When Using A Broker

If you're consistent in providing that level of service why pay someone for it? You don't always go right into a customer and get the high rates,you have to convince them you're worth it.

 

Understood, no doubt there's money we're leaving on the table going through the broker. It's not perfect but a lot better than what I'd been led to believe by the "dry van is the pits/cheap" crowd around here.

 

How long does it take to get paid from a broker after the load has been successfully delivered?

 

It depends on the broker and your contract. I have had some who would write a check with I handed them the bills. You can expect most to take 30-45 days by the time you deliver the load, send the bills and receive the check. Some offer quick pay and you can receive your money within 24-48 hours once they receive the bills. You can also factor your receivables and have your money within 48 hours or less.

 

Well this is good to know that there is options if capital is needed sooner then expected ...I just need to figure out how to determine if they have a good credit report...and suggestions on how I should go about that? And if you would like to share a good broker I won't tell anyone hahah

 

There are several credit reporting companies that cater to the trucking industry. There is also the Gold Book. If you establish a relationship with a factor they should have the credit reporting tools you need to make a decision. Most of the time if a factor takes the paper the broker is good for the money. Some will take the business as long as there isn't any negative information on the broker. Some loadboards also offer credit services for an additional fee. I don't recall the type of freight or area that you are based or want to run, but as far as brokers are concerned, I would at least start with some of the larger brokers, such as CH Robinson, Landstar, Mercer, Schneider, etc., If you subscribe to a couple of loadboards, you can post your truck and should begin to get calls with loads.

 

First off thank you for this info,

I am from the Boston area, I am asking these questions because I am just getting into the industry, I am brandnew, I will have a truck with in 30 days and I have some great local contacts for local steady work however I want to make sure I something to fall back on if things get slow so any advice,input and general info is greatly appreciated ...


Jimmy

 

Forget how to spell ?

 

No words needed ... Good luck joining an industry you have no idea how to navigate (IMO)