If you only use load boards how do you get paid?

I assume they pay you like every other business pays another company... via EFT or Paper Check to your Bank.

Land they give you 5% more if you take it in the form of Amazon Credit....

Ask if they can pay you in Bit Coin too.

Many options... or just pay a factoring service to collect it on your behalf.

 

Landstar and Mercer give a fuel card and they load your money on that. Others you can set up direct deposit into your bank account.

 

Ah, yet another option... thanks.

 

Good Luck

 

You invoice the broker to get paid. Maybe they send a check within a week, unlikely, or maybe the send it in 30 days. Maybe they send it in 45 days. Maybe longer. Better pay attention to that and not extend any credit to late payers.

 

Many ways to get paid.

These are brokered loads,.. posted by brokers.

You call on the load you are interested in. You do your best to negotiate for a higher rate than was posted (If the rate was even posted). You agree to the terms.

If you do not have a carrier packet set up with said broker (Insurance info etc etc) you get that taken care of. Then will come the rate/confirmation. You sign that send it back and viola,.. you are now booked for a load.

Most load board show a D2P number. Thats days to get paid. Some brokers pay in as little as 15 - 20 days. Some offer quick pay for a percentage. Much like factoring. Other can take as long as 60 - 90 days before you get paid.

They pay you either via direct deposit to your bank or by check via US mail. Depends on the broker and how you set things up.

You get paid once you make delivery and get a signed BOL. You send confirmation of the signed BOL to the broker to confirm payment arrangements.

You can also do factoring,.. by which the broker must have a good credit rating. If you booked with a new broker or a broker that has had payment problems in the past,.. no factoring company will give you money because the risk for them to get paid by the broker is too high. The factoring company takes a percentage of the rate and pays you immediately. No wait.

This is how most operate in the spot market world. This is why its recommended that you should have at the very least, 90 days of operating capitol, plus rainy day emergency funds.

Hurst