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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Bad debts are one of the most dangerous threats facing any freight brokerage, and they can turn a profitable quarter into a financial disaster almost overnight. Imagine one of your largest customers suddenly going belly up while owing you and your broker $50,000 in unpaid freight bills. You soon learn there is no realistic hope…
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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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Cargo insurance is the financial safety net that protects shippers, trucking companies, and freight brokers when freight is lost, damaged, or stolen somewhere between the loading dock and the final destination. Without it, a single accident, theft, or warehouse fire can wipe out the entire value of a shipment — and leave the shipper holding…
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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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Oil contract futures are standardized agreements to buy or sell a fixed quantity of crude oil at a set price on a future date, and they have shaped — and sometimes shaken — the entire freight industry for over a decade. In 2008, a surge of speculative trading in oil contract futures pushed crude toward…
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