I have been contemplating (…or have already started…) writing a guidebook for transportation factoring. This continues to be more of a ‘niche’ industry when it comes to transportation factoring. In this venture, I am seeking feedback. In the post below, I have listed some questions and summarized feedback to those questions we have received that would be included in that manual/guideline. Any interests, feedback, suggestions would be helpful. Thank you in advance for your input and continued interests in this weblog:
Can a carrier operate outside of their base state after they have applied for authority? If a carrier is transporting exempt commodities and has a USDOT number, they may operate as an exempt for-hire interstate motor carrier without an MC number… Simply applying for operating authority is not sufficient.
Can a contract carrier broker loads? No. A contract carrier cannot broker loads without…
What is Intrastate Authority? Intrastate authority is the right granted by a state to commence for hire trucking operations within the borders of that state only. If a load’s origin and destination are within the same state then intrastate authority may be required…
What if the carrier is operating without their authority? Operating without authority can lead to civil penalties… invoices generated by carriers who are operating without their authority may be considered invalid and would not be subject to payment by an account debtor…
Is double brokering legal? Yes but…
After reading everything about double brokering, I am still confused on what this is? Double brokering is where one broker brokers a load to a trucking company with contract authority. Then, that entity in turn brokers the load to another contract carrier, without the knowledge of the first broker…
Feel free to comment or email me directly at support@factorguru.com.
Wishing you success. The Factor Guru.