A Strategy That Will Save Money..

All I see on LinkedIn is Double Broker this and Double Broker that.. We got this technology…

What is a Surety Bond?

A surety bond is a promise to be liable for the debt, default, or failure of another.?

Linehaul transportation:?

is a branch of shipping logistics that helps companies determine the logistics for moving goods between specific points within a pre-determined timeframe.

Owner Operator:

A Independent Contractor in simplest form a rolling small business.. A (BUSINESS OWNER)

Owner Operator with Company Driver mindset:

Is one who is wanting to be a Independent contractor but has company driver tendencies.. Always in their feelings and not running a business..

What I’m about to touch on is what Brokers, Factoring Companies, Load Boards and all this technology hides in plain sight.. Now I know this might strike a couple nerves but if you listen you might learn something and stop getting screwed on your money.. I’m a realist…

Ok let’s dive in…

First Off all this technology is used to collect data and doesn’t make you profitable. If so show me one… All this technology and apps do is itemize things tracking, data sharing, nothing profitable for the Carrier.. Now who profits from this Factoring Companies, Brokers and 3rd party sources witch are typically the ones on this platform selling you this technology that will make your company a success tomorrow… Quit giving your insights. Scam central is California where all this technology is created I mean look at the technology pages on this platform and you will see 98% are from California double broker capital.

Now, Why is Surety Bond up top there?

I’m glad you asked because we’re here to run a Business and this is the information you need in your toolbox in order to stay relevant.. No google won’t tell you this, LinkedIn won’t tell you this, Facebook won’t tell you this and you definitely won’t find it on YouTube.. Understanding Surety Bonds is VERY! VERY! IMPORTANT! It just might be what will keep your company ALIVE! Don’t be so dependent on your Factoring company to notify you in a proper time that a brokerage is going out of business. You have to understand Factoring companies work hand in hand with brokers. Let’s take it up a notch you have foreign companies in the states and overseas collecting our tax dollars and not paying carriers and when carriers go to file on their bond they’re untouchable they are out the trace.. And many other factors it's not only this. We need to stand up and see this because this what is killing Owner Operators.. Listen and Learn don’t let this recourse and non recourse which are two types of debts: recourse and nonrecourse.?A recourse debt holds the borrower personally liable.?All other debt is considered nonrecourse. Don’t let yourself keep getting abused this is where this industry needs to be addressed because they’re robbing you me, Joe, Becky and the rest of small companies that make 90% of the industry. Stop being so gullible.. Because if we’re non recourse how are they putting a lean when entering a contract? But the Factoring company is your buddy correct? Non recourse means that the Carrier is not liable for repayment in the event that a broker should not pay. So then why do you have to sign a lean?.. Are you following me? Read between the lines.. We need to be addressing this shady stuff but were worried about non competes while this is the real problem shady factoring companies and shady brokers is what we need to start reporting or simply just don’t haul the freight which will then Drive the rates up right? It happened in Covid.. But it won’t happen because we’re afraid, all these inexperienced owner operators is what they like because they don’t know how to run this business and hurting the experienced. And they don’t want you to know this so they keep control and the independents have no control because it is a threat to give the Independents control. And this is the reason why the market will always stay low.. You need to stop falling for this system… This system is not designed for you to succeed.. But this is the information we take offense to.. Let’s keep going Brokers from the month of December to March screw carriers by not paying and factoring companies have no obligations in contacting any broker in the United States because their contract is with you the carrier… I haven’t seen a factoring company sue a broker but they’ll sue a carrier yes quick… But they’re your Buddy 1.5%-2% and because you just didn’t understand what you read on that contract..?

OK now that we have that understanding I’m gonna show you how to file on a surety bond in the simplest form..

Broker did a non-payment on you..

1st thing you do is get the BOL

2nd pull up the Rate Confirmation

Now look at the rate confirmation and the only amount of money you can go after is the line haul rate or transportation cost.

Any accessory charges for example detention, layover, lumper, fuel surcharge etc is a civil suit either in your state or their state.

Now you get on safer.gov put in the brokers motor carrier number there you will see their insurance/surety bond company information. From there you’re going to email them and call them and file notice let them know that you were trying to recoup payment for nonpayment from the broker.. From that point they are going to ask you to submit the BOL and your Rate Confirmation. Now the only amount of money that they are going to release to you is the line haul rate and that is if they have that amount in their bond if anybody else has called to recoup money as well..

Now that we have this understanding from this point on carriers should only charge one charge and that is a ALL IN LINEHAUL RATE no separate charges known as accessory put those accessory charges into your linehaul rate that way when you go to file on a Bond again all those accessory charges are on the line haul rate and you get compensated for all of it instead of doing a separate civil suit after filing on the bond… Why we do it this way is because linehaul you get fully compensated.. A civil suit is not a guarantee you can’t collect it… if a broker doesn’t want to do it this way I would not work with them because they are shady and they will screw you… That is why some factoring companies will only advance you the line haul rate no accessory charges… Now by law in 30 days if you have not received payment from a broker you have to file on that bond, brokers don’t like this but this is how you guarantee your money.. This will keep your DDP Down Delivered Duty Paid.. If you do it this way you’ll keep your money and watch your debt ceiling come down and stop using Factoring companies because you’re volatile risk will drop down drastically by 50% and you’ll have a 70% reduction in non payment easy. Meaning you retain more of your money that is reflected on a rate confirmation. Without all this back-and-forth shit.. By telling them you want to do a all in linehaul rate simple.. Remember the Bond protects the line haul rate..

This is the game they don’t want you to know right here now are you going to use it I don’t know.. I hope you do though..

Don’t put your company at risk for nonpayment simple..

Before signing any CONTRACT READ! DON’T LET THEIR PRESSURE SALES TACTICS PUSH YOU! THEY’RE TRAINED TO DO SO…

APPS DON’T LET YOU ENFORCE YOUR MONEY…

PEACE AND BLESSINGS…