Nov 07, 2017 • Brokers

Broker Carrier Agreement

Broker Carrier Agreement

A broker carrier agreement is required in order to have a freight contract that will ensure a motor carrier hauls truck freight for the freight broker.

Broker Carrier Agreement

A freight broker may negotiate a rate with a carrier before agreeing to freight contract terms and signing a Broker Carrier Agreement. Let’s say a freight broker posts a load on a load board that needs to be picked up from Dallas and delivered to Kansas City.

The freight broker may offer to pay the carrier $1,000 but the carrier wants to negotiate a higher rate. Eventually, the two parties agree that $1,300 is a fair rate and they wish to proceed. This is where a Broker Carrier Agreement comes in.

A Broker Carrier Agreement will include things like:

The Broker and Carrier’s Information (including MC#)
Agreement Date
Days to Pay
Procedures for Invoicing
Liability and Insurance

Broker Carrier Agreement Example

Carriers want to know when they will be paid, what sort of liability they might be required to have any other stipulations of the truck load before considering to haul it. Without the broker carrier agreement, truck freight cannot be booked and subsequently hauled.

Find Freight Carriers on Truckloads Load Board

Brokers can’t come to an agreement without having an interested carrier in the mix. So how do freight brokers find carriers? This is where tools such as load boards come in to play.

Truckloads free broker load board is one of those with unmatched technology. It provides you with access to over 100,000 verified freight carriers who are qualified to haul your freight. It’s easy to post truck loads via CSV or TMS and you can keep tabs to see which freight carriers have viewed your load and how many times.

Truckloads also has unique features such as Truck Search which allows you to search for available trucks in a specific location. View a carrier’s Safer Watch Rating to confirm if they are qualified and if you’re interested, contact the freight carrier directly. Now you can move more truck freight than ever before!

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TagsFreight Broker

Industry Update - January 24, 2020 <h4>By Paul DeCoste</h4> <h3></h3> <h3></h3> <h3><strong>Industry Update</strong></h3> Curious about the top issues discussed in the trucking industry in 2019? Take a look at this graphic from the ATRI Top Industry Issues 2019 survey. <h3> <a href="https://truckerpath.com/uploads/2020/01/image002-1.png"><img class="size-medium wp-image-4869 aligncenter" src="https://truckerpath.com/uploads/2020/01/image002-1-300x244.png" alt="" width="300" height="244" /></a></h3> <h3><strong>Weather Update</strong></h3> <a href="https://www.freightwaves.com/news/snowstorm-lingers-into-weekend-for-midwest-northeast-with-forecast-video">This snowstorm</a> has been building up over the past few days and drivers need to be aware of some potential snowfall in the Midwest. The following locations should be driven on with caution for the weekend; Milwaukee and Green Bay, Wisconsin, Michigan’s upper peninsula, Chicago and South Bend, Indiana. <h3></h3> <h3><strong>Pilot Name Change</strong></h3> <a href="https://cdllife.com/2020/truck-stop-giant-announces-big-name-change/">Just yesterday, Pilot Flying J announced that</a> they are changing their company name to “Pilot Company”. This new corporate name is meant to, “serve as an umbrella that captures the total portfolio of the business as it continues to expand its retail and energy operations.” <h3></h3> <h3><strong>Driver Saves Lives</strong></h3> <a href="https://www.truckersnews.com/driver-fights-fire-at-accident-scene-honored-for-his-efforts/">Linden O’Donnell went out of his way to put out a car fire</a> and help several motorists. He was driving on the right side of Interstate 280 when he witnessed a car smash into the back of a stalled SUV. Thankfully the SUV was empty, but the passengers of the car were barely conscious and in need of help. As fire crept from the engine to the cab, Linden ran to grab his fire extinguisher and put out the flames. This allowed Linden to safely assist the drivers out of the car and out of harm’s way. His courage and ability to react deserves the honor he is receiving. <h3></h3> <h3>New Tech</h3> <a href="https://www.ttnews.com/articles/companies-explore-using-old-electric-car-batteries-cut-costs">This pilot study done by American Electric Power and Nissan Motor Co</a>., is testing the reuse of old batteries to reduce costs for electric cars. This new process has the potential to lower system costs by one-half and even extend the power of lithium batteries by one-third.

Jan 24, 2020 • Carriers

Industry Update - April 5, 2019 <h5>By Jeremy Feucht</h5> <h3><strong><u>Did you Know?</u></strong></h3> On April 3, 1974, the worst series of tornadoes ever recorded hit the US and southern Canada. With over 50,000 people affected in total and six states declaring a State of Emergency, many big rigs were sent in to do the cleanup. Xenia, Ohio was the first hit and it would need three months and over 200 trucks to finally cleanup the disaster. <h3><strong><u>Trucking tip of the Week</u></strong></h3> Its that time of the year again. Spring is here which means warmer weather and concern about your tires needs to be at the front of your mind. As the weather warms, the amount of air pressure in your tires and the tread remaining on them will really start to show. Lower air pressure means more friction on your tires. More friction that your tires create, the more stress that is placed on them. Be careful out there. <h3><strong><u>Toll Road Fight</u></strong></h3> OOIDA and the National Motorist Association, for now, have lost its bid against the state of Pennsylvania <a href="https://www.post-gazette.com/news/crime-courts/2019/04/04/Pennsylvania-Turnpike-federal-lawsuit-dismissed-tolls-truckers-organization-Port-Authority/stories/201904040090">to remove the tolls</a> on the Pennsylvania Turnpike. On April 4, 2019, US District Judge Yvette Kane approved a motion by lawyers for the turnpike and the state of Pennsylvania to dismiss the charges that claimed over $6 billion in tolls had been collected illegally since 2007. <h3><strong><u>Truckers to the Rescue</u></strong></h3> As I have long stated, this country would fold without the work of truckers. Here is some more proof of that. With the flooding and devastation that has occurred across the Midwest, farmers and ranchers are having a difficult time keeping their heads above water, let alone that of their cattle. Knowing their plight, <a href="https://www.freightwaves.com/news/trucking/truckers-step-up-to-help-farmers">truckers have come to their rescue</a> with hay to help get them through. Where would we be without the American trucker? <h3><strong><u>Regulations</u></strong></h3> With so many regulations, and general vagueness that the personal conveyance rule is written, it is no wonder FMCSA’s <a href="https://www.ttnews.com/articles/fmcsa-drivers-dont-overthink-personal-conveyance-time">Joe DeLorenzo had to field so many questions at MATS</a> surrounding the issue. His message was simple: “Don’t over think it.” He basically stated that if what you are doing is for personal reasons, looking for food, parking, etc. then it is personal. If it is not personal, then it falls under hours of service. It does not matter if you are hooked to your trailer or not.

Apr 05, 2019 • Carriers

Freight Broker Software [h2] Freight Broker Software [/h2] [p] Like any industry, the use of technology in freight has rapidly advanced and new freight broker software promotes efficiencies and allows brokers the ability to connect its customers to move more freight and increase potential earnings. [/p] [h2] Carrier Essentials [/h2] [p]When you are searching for the right freight broker software for your business there are a few key features you need when it comes to managing the trucks you work with. The essentials on the carrier side should include:[/p] [p]<strong>Carrier Lists:</strong> to keep a record of all of the carriers you have a contracted relationship with. Keeping a list of carriers to go to for certain lanes or projects makes your job of covering freight much easier.[/p] [p]<strong>Carrier Information:</strong> it's beneficial to have all the carriers you work with documented. This means having the motor carrier number (MC#) or Department of Transportation number (DOT#) linked to updated insurance, a record of loads ran as well as any additional terms and conditions. [/p] [h2]Client Essentials[/h2] [p]<strong>Client Addresses:</strong> the most important thing to consider for choosing software in regards to your clients is to track the pickup and delivery locations (sheds). Having all the sheds tracked in your system will allow you to easily create loads for the lanes you are working on. Knowing if those facilities are appointment based on first come first serve (FCFS) is also beneficial. [/p] [p]<strong>Load History:</strong> having a record of the loads you ran will help tremendously not only when it comes time to send invoices but also when you are comparing rates or running a lane frequently. With a record of the common lanes, you have run for a customer you have a blueprint for future loads and can easily compare rates. [/p] [giphy]<iframe src="https://giphy.com/embed/3oriO7A7bt1wsEP4cw" width="480" height="336" frameBorder="0" class="giphy-embed" allowFullScreen></iframe>[/giphy] [h2] Load Management Essentials [/h2] [p] <strong>Load Building:</strong> this is the most important aspect of your potential software choices. To build a load you need to have sheds for pickup and delivery, carrier on the load, and location tracking. [/p] [p]<strong>Location Tracking:</strong> Thus software helps keep your customers happy. Knowing when a load has been booked, dispatched, picked up, and delivered are four things you will want to relay to your client. In addition having a function allowing you to track the location of the load either with automatic GPS or manually logged updates will help you stay ahead of potential issues and set you apart from a Fed Ex or UPS where you have no idea where things are while on the road.[/p] [p]<strong>Carrier on Load:</strong> having a list of qualified carriers is great and all, but what good is it if you cannot add them to loads. This makes tracking loads much more efficient and avoids confusion when you have several loads over the road. [/p] [p]<strong>Pay and Bill Rate:</strong> tracking the amount you will be billing your client and paying the carrier makes for easy calculation of margins and load budgets. This will make accounting much easier to manage.[/p] [p]<strong>Rate Confirmations:</strong> knowing what you are charging your client and paying your carrier is great, but being able to generate the confirmation binding them both is even better. If your freight broker software can generate these documents for you, it will save you loads of time. You can get the truck on the road right away instead of having to write out an email with pickup and delivery cities, load specifics, FCFS or Appointment times, and rate.[/p] [h2]Additional Software Tools[/h2] [p]<strong>Accounts Payable/Receivable:</strong> while having a feature like this included in your freight broker software is helpful, it is not essential. When it comes down to it billing your customer and paying carriers comes down to keeping an accurate spreadsheet which will already be installed on your computer. [/p] [p]<strong>Bill of Lading Generation:</strong> this is another feature you may or may not need. Most of the time the shipper will have the bill of ladings created for the driver but in the off chance, they ask you to make one a word processor is all you need. Blank BOLs can be downloaded off of a simple google search or made using tables in a word processor: it needs a pickup number (if applicable),pickup address, delivery address, and special instructions. If a freight broker software suite is going to charge you extra to do that, pass on it.[/p] [p]<strong>Carrier Search/Load Post:</strong> you may see different broker software programs with a feature to help you find a carrier for your loads. However, all they are doing is pulling data from load boards. Why pay extra when you can use load boards like <em>Truckloads</em> to post your load and find carriers yourself?[/p] [p]Selecting your broker software comes down to what you feel you really need for your freight business. When it comes down to it you might not need much to get started, but choosing the right freight broker software can help can you maximize efficiency and increase potential profits.[/p] [video id=snyBYpnuhWw] [button-green href="https://ship.truckerpath.com/signup?utm_source=blog&utm_medium=software&utm_campaign=Aug8"]Try Truckloads for Free[/button-green]

Aug 09, 2017 • Brokers