With today’s tight profit margins, motor carriers can’t afford to deliver loads and then wait 30 or 60 days to get paid – or worse, not get paid at all. When you’re trying to collect on freight bills to maintain your revenue and a freight broker “disappears” or stops answering your calls, you can face a significant business loss.
Yet, when you’re trying to stay loaded and maximize your hours of service, sometimes you end up working with an unfamiliar freight broker just to keep your trucks on the road. While the vast majority of brokers are honest and dependable, not all can be trusted. Sadly the concern is not only with new, unfamiliar brokers. Brokerages change management and face financial struggles. Even those who have been reliable in the past can put you at risk of late payments and uncollectable debt.
How can you ensure that you only work with reliable freight brokers? Protection against business losses from non-payment usually comes down to consistent and comprehensive credit checks before you take on a load with both new and existing customers. You need to know how quickly a freight broker pays after delivery – and you need to see that payment history fast to help you make a decision.
Savvy motor carriers have not one, but two levels of protection against slow payment or non-payment on freight bills.
- com: Motor carriers who sign up with the world’s largest completely free load board can not only find loads, but they can also instantly access payment histories on more than 10,000 freight brokers. The FreeFreightSearch.com credit check resource lets motor carriers review credit reports on an unlimited number of brokers, any time day or night.
- Interstate Capital: Motor carriers who factor their freight bills with Interstate Capital, one of North America’s top factoring companies, enjoy fuel advances when loading and fast payment upon delivery. However, they also benefit from Interstate Capital’s outstanding in-house credit bureau, staffed by experts with years of experience working with trucking professionals. At Interstate Capital questionable freight brokers are red-flagged right away, before it’s too late.
At FreeFreightSearch.com, you can find loads, conduct credit reviews on thousands of active freight brokers, and receive quick pay from Interstate Capital’s Platinum Guarantee freight brokers, all without ever leaving the site. Sign up now to join FreeFreightSearch.com and give your trucking company the edge you need to protect against business losses.
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