Oct 10, 2017 • Carriers

Freight Factoring Process

Freight Factoring Process

Here’s a step-by-step guide to better understand the freight factoring process and how it can be beneficial for your trucking company.

Freight Factoring Process

The freight factoring process might sound complicated and even overwhelming but it doesn’t have to be. It can be better understood by following our easy to follow guide, along with choosing a freight factoring company like InstaPay. that makes the process of getting paid easier than ever!

What is Freight Factoring?

Freight factoring is the process of selling accounts receivable (freight invoices) for a discounted price so owner operators don’t have to wait over a month to get paid. It’s a finance solution that allows your trucking company access to immediate funds without having to deal with banks, collateral or interest charges. It’s the best way to streamline your cash flow.

When you choose to factor your freight invoices, your credit score does not matter, nor does the size of your business. Freight factoring is based on your client and non-recourse freight factoring with InstaPay means you don’t have to worry about collecting from your clients either. To put it simply – send your docs and get paid immediately!

Overhead costs can pile up and put your trucking company at risk. Diesel fuel prices aren’t going down significantly anytime soon and if you have used trucks in your fleet, repairs can cut into any potential profit as well with costs upwards of $.15 cents per mile according to the American Transportation Research Institution.

If you want to know more about freight factoring in greater detail, check out our breakdown of the advantages of freight factoring.

Freight Factoring Step-by-Step Guide with InstaPay

1. Finish hauling your load

2. Take a picture of your Bill of Lading and Rate Confirmation and email them to InstaPay, right from your phone

3. Wait for a response with the factoring agreement from InstaPay

4. Agree to the terms (no minimum commitments or hidden fees)

5. Sign-up (if you haven’t already) and provide information for bank deposit

6. Get paid within a day and let InstaPay handle collections

It’s that easy! You (and your fleet of drivers) work hard and make tremendous sacrifices to ensure freight is delivered in a timely manner. Without your dedication, America couldn’t function the way it does now. It’s why you shouldn’t have to wait to get paid.

Try freight factoring with Trucker Path InstaPay and expand your business, hauling more freight.

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TagsFreight Factoring

Truck Sanitation Tips <h2></h2> During the last few months, the COVID-19 pandemic has begun to have an effect on everyone in the world. While truckers continue to deliver the vital needs of the country, there is continued risk in accumulating and spreading the virus in doing so. There is a lot that we can do to help prevent the spread of COVID-19. Since truck drivers spend more time inside their trucks, it is important to make sure that it is a clean environment for you and for anyone who rides in it. In this article, we have put together a list of tips on how to clean and disinfect your truck. <h2></h2> <a href="https://truckerpath.com/uploads/2020/07/tst2.jpeg"><img src="https://truckerpath.com/uploads/2020/07/tst2-300x156.jpeg" alt="" width="300" height="156" class="alignleft size-medium wp-image-5233" /></a> <h2></h2> <h3><strong>1. Choosing Your Cleaning Materials</strong></h3> The first step to cleaning and disinfecting your truck is to choose the right cleaning agents and materials you will use. Isopropyl alcohol is a proven disinfectant, and is also safe to use on most truck interior surfaces. In fact, it is used in many production plants to put a final touch on interior components before they are shipped out. Isopropyl alcohol will remove many stains, smudges and residues, as well as kill bacteria and viruses. However, that stain removing quality can also cause problems with leather. <h2></h2> For leather components such as steering wheels, seating, and trim, a combination of soap and water is a safe and sufficient way to clean them. Avoid hard scrubbing when cleaning your leather interior, and avoid excess suds and water. Hand washing has been recommended as a primary way to protect oneself against infection by COVID-19, this holds true for washing your leather interior as well. <h2></h2> Another cleaning agent is chlorine dioxide (ClO2). It is a common disinfectant and odor eliminator, already prevalent in many shops. It is available in the form of tablets, and depending on the amount of water added, can be used in a vapor or liquid form. <h2></h2> It is recommended to use microfiber towels as cleaning material as it lessens the damage on any surface. Wash the towels thoroughly after each cleaning session. <h2></h2> <a href="https://truckerpath.com/uploads/2020/07/tst3.jpeg"><img src="https://truckerpath.com/uploads/2020/07/tst3-300x156.jpeg" alt="" width="300" height="156" class="alignleft size-medium wp-image-5234" /></a> <h2></h2> <h3><strong>2. Cleaning & Disinfecting Truck Interiors</strong></h3> While truck interiors are built to be tough, hard scrubbing or using a rough cloth can cause scratches or even discoloration. A wipe with alcohol on hard surfaces and gentle circular cleaning on upholstery are the best bets for both cleaning and maintaining your truck interior. <h2></h2> It is also very important not to use too much water on your seats. If cloth upholstery soaks through with water, it can get into the cushion beneath. This can cause the growth of mold and that musty smell you will recognize if you've left your windows open in the rain. <h2></h2> If washing the seats of your truck, it is best to wet a cloth or sponge with soap and water and wipe the seats. You do not want to leave excess soap or water, as it can take a long time to dry. Isopropyl alcohol can safely be used on non-leather seats. <h2></h2> <a href="https://truckerpath.com/uploads/2020/07/tst4.jpeg"><img src="https://truckerpath.com/uploads/2020/07/tst4-300x156.jpeg" alt="" width="300" height="156" class="alignleft size-medium wp-image-5235" /></a> <h2></h2> <h3><strong>3. Cleaning & Disinfecting Truck Exteriors</strong></h3> Truck exteriors should not be left behind. Wash you trucks regularly at truckstops. Pay attention to the parts which have frequent contact with your hands and shoes such as step boards and exterior door handles. You may clean these areas with soap. <h2></h2> <a href="https://truckerpath.com/uploads/2020/07/tst5.jpeg"><img src="https://truckerpath.com/uploads/2020/07/tst5-300x156.jpeg" alt="" width="300" height="156" class="alignleft size-medium wp-image-5236" /></a> <h2></h2> <h3><strong>4. Keeping Clean While on the Road</strong></h3> While you're out, you're exposed to germs and viruses that can follow you back into your truck. If you don't have enough time to do a thorough truck clean, keep in mind of the common contact points such as door handles and controls, keys or start button, steering wheel, gear shift, seats, CB radio, all buttons and knobs on your dash, sun visor, anything touchscreen, the console and cup holders. <h2></h2> You can use disinfectant wipes on most surfaces. Wipe your mobile phones while you're at it too. <h2></h2> <h2></h2> <h2></h2> <h2></h2> <h4>By Aldous Aldwin</h4> <h3></h3> <h3></h3>

Jul 29, 2020 • Carriers

APU Weight Exemptions

Dec 15, 2016 • Carriers

ELD Mandate Exemptions [p]Get clarification on electronic logging devices and ELD mandate exemptions set to take effect in December 2017. [/p] [h2]ELD Mandate Exemptions[/h2] [p]As of December 18, 2017, most drivers that currently use paper logs will have to switch over to an electronic logging device. The choices will be an automatic onboard recording device (AOBRD) meeting the current requirements in §395.15, installed before December 18, 2017, or a device meeting the electronic logging device (ELD) standards found in Subpart B to Part 395 and the associated appendix.[/p] [p]There are <strong>five ELD Mandate exemptions</strong> including:[/p] [ul] [li]Drivers that only had to fill out a log eight or fewer days out of the last 30 days. This would include “short-haul” drivers that normally operate under the 100 and 150 air-mile exceptions and intermittent drivers.[/li] [li]Drivers operating a vehicle older than the model year 2000. This also applies to the model year 2000 and newer vehicles that do not have the original engine in them, if the engine serial number indicates that the engine is older than the model year 2000. [/li] [li]Drivers operating a vehicle that is part of a driveaway/towaway shipment. [/li] [li]Drivers driving or towing a recreational vehicle that is part of a driveaway/towaway shipment.[/li] [li]Drivers who are driving a truck that was rented for eight days or less. [/li] [/ul] [p]How are officers on the road going to verify that a driver claiming one of the exemptions is actually entitled to it? It is easier than you might think. [/p] [h2]ELD Exemptions and Short-Haul Drivers[/h2] [p]During a roadside inspection, the officer can contact the carrier for the time records related to a driver he/she is inspecting. The officer can then verify that the driver is complying with the terms of the 100 or 150 air-mile exemptions. This simply involves the officer verifying that there were time records and they showed the driver staying under the limits attached to the exemption. [/p] [p]If the records show the driver as operating under the 100 or 150 air-mile exception often enough, there would be no violation for the driver not using an ELD.[/p] [p]As far as intermittent drivers, the officer will inquire as to how many days the driver has worked out of the last 30. If it ends up to be 8 or fewer out of any 30-day period, there is no violation.[/p] [h2]ELD Exemptions on Older Vehicles[/h2] [p]To verify that the driver can use paper logs due to the age of the vehicle, the officer will simply check the vehicle identification number (VIN). If the VIN indicates that the vehicle is the model year 1999 or older vehicle, there will be no violation for the driver using a paper log rather than an electronic log.[/p] [p]How is this determined? [/p] [p]The model year is coded in the vehicle’s VIN at the 10th position. Presently, 2000 and newer vehicles have Y, 1 to 9, or A to H in the 10th position (i, o, u, and z are not used in VINs by the way). If the 10th digit is anything other than those listed, the vehicle is manufactured before 2000.[/p] [p]In the case of the model year, 2000 or newer vehicle that has been retrofitted with the model year 1999 or older engine, to determine if the engine is manufactured before the year 2000, the officer will ask to see the engine serial number. Using the serial number and available software, the officer can quickly validate the engine model year.[/p] [h2]Driveaway/Towaway ELD Exemptions[/h2] [p]To verify that the driver is allowed to use the driveaway/towaway exception to use a paper log rather than an electronic log after December 18, 2017, all the officer or auditor needs to do is ask for the shipment paperwork. The shipment paperwork will then be used to verify that the vehicle the driver is operating is part of the shipment. If so, then there would be no violation for the driver using a paper log rather than an electronic logging device.[/p] [h2]Rented Trucks[/h2] [p]To verify that a driver is allowed to use the rented truck exemption, the driver must be able to present the rental agreement showing that the vehicle is being rented for 8 days or less. The driver must use paper logs and have records for the previous seven days. Printouts from an ELD system are acceptable. The exemption does not cover “leased” vehicles or vehicles rented for more than 8 days. Multiple back-to-back rental agreements will result in the carrier being cited for not using ELDs.[/p] [h2]Still Confused about ELD Mandate Exemptions?[/h2] [p]If you’re still confused about Exemptions to the mandate or wondering if you need to comply with the ELD mandate, contact J.J. Keller for a free ELD Exemption Assessment. Their ELD specialist will guide you through 21 questions created by their hours of service subject matter experts to help you determine if you are exempt from using ELDs. Call the ELD Exemption hotline at 888-531-8899 or <strong>request an assessment <a href="https://www.jjkeller.com/webapp/wcs/stores/servlet/infoform_10151_-1_10551_52145?cm_mmc=Misc-_-ELDExemptionAssessment-_-eldexempt-_-null">here</strong></a>.[/p] [p]<strong>J. J. Keller & Associates, Inc.</strong>[/p] [p]Since its beginning as a one-man consulting firm in 1953, J. J. Keller & Associates, Inc. has grown to become the most respected name in safety and regulatory compliance. Now over 1,400 associates strong, J. J. Keller serves over 600,000 customers — including over 90% of the Fortune 1000® companies. The company’s subject-matter expertise spans nearly 1,500 topics, and its diverse solutions include ELogs and mobile technology; training via online courses, streaming video or DVD; online management tools; managed services; consulting services; online and print publications; forms and supplies.[/p] <strong>[p]About the Author:[/p]</strong> [p]Tom Bray has been with J. J. Keller & Associates, Inc. for 11 years. However, as he does not get enough excitement working at J. J. Keller and chasing after six kids and nine grandkids, he also chooses to work nights and weekends as a firefighter/EMT.[/p]

Oct 26, 2017 • Carriers