Fleet Management News & Business Info | Commercial Carrier Journal
Issue link: http://read.dmtmag.com/i/675319
DON'T BE THE NEXT VICTIM OF A STOLEN IDENTITY SCAM FRAUD & SCAMS BY SONNY SMITH, DIRECTOR OF ASSURANCE SERVICES consider utilizing a reputable non-recourse factoring company to guarantee payment, even when the broker fails to pay the factor. IF IT SOUNDS TOO GOOD TO BE TRUE, IT PROBABLY IS Carriers should thoroughly scrutinize rates that seem elevated. Look closely at other loads in the same lanes for comparison. Consider utilizing Truckstop.com's RateMate service for the most accurate, up to date and effective rate comparison tool available in the market today. READ THE SMALL PRINT Always read all Broker/Carrier Agreements and Rate Confirmations thoroughly. Pay particular attention to any mention of deductions or other verbiage which might prevent you from exercising your right to compensation based on established industry standards. Truck Ordered Not Used and Detention Pay are two common examples. When there are terms in the Agreements that do not meet with your approval, cross them out or modify the terms and initial your changes before signing and returning the contracts. T ruckstop.com receives daily notifications via email from carriers reporting that they have hauled loads believed to be legitimate, only to later realize they have fallen victim to one of the many rapidly growing stolen identity scams. Suddenly the reality sets in that they are not going to be paid for services rendered. Some are financially stable enough to absorb the cost of hauling an occasional load for free, but many are not. Below are a few important precautionary measures for carriers to consider and that can help avoid becoming a victim of a complicated identity the scam. is is not a fix-all for every situation, but rather a guide to assist carriers in making wise decisions when vetting those they choose to haul for. USE CAUTION WHEN TAKING LOADS FROM STRANGERS Avoid jumping into new business relationships without conducting an adequate level of due-diligence. Now more than ever it is important that you have a formal vetting process in place for potential new business partners. Do your homework by researching their payment history and their history with the FMCSA & SAFER. Perform an internet search if you are unsure. Truckstop.com has developed several useful tools to help carriers make good business decisions about the brokers and shippers they haul for. If you are not already a CreditStop subscriber, give us a call to learn more about this "must have" service for carriers. Likewise, CACCI/CPR is the leading carrier vetting tool for brokers and shippers. REVIEW BROKER AND SHIPPER CREDIT WORTHINESS & PERFORMANCE RATINGS While you won't be asking a broker or shipper for a copy of their most recent tax return, it is important to know their average days-to-pay scores and if there are any performance issues or other patterns of concern. With CreditStop activated on your Truckstop.com account you can review average days-to-pay information and see if there are any outstanding non-payment or performance issues. CreditStop also provides proactive monitoring of the brokers and shippers you use on a routine bases. Carriers should also 14 IT MAGAZINE Vo l . 1 0 , N o . 3