how long does it usualy take brokers to pay

A lot are set on 30 days of receipt of original copies. A good question to ask, is if they accept a faxed POD. That will speed up turn around time. Then they will also offer quick pay for 1.5-5% of the load. Of course try to avoid that or any advances. Higher mc# such as 700kxxx you might be putting yourself at risk of non payment. Look at credit scores on load boards. If unsure on a company, don't use them. Hope this helps!

 

If you take a quick pay (if offered) you can have your money immediately with a clean POD. If you send a POD by snail mail and wait for them to process payment and for them to snail mail you payment it could take up to 45 days. In most circumstances you can get paid quicker by exterting more effort. Emailing a clean POD and an invoice will speed up the process and even if you have to snail mail the original POD they will usually start the payment process upon receipt of the email copy and finish it when they receive the original.

 

I can only speak for Landstar as I don't deal with accounts receiveable on other brokers. Typically its 21 days from receipt of all paperwork unless you sign up for the Landstar Savings Plus (LSP) program, and then you're paid within 48 hours and are eligible for the tire discounts and such. I'm sure the other large brokers like CHR and TQL also have something like this in place. I wouldn't be surprised if Schneider Choice had something like this as well. I just truly don't know.

 

Don't do business with a broker that wants all originals. They are just looking to delay payment. Now, some accounts may require it but few need originals anymore.

 

@BigBadBill. With more technology comes more scammers. There is a new wave of altered paperwork via cheap programs like photoshop, paint...you get the idea. So some brokers have been burned before and now request originals only. Others may have not been hit yet. Pretty sad industry with scam after scam. I get daily emails on how there is another wave of ID theft. They are altering a broker confirmation sheet, putting in their phone, fax and address, having a carrier do a load for a different 3pl, get the bills and never pay carrier (while they pose as the real carrier). CHR, OHL, m2 are some of the recent hit by this scam.

 

We've had our little computer battle on another thread- but I saw a post about the detention pay, now I'm interested. Just PM me any info so we don't spam this thread.