Admin
07-05-2005, 11:16 AM
Helpful tools to assist you in your day-to-day business dealings with Brokers!
It is important to always remember that there are valuable resources available to assist you in choosing legitimate brokers to do business with. For instance you can check the status of a broker’s authority on the FMCSA website http://www.fmcsa.dot.gov . If you do not have access to a computer you can call them at any of these numbers: 202-385-2412; 202-385-2409; or 202-385-2410.
Additional information that can be obtained at this site is Bond and Trust information. Go to the insurance screen…here you can obtain the bond company’s name and telephone number. Check the status of the bond before taking the load. If the broker authority is not active DO NOT TAKE THE LOAD.
There are also credit reporting services and tools available, such as RTS Credit Services, http://www.RTSCredit.com or 800-506-7438. At this time RTS offers OOIDA members a 30-day free trial period.
OOIDA also has available our very own Check’s in the Mail article, which is only available to OOIDA members through our members only site at www.ooida.com. Here you can get a listing of brokers, carriers, freight forwarders and shippers complete with payment history.
Key things to remember and check before accepting a load through a broker:
*Ask for at least three (3) references. These should be carriers that have hauled for this broker consistently for one year. Check them.
*Do not move until you have a signed rate confirmation. Make sure the confirmation is complete with any additional charges you may incur, such as lumper fees, detention time, etc. Once you sign and return the confirmation, it acts as your contract for that load.
*Use caution when asked to sign a Broker/Carrier Agreement. Avoid it if possible. If you decide to sign it, read it carefully. Make sure your position is stated. You as the carrier, want no relationship between yourself and the broker. Under no circumstance is the broker acting as your agent nor are you acting as the broker’s agent. If the broker/carrier agreement does not say this, WRITE IT IN, INITIAL AND DATE THE CHANGE.
*Make sure all information is correct on the paperwork you receive pertaining to the load. You need the correct broker name, correct bond information and so on.
*Never wait for payment past your agreed upon payment date. Chances are if they are not paying you on time, they are not paying any drivers on time. The bond is only $10,000; it does not take long to exhaust it.
*Anytime there is a change while you are in route that concerns your pay, get an amended confirmation before proceeding, (i.e. layover, extra stops, etc.)
*When hauling government loads, make sure you call ahead for delivery time verification.
*Remember—you need everything in writing and keep copies of all paperwork.
It is important to always remember that there are valuable resources available to assist you in choosing legitimate brokers to do business with. For instance you can check the status of a broker’s authority on the FMCSA website http://www.fmcsa.dot.gov . If you do not have access to a computer you can call them at any of these numbers: 202-385-2412; 202-385-2409; or 202-385-2410.
Additional information that can be obtained at this site is Bond and Trust information. Go to the insurance screen…here you can obtain the bond company’s name and telephone number. Check the status of the bond before taking the load. If the broker authority is not active DO NOT TAKE THE LOAD.
There are also credit reporting services and tools available, such as RTS Credit Services, http://www.RTSCredit.com or 800-506-7438. At this time RTS offers OOIDA members a 30-day free trial period.
OOIDA also has available our very own Check’s in the Mail article, which is only available to OOIDA members through our members only site at www.ooida.com. Here you can get a listing of brokers, carriers, freight forwarders and shippers complete with payment history.
Key things to remember and check before accepting a load through a broker:
*Ask for at least three (3) references. These should be carriers that have hauled for this broker consistently for one year. Check them.
*Do not move until you have a signed rate confirmation. Make sure the confirmation is complete with any additional charges you may incur, such as lumper fees, detention time, etc. Once you sign and return the confirmation, it acts as your contract for that load.
*Use caution when asked to sign a Broker/Carrier Agreement. Avoid it if possible. If you decide to sign it, read it carefully. Make sure your position is stated. You as the carrier, want no relationship between yourself and the broker. Under no circumstance is the broker acting as your agent nor are you acting as the broker’s agent. If the broker/carrier agreement does not say this, WRITE IT IN, INITIAL AND DATE THE CHANGE.
*Make sure all information is correct on the paperwork you receive pertaining to the load. You need the correct broker name, correct bond information and so on.
*Never wait for payment past your agreed upon payment date. Chances are if they are not paying you on time, they are not paying any drivers on time. The bond is only $10,000; it does not take long to exhaust it.
*Anytime there is a change while you are in route that concerns your pay, get an amended confirmation before proceeding, (i.e. layover, extra stops, etc.)
*When hauling government loads, make sure you call ahead for delivery time verification.
*Remember—you need everything in writing and keep copies of all paperwork.