LEARN 12 SECRET STEPS HOW TO MAKE $950 MORE PER TRUCK / MONTH
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Get required paperwork – freight brokers are required to keep records of each transaction. FMCSA is specific of the documentation which includes bill of lading, contracts, receivables, payables, carrier qualifications…
- the name and address of the consignor (shipper)
- the name, address and registration number of the originating motor carrier
- the bill of lading or freight bill number
- the amount of compensation received by the broker for the brokerage service performed and the name of the payer
- a description of any non brokerage service performed in connection with each shipment or other activity
- the amount of compensation received for the service, and the name of the payer
- the amount of any freight charges collected by the broker and the date of payment to the carrier
- brokers shall keep the records required by this section for a period of three years.
- each party to a brokered transaction has the right to review the record of the transaction required to be kept by these rules.
Freight broker’s income
Freight brokering is a lucrative industry, freight broker salaries depends of their employers, but however range is from $60,000 to $90,000 annually, which is great if we compare US national median range for salaries $30,000 to 50,000.
Source: www.eft.com
Commission varies between 5-11 percent of the shipping charges or higher. For the freight brokers with own business this is the gross revenue and out of this amount they are paying taxes, payroll, rent, sales commission.
Freight brokering in 2015
Freight brokers have one of the most important roles of the transportation of goods. Every year demand for transport increases, in 2015 in the trucking industry it is registered 3% more revenue, compared to 2014.
