When I broker loads I have my factoring companies Platinum freight brokers guarantee that the carrier will be paid in 26 days. The pay is out of my hands and I am on the hook for re-payment to the factoring company in the event that the shipper goes out of business or fails to pay. My truckload carriers will always be paid no matter what happens. It's something that I had to do as a new broker to be able to get carriers to haul loads for me. The only other way is to have 100k in the bank and offer quick-pay and fuel advance options with your own money and that is something I do not have the ability to do at this point in time. Everyone starts somewhere!
LRT Expedite closes it's doors.
- Thread starter Dreamer
- Start date
When I broker loads I have my factoring companies Platinum freight brokers guarantee that the carrier will be paid in 26 days. The pay is out of my hands and I am on the hook for re-payment to the factoring company in the event that the shipper goes out of business or fails to pay. My truckload carriers will always be paid no matter what happens. It's something that I had to do as a new broker to be able to get carriers to haul loads for me. The only other way is to have 100k in the bank and offer quick-pay and fuel advance options with your own money and that is something I do not have the ability to do at this point in time. Everyone starts somewhere!
In a way I hate to drag this up but it might be something for you to consider, so I will. Could it be that some of these brokers don't want to put freight on a truck running through multiple carriers? I understand that some of them may pass over you for another multiple carrier "carrier", but is that always the case?
When I hear carriers like LoadOne and C&M say they dont trust the way the freight is moved on these trucks, I have to believe there is a real problem. Not saying its a problem at OnCall, but if it is a problem within that segment, you have the same problem by association.
They might say that they don't put freight on trucks that work for carriers that allow their trucks to work for multiple carriers but they do. I know this because I have drivers who work for other carriers that have gotten loads from some of the companies that say they do not trust this type of operation! I am not going to point fingers at who in here because I don't want to ruffle any feathers but I have seen it happen! How many of the real 1 carrier companies are there on the Sylectus board any how?
Panther, Tristate, Fedex, and a few other of the bigger companies do not even post their loads or trucks on there. The majority of smaller carriers on the Sylectus system run cargo vans that are also leased on with other carrier. The only time that rule does not apply is for straight trucks. If I get a straight truck signed on - I will have to add it to my primary insurance and list it on my insurance certificate. No problem - the truck will run exclusively for me - but it is much easier to keep that type of unit rolling than it is to move a cargo van!
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14Wheeler
Seasoned Expediter
You don't even need to out'em in a public forum. Most all those "questionable" types arn't hiding as easily as they used to. Lotsa shippers are 100% against anything being hauled around with multi-personalities
turritrans
Expert Expediter
We have been burned so many times by carriers that use shared trucks, I'm sure many others have too hence the reluctance for some companies to use carriers that utilize this business model. That being said not all carriers provide a bad service that do this. Just makes a little extra work on your end to insure the truck is there when you quote a job.
I do believe we have worked with your organization. Glad to see your doing well!
I think I'd be more liking the multi carrier platform if Sylectus were to twink the software to identify same trucks....this would effectively lower capacity and give a more real time look at the numbers of trucks out there...which would benefit everyone....example.....when it looks like there is say 100 vans in Laredo..the boards look like 400 vans...
Thank goodness....the numbers of unmarked vans in Laredo for example is getting just silly....and we know how the prices have dived since the invention of this type of platform...it is a shippers market for sure...
John...has Sylectus agreed to this change because of fellow owners like yourself have lobbied for this action?
guido4475
Not a Member
Maybe the multi-carrier platform would not be needed if the bottom-feeder carriers bid sensibly on the load at a fair rate, and if the driver would just say no to the rate in the toilet load begin with.I mean the real stupid, real low rate loads.I realize we need to bend in order to get out of a bad area, and in order to get into a better one, but I often hear of .50 cpm to the truck rates.That is just plain stupid, and anyone taking a load that low needs to get out of the business.He is doing more harm than good.
A number of owners including myself pushed for this change. Hopefully better for everyone involved.
Any LRT truck owners needing assistance with leasing onto another carrier with little down time, please contact Premium Transportation Logistics. It is possible to get on yet this week and have a settlement on July 20th. Call 1-800-661-3166 Ext 112.
Opportunity knocks?....LOL.....
I see this as a positive for ALL even the multi-carriers... assumed over capacity just drives the prices down....a couple cents improvement can be a big deal maker down at our level...
As we watch these multi carriers close their doors, new ones are appearing just as fast. Supply and demand will remain unchanged. Relatively cheap and easy to get into business this way, and cheap and easy to get out of business this way.
I would be a liar if I said yes I pull a paycheck every month. I pay all the expenses first, and keep at least enough for fuel for one week because thats my companies money not mine and whats left over is mine. Yes there has been a time or two I have broken that rule like buying fuel oil or some type of emergency. JJoerger has it right when he said the companies that fail are the ones who pay themselves first.
He forgot to mention that theyre usualy the first to lawyer up and stick it to everyone else.
I hope it all works out for you guys.
If you have your own authority and coppies of your old bill of ladings I would try prospecting the places you have picked up and delivered too for business. Just make sure the non compete time has run out. Also find out from your attorney if the solicitation clause applies if you dont get paid for jobs and back sell the shippers and provide future service to them dirrectly. It may take a few jobs to make up for thier portion of unpaids but they will be your customer.
If you dont get paid for recent jobs, and the non compete solicitation clause is bullet proof, I would give the names of the shippers and recievers to a transport attorney so they can go after them and get you paid. Being short a lawyers commision is better than pocketing nothing at all.
Bob Wolf.
Wolf Trucking.
He forgot to mention that theyre usualy the first to lawyer up and stick it to everyone else.
I hope it all works out for you guys.
If you have your own authority and coppies of your old bill of ladings I would try prospecting the places you have picked up and delivered too for business. Just make sure the non compete time has run out. Also find out from your attorney if the solicitation clause applies if you dont get paid for jobs and back sell the shippers and provide future service to them dirrectly. It may take a few jobs to make up for thier portion of unpaids but they will be your customer.
If you dont get paid for recent jobs, and the non compete solicitation clause is bullet proof, I would give the names of the shippers and recievers to a transport attorney so they can go after them and get you paid. Being short a lawyers commision is better than pocketing nothing at all.
Bob Wolf.
Wolf Trucking.
So, if a van is leased to 3 companies, which one of the 3 will it show under? And how about if a company chooses to enter a fake vin number?
I would assume the first company to post the van....any further attempts it would be blocked....
as far as the fake number...well...that is whole different issue.....Myself i'd like to see that carrier removed from said board IF caught.....
I think to some degree the owner operator that is leased to multiple carriers has contributed to this or vise versa.
considering most multi carriers don't have customers of their own..and rely on the overflow from bigger carriers..when things slow down they have to compete against the bigger carriers directly on the load boards....bigger carriers can usually weather the storm based on volume alone, if they have if they have to bid lower, better then a one man band can.....