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Freight 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

Jul 17, 2020 • Carriers

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 - January 17, 2020 <h4>By Paul DeCoste</h4> <h3></h3> <h3></h3> <h3><strong>Did you Know?</strong></h3> This week, the Senate passed a <a href="https://www.ttnews.com/articles/senate-passes-usmca-trade-deal">new trade deal with Canada and Mexico</a> that will boost current American exports to those countries by $33 billion. The official 89-10 Senate vote gave us a rare example of bipartisanship in modern politics. Since this deal expands the amount of agriculture and manufacturing that needs to be transported, it will end up being great for the trucking industry. On top of that, this deal introduces new ways to eliminate fraud and counterfeit goods, allowing the digital sector of the American economy to flourish. <h3></h3> <h3><strong>Trucking Tip of the Week</strong></h3> <a href="https://www.truckersnews.com/gear/roaster-makes-in-cab-cooking-taste-homemade/">Cooking on the road?</a> RoadPro’s new portable roaster makes it easy to cook delicious meals right in your cab. The roaster plugs into any 12-volt power outlet and can accommodate glass baking sheets or reusable aluminum baking pans. <h3></h3> <h3><strong>Startup Technology</strong></h3> <a href="https://www.freightwaves.com/news/toyota-invests-394-million-in-flying-taxi-startup-joby-aviation">This startup company is reinventing the way we think about commuting.</a> <h3></h3> <h3></h3> This week, Joby Aviation received a $394 million investment from Toyota. Joby Aviation is working to create a flying taxi that can hit top speeds of 200 mph and run off a battery charge for over 150 miles. In addition to the capital that Toyota has invested, Joby has raised a total of $720 million to make their transportation solution practical for the masses. Although most of the information about this VTOL aircraft is kept secret, pictures prove that it consists of six rotors and has five seats inside the cockpit. <h3></h3> <h3>Combating<strong> Human Trafficking</strong></h3> Susan Collins, along with 7 other members of Congress, <a href="https://www.ttnews.com/articles/susan-collins-7-other-lawmakers-recognized-combating-human-trafficking">was recognized for her legislative efforts</a> to reduce human trafficking throughout the nation. Over the past few years, Senator Collins has supported legislation that targets online forums that solicit human trafficking. She recently helped pass the “Runaway and Homeless Youth and Trafficking Prevention Act of 2019” legislation. <h3></h3> <h3>Tire Thieves Caught</h3> <a href="https://cdllife.com/2020/texas-couple-sentenced-for-semi-truck-tire-theft-conspiracy/">Joel Vargas, 34 and his wife, Angelica Vargas, 39</a>, were recently sentenced to 235 months and 60 months, respectively, in federal prison for robbing more than 100 tire stores over a 15-year period. They continuously targeted commercial tire businesses and stole numerous amounts of rental vehicles to carry out their jobs. They are part of a multiple-person conspiracy which ended with the convictions of five other individuals.

Jan 17, 2020 • Carriers

Industry Update - January 8, 2020 <h4>By Paul DeCoste</h4> <h3><strong>Transitioning to New Trucker Path ELD?</strong></h3> Take a look at these resources for self on-boarding to your new Trucker Path Pro ELD: <h3></h3> <h4><strong>Blog Post:</strong> <a href="https://truckerpath.com/blog/self-onboard-your-new-eld/">https://truckerpath.com/blog/self-onboard-your-new-eld/</a></h4> <h3></h3> <h4><b>Web Application On-boarding:</b> <a href="https://www.youtube.com/watch?v=bCAhI4Byb5E&feature=youtu.be">https://www.youtube.com/watch?v=bCAhI4Byb5E&feature=youtu.be</a></h4> <h3></h3> <h4><b>Mobile Application On-boarding:</b> <a href="https://www.youtube.com/watch?v=IBAr9Lo9cpg">https://www.youtube.com/watch?v=IBAr9Lo9cpg</a></h4> <h3></h3> <h4><strong>Cab Card Link:</strong> <a href="https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3Ab7f1d6a5-0ebd-4dc3-b9e4-f55dcbe9071c">https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3Ab7f1d6a5-0ebd-4dc3-b9e4-f55dcbe9071c</a></h4> <h3></h3> <h3><strong>Did you Know?</strong></h3> <a href="https://www.ttnews.com/articles/fmcsa-increases-random-drug-test-rate-50-2020">The FMCSA is increasing random drug screenings from 25% to 50% in 2020?</a> <h3></h3> The rate of drug screenings was initially reduced from 50% to 25% in 2016 but is being raised again. With 3.2 million CDL holders participating in interstate commerce and 1 million CDL holders participating in intrastate commerce, there will be more than 2 million random tests organized in 2020. <h3></h3> <h3><strong>Trucking Tip of the Week</strong></h3> This week, Love’s announced that 10 of their existing locations will now have Truck Care Centers and Speedco facilities. <a href="https://www.truckersnews.com/loves-adds-truck-care-speedco-locations/">Take a look</a> at which locations have been upgraded and are now accessible if you need tire, lube or mechanical services. <h3></h3> <h3><strong>Diesel</strong></h3> <a href="https://www.freightwaves.com/news/how-are-diesel-prices-determined">How are diesel prices determined?</a> <h3></h3> The price for diesel is established like most retail goods, by the shift of supply and demand in the market. But, interestingly enough, the wholesale price for diesel does not always translate to the retail price for the same good. Retail prices are determined solely by each individual enterprise that sells diesel to consumers via gas stations and fuel stations. The "rack price" is a term used to refer to the daily wholesale price of diesel and there are many different resources available to keep tabs on the diesel rack price across different wholesalers. <h3></h3> <h3><strong>Celadon Employee Payout</strong></h3> This week, Celadon was <a href="https://www.ttnews.com/articles/judge-approves-payout-plan-former-celadon-employees">granted approval to pay $4.6 million to drivers and employees that did not receive paychecks when the company shutdown.</a> A federal bankruptcy judge granted this approval. This order allows $3.4 million to be spent on unpaid compensation and termination benefits for former employees, $900,000 to owner operators, and $300,000 owed for employee benefits. Although the company is approved to pay out the drivers and employees that deserve their finals paychecks, Celadon is not bound to do so.

Jan 08, 2020 • Carriers

Industry Update - December 5, 2019 <h4><strong>By Paul DeCoste</strong></h4> <h3><strong>Did you Know?</strong></h3> It is a safety violation to replace your truck seat with a <a href="https://cdllife.com/2019/nebraska-state-patrol-finds-unusual-violation/">lawn chair…</a> <h3></h3> <h3><strong>Weather Report</strong></h3> Pennsylvania and New Jersey have <a href="https://cdllife.com/2019/states-issue-truck-bans-ahead-of-snow-storm/">issued travel bans for vehicles</a> in lieu of a massive snowstorm. Vehicles affected are double trailers, empty trailers, RVs, motorcycles, and non-commercial vehicles hauling trailers. This travel ban went into effect at 6 AM on Monday, December 2<sup>nd</sup>. <h3></h3> For more information on which roads are blocked from travel, take a look at the Pennsylvania DOT Facebook page: <a href="https://www.facebook.com/PennsylvaniaDepartmentofTransportation/">https://www.facebook.com/PennsylvaniaDepartmentofTransportation/</a> <h3></h3> <h3><strong>Regulations</strong></h3> California Air Resources Board (CARB) has announced that it is <a href="https://www.ttnews.com/articles/carb-suspends-imminent-ghg-rule-trailers">suspending the enforcement of its greenhouse gas trailer standards.</a> The original standards could be met by adding features to trailers that reduce aerodynamic drag, upgrade the tire pressure monitoring system, introduce low-rolling-pressure tires or other weight reduction methods. <h3></h3> These standards were set to go into effect on January 1<sup>st</sup>, 2020 and had to be met by manufacturers of new trailers. However, due to the lack of federal enforcement and confusion among the definition of a “new trailer”, the CARB has suspended the implementation of these rules for the next two or three years. <h3></h3> <h3><strong>ELD Update</strong></h3> The Commercial Vehicle Safety Alliance (CVSA) is warning <a href="https://cdllife.com/2019/cvsa-warns-truckers-no-soft-enforcement-for-eld-deadline/">that there will be no leeway on December 17<sup>th</sup></a> for drivers that have no transitioned to approved ELDs. <h3></h3> Look out drivers! The CVSA says that on December 17<sup>th</sup>, any driver caught without an FMCSA approved device will be considered to have no record of duty status and will be declared out of service for 10 hours. That’s valuable time that no one can afford to lose! Make sure your ELD is in line with the FMCSA rules: https://www.fmcsa.dot.gov/hours-service/elds/general-information-about-eld-rule <h3></h3> <h3><strong>Trucking Industry Serving the Community</strong></h3> Truckers serve the community in many different ways and styles. <a href="https://www.trucker.com/drivers/drivers-industry-leaders-lead-through-charitable-work">Here are just a couple of foundations making a difference this Christmas season:</a> <h3></h3> <ul> <li><strong>The Convoy of Care</strong> – Founded in 2016, Convoy of Care delivers critical supplies to families in need after natural disasters. They have delivered supplies to multiple states across the US and even found a way to get supplies to the Bahamas.</li> </ul> <h3></h3> <ul> <li><strong>The American Logistics Aid Network</strong> – The ALAN provides free logistics support to disaster relief organizations before, during and after natural disasters.</li> </ul> <h3></h3> <ul> <li><strong>CFI</strong> – CFI has been donating through its Truckloads of Treasure event since 1993 and has collected over $800,000 in donations from employees and contractors alike. They choose multiple charities to support each year and even hold fundraising events like chili cook-offs, silent auctions and ugly sweater contests.</li> </ul> <h3></h3> <ul> <li><strong>XPO Logistics</strong> – XPO supports the Ohio based non-profit, Elves and More which helped surprise over 800 children with bikes during the 2018 holidays. They even donated 500 bikes for a Christmas in July event this past summer.</li> </ul> <h3></h3> <ul> <li><strong>Wreaths Across America</strong> – Drivers throughout the industry look forward to participating in Wreaths Across America, a foundation that coordinates wreath laying ceremonies at more than 1,600 locations across the nation. Drivers support by delivering wreaths to different locations and even participating in the wreath laying events.</li> </ul>

Dec 05, 2019 • Carriers

Freight Factoring Process [p]Here's a step-by-step guide to better understand the freight factoring process and how it can be beneficial for your trucking company.[/p] [h2] Freight Factoring Process [/h2] [p] 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 <a href="https://truckerpath.com/blog/freight-factoring-company/">freight factoring company like <strong>InstaPay</strong></a>. that makes the process of getting paid easier than ever! [/p] [h2] What is Freight Factoring? [/h2] [p]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.[/p] [p] 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 <a href="https://truckerpath.com/blog/recourse-vs-non-recourse-factoring/">non-recourse freight factoring</a> with <strong>InstaPay</strong> means you don't have to worry about collecting from your clients either. To put it simply - send your docs and get paid immediately![/p] [p] 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. [/p] [p] If you want to know more about freight factoring in greater detail, check out our breakdown of the <a href="https://truckerpath.com/blog/advantages-of-freight-factoring/">advantages of freight factoring. </a> [/p] [video id=h3kXwM59BgM] [h2] Freight Factoring Step-by-Step Guide with InstaPay [/h2] [p]1. Finish hauling your load [/p] [p]2. Take a picture of your Bill of Lading and Rate Confirmation and email them to InstaPay, right from your phone[/p] [p]3. Wait for a response with the<a href="https://truckerpath.com/blog/factoring-agreement/"> factoring agreement</a> from InstaPay [/p] [p]4. Agree to the terms (no minimum commitments or <a href="https://truckerpath.com/blog/hidden-costs-to-factor/">hidden fees</a>) [/p] [p]5. Sign-up (if you haven't already) and provide information for bank deposit [/p] [p]6. Get paid within a day and let InstaPay handle collections [/p] [p]<strong>It's that easy!</strong> 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.[/p] [p]Try freight factoring with Trucker Path InstaPay and expand your business, hauling more freight. [/p] [button text="Sign Up For InstaPay" href="https://www.getinstapay.com" width="250px"]

Oct 10, 2017 • Carriers

Freight Factoring Fees [p]Some companies will charge freight factoring fees compounding the actual factoring cost for your trucking company to factor a load. [/p] [h2] Freight Factoring Fees [/h2] [p] Review the fine print of freight contracts and understand the factoring fees that sneaky freight factoring companies sometimes have hidden from the advertised factoring rate. [/p] [p]Freight factoring can be a great tool to streamline your cash flow and grow your business as it eliminates the wait to get paid for owner-operators. However, some factoring companies have contracts with complicated jargon and disclaimers hidden in the fine print. [/p] [h2] Hidden Costs and Factoring Fees [/h2] [p]Sometimes a factoring company will advertise a great rate, far lower than any competitor. It's a perfect scenario for you, right? Well, not exactly. [/p] [p]Those rates that seem too good to be true are typically just that. Although a low rate is optimal, the associated factoring fees that you will incur in addition to the rate can balloon the overall cost for you to factor. [/p] [video id="IBCMtru_QMQ"] [h2] ACH Transfer Fee [/h2] [p]ACH Transfer fees can be issued each time you factor and range from $10 to upwards of $25 depending on the type of transfer or deposit. This cost can surely add up over time and frankly, it's ridiculous for to you to pay a fee just to receive your money. [/p] [h2] Minimum Volume Fee [/h2] [p]Often times a factoring company will require you to commit to factoring a minimum volume of invoices. Failure to meet the agreed minimum amount can result in extra fees or a percentage surcharge. Take into account your typical invoice amounts and calculate if you will have an issue trying to meet the minimum requirements. Keep in mind not all factoring companies have this policy or fee. [/p] [h2] Client's Credit Check Fee [/h2] [p]Although your credit is not taken into account, your client's credit is. The creditworthiness of your client must meet a certain standard for certain factoring companies before they agree to factor your invoices. That's right, some companies will charge you a fee for that credit check. [/p] [h2] Length of Terms [/h2] [p]You might decide to factor for a variety of reasons. Unavoidable circumstances might arise making it difficult to cover your operational costs. Truck repairs are extremely costly and unpredictable at times, especially for owner-operators and having a reliable truck that is fully functional is essential to your business. If you run a small fleet, wages, insurance, and taxes further compound your expenses. [/p] [p]This brings the length of terms to factor into play. Most factoring companies offer three to six-month term agreements to factor with some even require one-year contracts. It's important that you review and consider your options when considering the length of terms.[/p] [p]Be sure to choose the best fit for you. If you're confident that you won't be factoring for an entire year or that you want to explore other options after a few months, you should consider factoring with a company that doesn't have a minimum length of terms agreement. [/p] [h2] Termination Fee [/h2] [p]Let's say you have been factoring with a company for six months now. You have received payment days after hauling a load and it's been beneficial in helping you generate cash quicker to cover your expenses. Now you have ample funds and decide that you don't need to factor for the next few months.[/p] [p]The factoring company won't let you out of the contract because you agreed to factor for a certain length of time. In order for you to stop factoring, you have to pay a fee up to $1,000. [/p] [p]That's ridiculous, right? [/p] [giphy] <iframe src="https://giphy.com/embed/KE58LJF3k8jug" width="480" height="426" frameBorder="0" class="giphy-embed" allowFullScreen></iframe><p><a href="https://giphy.com/gifs/roger-KE58LJF3k8jug"> [/giphy] [h2] Choosing a Freight Factoring Company [/h2] [p]The list of factoring fees can be costly and limit your trucking company's ability to sustain a stable cash flow. [/p] [p]Before choosing to do business with a factoring company, you should take into account these potential hidden costs and fees in the fine print of a contract. Freight Factoring helps manage your trucking company's cash flow and takes the hassle away from client collections, allowing you to focus on growing your business and hauling more freight. [/p] [p]You shouldn't feel that you are being fleeced by an unusual amount of fees that you weren't aware of or deal with. <strong>Trucker Path InstaPay</strong> is freight factoring that pays you in a day with no hidden costs, fees, minimum commitments or contracts with pages and pages of fine print to sift through. [/p] [button text="LEARN ABOUT INSTAPAY" href="https://truckerpath.com/sign-up-instapay/?utm_source=blog&utm_medium=factoringfeesAug29" width="250px"]

Aug 29, 2017 • Carriers