freight-tec.com
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Since January of 2014 Broker business has increased by 15%, and that grown still isn’t meeting demand. Broker bonds were raised to $75,000 in 2013, as a result, the brokerages with low credit scores shut down, bringing in a new batch of more financially secure brokers. Freight Tec carries a $100,000 bond, and was rated in the Top 100 Broker by Inc. Magazine. If you’re interested in changing careers and becoming a Freight Tec Agent, check out or Agent Program.
We start our Carrier Qualification Process and find out that the Carrier wants to use an owner-operator. When we talked to the Owner-Operator, he forwarded to us a Certificate of Insurance showing Auto Liability Insurance. Therefore, if we would have given this Carrier our load, our Shipper and we would have had a huge public liability risk since nobody was insured to protect the public. Freight Tec carries Professional Errors and Omissions Liability Insurance (the same insurance as medical doctors, lawyers, CPA’s, and engineers carry) in the event we make a mistake.
Imagine one of your largest customers going belly up… and they owe you and your Broker company $50,000.00… If you are on a 60%/40% split, you would pay $30,000, and the Broker would pay $20,000. A few years down the road, they were hit for a $400,000.00 bad debt from one customer, then another one for 109,000.00, then another one for $55,000.00. The criminal thing behind it all was this: There was a rotten apple agent who PURPOSELY did business with companies he knew were at risk of not paying their freight bills for one reason or another.
If it’s true that “time kills all deals,” as many say, then anything that prolongs the process of a deal should be avoided. Reducing Carrier Setup to Six Minutes or Less To avoid losing loads because of the unacceptably lengthy one-time carrier setup, freight agents are looking for solutions. Freight Tec prepares its agents for success by providing a state-of-the-art process that allows a new carrier to be set up in just six minutes. Independent agents are empowered to go out and secure new carriers at a moment’s notice — without fear that the deal will be derailed by administrative nonsense.