Posted Date : 2018-05-07 12:44:13
Let us first understand what a load board is. Load boards are online matching systems that allow shippers and freight brokers to post loads. They also allow enable carriers to display their free equipment. With the help of these systems, shippers and carriers will be able to find each other and enter into agreements to move freight.
Most trucking load boards allow you to post and search for loads using different criteria. Additionally, they provide many services for both the freight brokers and the carriers.
Some of the services offered by the boards are:
As the freight board market is extremely competitive are there both paid and free players. Paid services vary depending on the plan. It must be noted that you get what you pay for. That doesn't guarantee that a paid board is better. You must choose what best fits your needs and budget.
Are load boards helpful?
As with many things, there are both benefits and limitations when working with a load board. It can help the new owner-operators and freight brokers who are getting started in the business. However because of a lot of competition the profit margins are thin.
Why are load boards necessary?
One of the most significant challenges of hauling cars is that most shippers and brokers pay freight bills with a delay of 30 to 45 days. However, the car hauler will have to pay or fuel and other expenses while waiting for the payment. This delay can be difficult for if you are starting out.
Finance slow-paying loads
Since you have to wait for payments up to 30 to 60 days and pay your fuel and other expenses financing freight bill programs provides up to 90% of the bill. The funds are paid within a day or two of presenting the freight bill. This funding provides you the means to operate your business and take on new loads. You will receive the remaining 10%, less the fee when the shipper pays the freight bill on their schedule.
Car haulers load board can be a great way to help you start off or when you are growing rapidly. It is an efficient system in which the brokers and freight loaders are connected. It also benefits the customers with reduced prices.