CAT Global Inc

Little too much smoke for my liking. They can stay on the DNU for now.. Did a lot of work for them over the years hope they can make it through whatever the issue is but not taking the chance on our end of getting caught if poop does start to fly.
 
I've been asked on many occasions to do haul there loads. I respectfully decline not siting any reason other than no availability. But truthfully, they've been on the lifetime DNU list since 2020.
 
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I have heard from an employee that works in the Montreal office, that they are going to close the doors. Tread very very carefully. Sad to hear, and a shame.
 
Trucker13 said:
I have heard from an employee that works in the Montreal office, that they are going to close the doors. Tread very very carefully. Sad to hear, and a shame.
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This is quite the rumor to spread.

Is this employee connected enough to know this?
 
Fr8Guru said:
This is quite the rumor to spread.

Is this employee connected enough to know this?
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As you can see from the activity in this thread, this rumor is not so hard to believe. This employee has been working with us for many years, and has been trying to get us paid for invoices that are outstanding. Also if you dig deeper on what's going on there has been smoke for the last year.
 
Trucker13 said:
As you can see from the activity in this thread, this rumor is not so hard to believe. This employee has been working with us for many years, and has been trying to get us paid for invoices that are outstanding. Also if you dig deeper on what's going on there has been smoke for the last year.
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People talking on a forum is one thing.

Saying your buddy who works for them is saying they are closing up. Is a whole other level.

At least in my opinion.
 
Fr8Guru said:
People talking on a forum is one thing.

Saying your buddy who works for them is saying they are closing up. Is a whole other level.

At least in my opinion.
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Buddy was never mentioned, post clearly states employee. But yes I see where you are coming from. Anyways time will tell who is right, I am not thrilled about this as you can see from my previous post, we are owed a substantial amount of money.
 
I don't find it hard to believe that they might be closing or at least downsizing the brokerage side of the business. Many brokers are struggling, and although CAT has said that their previous delays were due to system issues, they are not immune to the challenges the industry is facing. I would advise caution with anyone these days, extend minimal credit, and enforce strict payment terms.
 
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Unfortunately, forums can sometimes lead to misunderstandings. Let me be clear: C.A.T. Global is financially strong and not at risk of closing.

As I’ve mentioned before, I encourage anyone with specific concerns to reach out to me directly. In almost every case, payment timing comes down to when complete documentation is received.

To process payments, our team requires all necessary documents — including invoices, BOLs, and PODs. Our terms are 45 days from the date the full and correct set of documents is received. For example, if an invoice is sent without a POD and the POD is submitted 25 days later, the 45-day term begins from the date the POD is received.

I understand this may not always have been clearly explained, and I apologize for any confusion. Please also keep in mind that during the summer months, vacation schedules can reduce our team’s throughput. In addition, when our payment team receives a high volume of inquiries, it can further slow down processing. Submitting complete documentation up front helps us keep things moving smoothly and ensures payments are made on time.

Once again, if you have a specific situation, feel free to direct message me and I will work with you to find a resolution.
 
I wish no harm to anyone good actors of the industry, brokers and carriers. But the fact that transcredit has an average payment trend over 100 days is a little more than a few gals on holidays, or an invoice tossed because there is no POD attached. Thats global average payment trend. I understand the reassurance though.
 
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We did approach receiver( consignee) , all the loads we had were delivered to same receiver, first few days, there was no response from both parties but when i sent email again to escalate or face collection, about 75% of total owed by CAT was paid. Our remaining invoices are around 40-30-20 days and going to approach consignee again, next week and let's see if they end up paying.
So, i guess better to get consignee/receiver involve than chasing them for payment, might work.
 
CAT Global said:
Unfortunately, forums can sometimes lead to misunderstandings. Let me be clear: C.A.T. Global is financially strong and not at risk of closing.

As I’ve mentioned before, I encourage anyone with specific concerns to reach out to me directly. In almost every case, payment timing comes down to when complete documentation is received.

To process payments, our team requires all necessary documents — including invoices, BOLs, and PODs. Our terms are 45 days from the date the full and correct set of documents is received. For example, if an invoice is sent without a POD and the POD is submitted 25 days later, the 45-day term begins from the date the POD is received.

I understand this may not always have been clearly explained, and I apologize for any confusion. Please also keep in mind that during the summer months, vacation schedules can reduce our team’s throughput. In addition, when our payment team receives a high volume of inquiries, it can further slow down processing. Submitting complete documentation up front helps us keep things moving smoothly and ensures payments are made on time.

Once again, if you have a specific situation, feel free to direct message me and I will work with you to find a resolution.
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Okay I direct messaged you - let me know what the progress is on my 70+ day old invoice
 
martinwizz said:
I wish no harm to anyone good actors of the industry, brokers and carriers. But the fact that transcredit has an average payment trend over 100 days is a little more than a few gals on holidays, or an invoice tossed because there is no POD attached. Thats global average payment trend. I understand the reassurance though.
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I appreciate the insight you’ve shared into the information being referenced. I haven’t seen this particular report or how it was built, but I can say with confidence that our transition to the new system a few months ago definitely had an impact on this score.

With today’s online environment, it’s easy for a few exceptions to be misrepresented as the norm. If you could kindly DM me a copy of the report, I’ll have our financial team work directly with Transcredit to review and rectify any potential inaccuracies.

Our internal stats show that over the past four months, our average days to pay have consistently been well below 100.
 
bigt said:
We did approach receiver( consignee) , all the loads we had were delivered to same receiver, first few days, there was no response from both parties but when i sent email again to escalate or face collection, about 75% of total owed by CAT was paid. Our remaining invoices are around 40-30-20 days and going to approach consignee again, next week and let's see if they end up paying.
So, i guess better to get consignee/receiver involve than chasing them for payment, might work.
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As stated above, our payment terms with our carrier partners are 45 days. Based on the data you’ve shared, the days outstanding are below those terms, and we appreciate our carriers for respecting them. If you could DM me the details, I’d be happy to review and work with you directly.
 
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