Category: Shipper Liability
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A freight broker acts as the critical link between shippers who need freight moved and the carriers who move it, negotiating rates, securing capacity, and managing the paperwork so neither side has to handle logistics alone. If you have ever wondered how a pallet of goods travels from a warehouse in Ohio to a retail…
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Should Agents be 100% liable for their customer’s Bad Debts? Imagine one of your largest customers going belly up… and they owe you and your Broker company $50,000.00… You soon learn there is no hope of collecting any of the money owed… Who should pay for that bad debt? It should be split the same way…
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This is a True Story. A carrier calls our office to book a load we had shared with our network. We start our Carrier Qualification Process and find out that the Carrier wants to use an owner-operator. We advised the Carrier that we needed to see their federal operating authority, Certificate of Insurance, W-9, and…
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The FBI estimates the loss value of Cargo Theft at roughly $30 Billion dollars a year. Don’t think that effects you as an every-day consumer? Think again. That $30 Billion loss causes retail business everywhere to mark-up their products an additional 20% for consumers! … And that’s on items you buy everyday! Electronics, food and clothing were the top three commodities stolen in 2010. …
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Transportation is the process of moving people, freight, and raw materials from one location to another, and it quietly shapes almost every purchase, harvest, and delivery in the modern economy. Whether it happens by rail, truck, ship, or air, transportation determines how quickly goods reach shelves and how much that convenience costs. In particular, the…
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The Federal Motor Carrier Safety Administration (FMCSA) has issued a final rule that will eliminate Cargo Insurance requirements for freight forwarders and most motor carriers. Only household goods carriers will be required by law to maintain Cargo Insurance. All other motor carriers and freight forwarders will no longer be required to maintain Cargo Insurance as…
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Freight Tec carries a significantly higher bond than is currently required by the F.M.C.S.A., and has for quite some time now. Interesting to note that legislature is currently trying to raise the bond limit to $100k instead of just $10k, under the “Motor Carrier Protection Act of 2010” (S 3483). In the May/June 2010 issue…
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In January of this year, the Commodity Futures Trading Commission proposed a new rule that would set limits on who can trade futures in the oil market. The CFTC has rightly determined that the sudden increase of oil contract futures in Mid-2008 was caused by speculators who did not have a “legitimate commercial interest” in…
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