Brokers Now asking Lease agreements

loaders said:
I think a lot of these requests for more and more information regarding an entities financial health, is due to the poor service that credit reporting agencies are providing. If there was one source, or many, of good, current, factual information available I am sure people would be happy to buy it. The current slate of providers seems to be extremely lacking in good information and as a result, people are doing whatever it takes to gather their own. Unfortunately, many of these agencies have become like Trip Advisor where most of their information is based on strictly negative reviews. Hardly the right material needed to make a good decision.
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Agree, seen way too many companies on link with "Excellent credit ratings" that clear as day can't remit in 30 days...

TransUnion or Equifax, either can't be deemed to be more than 50% accurate imo for businesses in Canada. Dun Bradstreet seems to have the most current, and accurate information, but the membership isn't cheap.

Ensuring the applicant provides quality trade references that are transportation or logistics based and doing proper reference checks and pulling a D&B go a long way to determining the health of a company imo.
 
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loaders said:
I think a lot of these requests for more and more information regarding an entities financial health, is due to the poor service that credit reporting agencies are providing. If there was one source, or many, of good, current, factual information available I am sure people would be happy to buy it. The current slate of providers seems to be extremely lacking in good information and as a result, people are doing whatever it takes to gather their own. Unfortunately, many of these agencies have become like Trip Advisor where most of their information is based on strictly negative reviews. Hardly the right material needed to make a good decision.
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It would help if carriers and factoring companies would report accurate numbers. Example.. load picks up May 5.. delivers May 7.. billed May 9 and payment out of my account on May 18. How is that 45 days to pay?
 
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Freight Broker said:
It would help if carriers and factoring companies would report accurate numbers. Example.. load picks up May 5.. delivers May 7.. billed May 9 and payment out of my account on May 18. How is that 45 days to pay?
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Oh tell me about.

Rev Capital is the absolute worst I've seen. They start counting days from when the load delivered and make it up as they go.

They sent us an email today asking for payment on a load that was "58 days old"

Except we got the invoice... a week ago. But some how that's our fault.
 
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Igor Galanter said:
Chime in on unreasonable requests in the past...When approached with unusual requests of additional info as above, just asked them back to provide about same info to me, as computers makes and serial #'s, VIN's of a company leased vehicles and something else similar to their requests...Hey, we are in the same game...
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Dental records, DNA swabs..and to keep it interesting and weird, a recent mechanical inspection report of the broker’s personal vehicle.
 
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