Insider Secrets to Successful Freight Brokering

What is Your Freight Broker Authority & How Much Does It Cost?

You will find some training programs offering the freight broker athority for $450. This is misleading. It may not include the UCR permit that is required. And, for sure, it does not include the cost of the trust fund.

Through my training, a freight broker will get their MC#, the BOC-3 and the UCR for about $400.

The trust fund depends upon which program a freight broker qualifies for. If the broker puts up their own $10K, the cost will run $550 per year. If the broker has good credit, the cost would run $950 per year.

What if you don't have $10K laying around and what if you don't have good credit?

There are other programs available that will require a deposit, perhaps, plus monthly installments where you can build your own trust fund over time.

So, do not overlook the installment method if this is your only option.

Through me, your total cost for your broker authority including the trust fund would run about $1,350 if you have good credit.

Be careful here! Some vendors are charging well over $100 for the BOC-3 and you get it through me for $24.50.

Questions? Call me at 1-888-526-ATEX (2839).

Canadian Freight Brokers

Live and work in Canada? Want to become a freight broker? It is relatively easy.

Here is what you need:

Your Broker Authority to include,

1. Your Motor Carrier number - $300
2. Evidence of a trust fund or surety bond (put up your own $10K or have my affiliate put up the $10K for you and pay $950 per year plus $250 per year to build your own trust fund,
3. Your BOC-3 - about $25,

That's it.

You can move cargo into and out of Canada but not from Point A to Point B in the USA. You do NOT need a USA based company. Start brokering in about 30 days or less.

Call now to get started: 1-888-526-ATEX (2839). John will answer.

Freight Broker Trust Fund

Normally, getting a freight broker authority is quite simple and fast. The one area where there might be any hangup is in showing evidence of the $10,000 trust fund or surety bond.

Now, some individuals put up their own $10K in which case, there is no credit check. But if you are looking for a financial organization to put up the $10K for you, you need to have "very good" credit. Otherwise, you may be making a deposit and paying in so much per month to build your own trust fund.

Here is the thing: if you are being subjected to a credit check, the financial organization will look to an individual and not to the business entity. The individual should be working in the freight broker company and could be either the sole proprietor or an officer of a corporation.

There are some other angles and if you have questions, give me a call at 1-888-526-ATEX (2839).

Freight Broker Authority & Training

It all sort of dove tails together. The training usually takes at least three weeks but more likely four. And sometimes much longer if that is what the client wants.

At the end of four weeks or so, the freight broker will receive his or her "grant letter" from the Federal Motor Carrier Safety Administration (FMCSA). This letter is the formal letter granting authority to operate as a freight broker. This means that the motor carrier number has been received, the trust fund is in place and the BOC-3 has been obtained as well.

With this grant letter, the freight broker will make two photocopies - one for the shipper set up package, and one for the carrier set up package.

And that is it. You are good to go. There is no other business that is easier to get started in and, yet, no other business that can be so deceiving. You have to know what you are doing despite its seemingly simple concept.

What Does It Take to Get Your Broker Authority?

There is a lot of confusion surrounding what it takes to get one's broker authority. In most cases, it is a snap IF you know where to go, etc. And the process to get started only takes about 20-30- minutes over the phone with us.

Here is what you need for your broker authority:

1. a Motor Carrier Number,
2. Evidence of a $10K surety bond or trust fund,
3. the BOC-3, and
4. the UCR

Let us look at each one:

1. Motor carrier number - No you cannot use your trucking company's MC#. You need a separate MC# for your freight broker business, The application only takes about 10 minutes if you know what you are doing.

2. Your surety bond or trust fund - if you have good credit, you may choose to have a financial institution put up the $10K for you. If you have your own $10K to put into a trust fund, this is okay too. For those with poor credit or no credit, there are other programs available but it will involve paying a deposit and about $500 per month to build your own trust fund.

3. The BOC-3 - this gives you legal representation in all 48 states. It is a no-brainer but some third party vendors are charging unjustified fees for this. Watch out.

4. The UCR - this is relatively new and, if you go directly to the government website, you will end up paying less than going through a third party.

That is it. There are no background or criminal checks. There are not tests. We get you started on each of these over the telephone and Internet. The whole process can be quite simple as we work with you on these requirements.

The entire cost on this can be less than $1,500 if you have good credit. This assumes you do not go through a third party that will charge you additional fees. The application process as described here is included in our training fee.

Freight Broker Training: Watch Out for Registration Fees

When I started brokering and looking for information on exactly what I needed and how much it was going to cost, I was completely ignorant. There was not much information around and I had to dig and dig.

One thing I do know after all these years is that there are more and more people offering "freight broker training". That's okay - BUT it really irks me to see some "low" come-on prices for some instruction and then you get hit with some very highly padded charges on your registrations. But you don't know they are being padded.

This just ain't right!

If you are paying more than $39.00 for you UCR registration, for example, you are probably being duped AND you are probably paying padded fees for other registrations as well.

In our freight broker training, you will pay for your registrations yourself BUT we will take you directly to the sources where you are paying the normal charges instead of inflated charges.

If you have good credit you should be paying less than $1,330.00 for your

• motor carrier number,
• your Process Permit (BOC-3),
• your UCR registration and
• your first year of your trust fund.

That's it!

Freight Broker Licenses, Etc.

It's is always confusing when a client shops around for getting certain licensing whether it is for freight brokering or any other type of business license. If you don't go directly to the governmental body to obtain your licenses, you are at the mercy of third parties assessing all sort of fees. Let's look at it a little closer.