Anco Logistics - Woodstock, ON

AccountsReceivable@DRC

AccountsReceivable@DRC

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Anco Logistics - Woodstock, ON 519-421-1117

Looking for current payment trends on the above noted company. Any posts appreciated.

Thank you
 
Loaders - we've got other brokers on this site and customers I deal with daily that have no bond. It has nothing to do with their credit terms or how they pay. In fact - quite a few are great payers and have been for over a decade now.

I certainly wouldn't label them with a "BEWARE" headliner due to not having a bond.

We've really exhausted that whole conversation in the past. Too many varying opinions so best left with "agree to disagree" on that topic.

Back to credit history on Anco Logistics....
 
yes, but watch their AP skyrocket as they add volume - the bigger concern is whether they have the resources to handle the payables until their increased receivables are paid up
 
htcollections said:
Thats usually a good thing?
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It is if they have the cash to back up the waiting involved with taking on all the new clients that the old Schroeder gang is brining to the table. I will just hold of for 6 months or so and see what the credit and reviews are like at that time. Remember Schroeder's credit was all fine until they took on this team and that one cost a lot of people a lot of money. Let me know how you make out HT as you seem to have real good luck collecting.
 
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The same could be said about all transport companies. Everyone needs good cash flow or financial backing. The facts right now are that we receive payments on time. Hoping that continues but not making any negative comments until the payments are late. the less drama the better.
 
The problem with not having a US bond is that they don't qualify to work for US shippers. Even though it isn't law here, in order to qualify as a supplier down there you have to have the authority and broker bond regardless. So to grow their business and take on the right kind of clientele, they have their work cut out. If you see that a company without the bond is moving loads for US based shippers (especially larger ones) it should be MEGA red flag. Not saying that Anco is doing this, just thinking that the comment from yesterday was related to it.
 
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This is a fairly new company that operates assets into the US - the freight brokerage part is new. I don't know how the brokerage fits in or how Schroeder sales team is involved.

I hope they make it work, I know the owner. For now we are cautiously optimistic but will only allow one outstanding payment/shipment at a time....
 
htcollections said:
When was Anco Incorporated?
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The owner been in business for a long time in a number of different industries. He was an owner operator at one time. I am not sure exactly when "Anco Incorporated" was Incorporated but the current carrier business profile with assets started about 4-5 years ago. They started entering the US about Feb 2016. Anco recently put up a building/yard in an industrial area in Woodstock last fall (2016). He has a number of trucks - some company, some owner-operator - mostly flatbed.
 
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