when do you file on a brokers bond?

I give them 2 extra weeks after the deadline. if no check they would have the option of: sending one next business day express mailing, comcheck/tcheck/tch check..etc or a claim on their bond.
if they don't want to give you a check number maybe that's your sign. File quickly!

 

It is going to depend on how well they are communicating with you. My understanding (some please correct me if I'm wrong with a link to the information) is that it is not first filed, first paid until bond is gone. But it is by date of oldest un-paid load of claims. So giving an extra week is not going to make a difference.

I have not had the pleasure of filing on a bond yet but have called the bond company a couple times and that got a check sent. If they have not put the money up and just buying insurance for a grand then bond company will be putting the pressure on them.

We typically call right after everything is sent to make sure they what they need. This has cut out a lot of gaming playing. At that time we get a date that check will be mailed. Couple days after it should have been mailed we are calling for a check #. If it hasn't been mailed then we get into the when, and over night and ...

And despite how unprofessional we may feel they are getting we always stay professional. We won't play games with calling everyday like a silly little girl. If we talk on Monday and they say it will be mailed Wed then we will call Wed for a check #.

Depending on how they are working with us we will then make a decision on if this is just a good company in a bad situation or someone playing games with our money. If the later then fax a letter with intent to file.

Goal is to get paid. If they are like us and have the $10k on deposit, filing on our bond would mean nothing in terms on increase in future insurance premiums. Some immature idiot calling everyday is likely to get put at the bottom of the list and what may have been a 45-day slow pay is now 75-90 days.

 

90% of my customers pay within 15 days and I use ITS to credit check that has been pretty much accurate.

Day 45 from delivery because all documents are faxed from truck day of delivery with oringinals in the mail same day too. The clock is ticking and don't buy that oringinal copies only to start their clock that is only playing with your money you have already earned. Ask them why they don't want oringinals on freight contracts and rate confirmations because they accepted fax copies of those?

Send a letter of intent to file on bond in 24 hours on 44th day unless given Fed-Ex tracking number for check or a comcheck number for payment in full. To many other GOOD Companies to work with than play games with under-capitalized brokers.

From day 30 to day 44, you should be calling at least once a day to check status of payment....sweakest wheel gets greased first.

The 2 times I used the 44th day fax I got results. I also have been written 2 bad checks that is another story on how I got those paid in full with tactics that I will never post on here and yes those tactics are 100% legal as long as you do it the right way.

 

The administrators of the bond or trust account will cancel it if you have multiple valid claims.