lot of brokers don't make more than 10-15% off of a load and some even lose money on the load just to get it covered. There will always be a mix of high-dollar freight and cheap freight. You can either take the cheap one to a busy area and average it out with a high-dollar one on the other end or you can just skip the cheap load and increase your deadhead. It all comes out to the same in the end.