Freight Broker Industry Training Guide
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Brokerage
As an agent you have less risk than as an owner of a brokerage. As an agent you are responsible for building your own customer base. You must obtain your own freight, cover your loads, and fax necessary paperwork to your brokerage’s main office.
As an owner you are responsible for all back office operations, authorities, bonds, insurances, collections, payroll, etc. Also, as an owner of a brokerage you must have an initial line of credit. This line of credit is to pay carriers for the loads they have hauled. This happens because most customers do not pay for 30-60 days and to maintain a good credit rating as a broker you should pay carriers in 25 days or less. This, in turn, results in you having to come out of pocket to pay carriers before you are paid by the shipper. This can add up rather quickly. If you move 10 loads a day at 00 per
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