Simplifying the Process of Moving Freight Across
The load board is an online system that allows freight truckers to be able to see the information posted by shippers and freight brokers regarding available loads for transport. Freight boards are also used to refer to the load boards. An agreement is reached between the shipper and the carrier via the online system. The carrier can also be able to post information of their free equipment on the load board. The load boards were started at the early twenty first century and have grown rapidly.
Most of the load boards are complicated and it requires a number of criteria to be able to search and post in them.The truck type, the location of the load, the destination of the load and the weight of the load are some of the criteria used by shippers and freight brokers in the load boards.The following services are offered in load or freight boards; pre-loads financing, ability to make notes to shippers and load carriers, number of days to be paid or the credit information and also mobile access. When the information of the shipper and the freight brokers matching relation to the carrier details, the load boards will notify the carrier via text message the full information of the load and the phone number of the shipper or freight broker.
The are numerous load boards and can either their services for free or some have to paid.The free load board is less sophisticated that the paid one, thus easier for new freight brokers and load carriers to use.The free load board is a good starting point for the new comers in the truck loading industry although the competition is very high. The are three groups that categorize the load boards depending on the time limit and the cargoThe live bid board system, the urgent and the general freight are the categories of the load boards.
Freight factoring can be used by the independent truckers and small companies.After delivering the load, the carrier can be paid immediately for the service through a process called freight factoring.The handling of the invoices can be done by the factoring company hired by the small companies or the independent truck driver. A little service fee is charged but the rest of the cash is paid up front upon completion of the delivery. The bidding in the load boards is done by the factoring companies on behalf of their clients the independent truckers and small companies.
Other than the disadvantage of having a lot of competition in the market, the load boards profit margins are very slim. There are still lots of benefits of using the load boards because some of them offer special services like crossing border freights and interstate freights. Many truck owners whether individuals or businesses use the load boards to obtain any load information that matches their description.