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TABLE OF CONTENTS SECTION 1 1.1 Introduction - What exactly is a Freight Broker? - What does a freight broker do? - Technological Advantages - What to expect from our material 1.2 Basic Tool Requirements - Office Tools and Equipment - Internet Load Board Services - Mileage Software - Freight Broker Software 1.3 Freight Broker Basics - Freight Agent Liability - Freight Broker Liability - Funding and Accountability - Working Capital 1.4 Freight Broker vs. Freight Agent - Freight Agents Role - Freight Brokers Role - Freight Broker / Carrier Combination - Parent Broker Considerations - Exclusive Agency - Freight Agent Compensation - Creative Concepts - Freight Broker Directories 1.5 Transportation Regulatory Bodies - Federal Regulatory Agencies - Who You Answer To - A Look into the Past 1.6 Code of Federal Regulations - Code of Federal Regulations (CFR) - Why do we need the CFR? - Elements of the CFR - List of Regulation Titles - How to Navigate the CFR 1.7 Freight Broker Authority - What is Authority? - Why do I need Authority? - Types of Authority - Freight Forwarding - Broker Authority Requirements - What is the Bond Requirement? - What is a Process Agent? - What is a Form BOC-3? - Application for Authority - What to expect after you apply 1.8 Surety Bond vs. Trust Fund - Surety Bond - Trust Fund - The Difference? - How does a Surety Bond work? - Why do I need a bond? - Surety Bond vs. Trust Fund - How much does a Surety Bond cost? - Where can I get a Bond? - Where can I get a Trust Fund? - Creative alternatives for securing a trust fund - Inviting a partner - Equity Resources - Forms to show evidence of security 1.9 Freight Broker Start-up Assessment - The Surety Bond - Freight Broker Authority - Process Agents - Insurance - Load Boards - Freight Broker Software - Carrier Monitoring SECTION 2 2.1 Transportation Infrastructure - Unimodal Transportation - Intermodal Transportation - History of Intermodal Transportation - The State of Shipping Today - Universal Handling Equipment - Most Common Material Handling Equipment - Common Intermodal Methods - Advantages of Intermodal Transportation - Intermodal Logistics - Equipment Challenges - Security Issues - The Intermodal Supply Chain 2.2 Shipping Documents - Bill of Lading - Freight Bill - Delivery Receipt - Intermodal Shipping Terms - INCOTERMS 2.3 LTL - Less Than Truckload - Basic LTL Freight Operations - Basic FTL Freight Operations - The LTL Business Model - Why Use LTL Freight? - Combining FTL And LTL - Advantages of Shipping LTL - LTL and Parcel Carrier similarities - Combining LTL and Parcel Carriers - Preparing Shipments For LTL Carriers - LTL Business Factors - Intermodal LTL Shipments 2.4 3PL - Third Party Logistics - Types of 3PL providers - 3PL Contract Agreements - Advantages/Disadvantages of 3PL - Fourth Party Logistics (4PL) 2.5 Freight Classifications - Who Uses Freight Classification? - Freight Classification Systems - National Motor Freight Classification - What is a SCAC code? - What is a SPLC code? 2.6 Freight Mover Tariffs - The History of Freight Tariffs - Freight Tariffs - Then and Now - Who are tariffs designed to protect? - The Anatomy of a Freight Mover Tariff - When and how tariffs should be used SECTION 3 3.1 Customer Acquisition - Customer Acquisition Tactics - Acknowledging Freight Requirements - Recognizing Freight Channels - Use Your Resources - Finders Fee - The Internet - Shipper Database Leads - Direct Mail Leads - Online Freight Business Leads - Backhaul Marketing 3.2 Establishing Freight Rates - Understanding Freight Regions - Freight Traffic Lanes - Rate Variables - Unfriendly Freight Rates - Carrier's Viewpoint on Unfavorable Rates 3.3 Motor Carrier Expenses - Carrier Expense Overview - Linehaul Rates - Basic Carrier Expenses - Dead-head Miles 3.4 Negotiating Freight Rates - Rate Proposal - Load Requirements - Volume Rates - Shipper/Carrier Objectives - Prepayment Method - Additional Charges 3.5 Dispatch Procedures - Dispatch Forms and Contract Overview - Finding qualified Motor Carriers - Dispatching: Posting Loads - Pre-Planning: Motor Carriers - Motor Carrier Snapshot/Safety Rating - Load Rate Confirmation - Dispatching Motor Carriers - Carrier/Driver Check Calls - Dispatch Cancellations - Working with Time Zones - Customer Freight Inquiries - Pre-Planning - Step-By-Step Check List - Skipping Dispatch Procedures - Manual Record Keeping 3.6 Fuel Surcharge - Regional/National Fuel Prices - Surcharge/Rate Confirmation 3.7 Freight Broker Factoring - Standard Invoice Flow - Working Capital - How it works - Invoice Flow for Factoring Receivables - Recourse/Non-Recourse Factoring - Recovering Factoring Fees - Uniform Commercial Code (UCC) Filing 3.8 Moving Money - Electronic Payment Systems - Payment Codes - Express Code Payments - Automated Clearing House (ACH) Transactions - Credit Card Merchant Accounts - Credit Card Processing - Point of Sale Terminal vs. Virtual Terminal - Credit Card Validation Value - Freight Agent Payment Methods - Payment Cards for Factoring Receivables - Recovering Fees 3.9 Credit Ratings - Agent/Broker Relationship - Customer/Freight Broker Credit Ratings - Extending Credit - D&B DUNS Number - Business Credit Inquiries - Checking References - Large Customer Accounts SECTION 4 4.1 Double Brokering - Standard Brokering/Double Brokering - Is Double Brokering Freight Legal? - How Is Double Brokering Employed? - Double Brokering Workflow - Setbacks of Double Brokering Freight - Other Risks Associated With Double Brokering - Back-end Solicitation Violations - Co-Brokering / Cross Border Brokering - Co-Brokering Workflow - How To Protect Yourself From Double Brokering 4.2 Booking Double Loads - Recognizing a Double Load - Double Load Considerations - Negotiating Double Loads - Invoice System To Distinguish Load Type 4.3 Lumpers - Freight Delivery Requirements - Calculating Lumper Rates 4.4 Brokering Automotive Transport - Transit Considerations - Length vs. Weight - Dealer Auctions - Open vs. Enclosed Trailer - Stops vs. No Stops - Transit time - Secured Auto Shipping Policy - Vehicle Inspection 4.5 Hundredweight - CWT - Carrier Viewpoint on CWT - Calculating Hundredweight 4.6 Dump Truck Brokering - Contracting vs. Brokering - General Contractors - State Contracts - By the Ton/Hour/Job - Calculating Weight and Distance - Weather Conditions - Types of Dump Trucks - Double your money on Backhauls - Converting Load Rates to Hourly Rates - Steel Beds vs. Composite and Aluminum Beds - Collecting Funds 4.7 Hazardous Materials - HAZMAT Classes and Subclasses - Motor Carrier Safety Certification - Dispatching - Carrier Insurance - Driver Certification and Training - Restricted Routes - Hazardous Material Regulations 4.8 Oversized Loads - Trailer Applications, Capacities and Dimensions - Temporary Permits - Commercial Vehicle Escorts - Over Height Loads - Heavy Hauling and Oversize Load Estimates - Oversized Load Mediation - Eliminate Financial Recourse - Determining OD Rates - Loading Day: Real Life Scenarios 4.9 Military Freight - Military Transportation Infrastructure - Doing Business with the Department of Defense - Military Freight Bid List - Backend Markets - Basic Terminology and Abbreviations - Military Freight Registration Requirements - Registration Details SECTION 5 5.1 Carrier Insurance vs. Freight Broker Bond - Broker Indemnity - Freight Forwarders - Motor Carrier Insurance - Types of Motor Carrier Coverage 5.2 Freight Broker Insurance - Types of Freight Broker Insurance - What about my surety bond? - Why should I be insured if it is not legally required? - How Do I Know if a Carrier Has Allowed his Policy to Lapse? 5.3 Freight Claims - Driver/Carrier Claim Responsibilities - Freight Broker's Claim Responsibilities - Types of Freight Claims - How Most Freight Claims Occur - Consignee Options For Addressing Damaged Freight - Who Files the Claim? - Understanding the Terms - What constitutes a freight claim and how are they filed? - Claim Details - Freight Claim Tracking & Investigation 5.4 Freight Broker Software - Web Based Software - Determine Your Requirements - Recommended Resources for Remote Web-based Services - Recommended Resources for Local Software Applications - Software Application Server - Automating Insurance Inquiries and Expiration Notifications - Automated Programming Integration (API) - API Data Flow - Simple Object Access Protocol (SOAP) - Electronic Data Interchange (EDI) 5.5 Freight Broker Software Reporting & Analysis - Financial Reports - Regional Sales - Load Type Reporting - Cross Comparison SECTION 6 6.1 Tax Planning - Freight Brokerage Start-up Considerations - Employer Identification Number (EIN) - How to Obtain a Federal Tax ID Number - Employees vs. Contractors - Year End Taxes - Self-employment Taxes - Estimated Tax Payments - Tax Deductions - Special Tax Deductions - Automobile Deductions - Retirement Contributions - Forms 1099 - Income - Forms 1099 - Expenses - Corporate Tax Options - Leverage Your Tax Savings 6.2 Incorporate vs. LLC - Examining the Corporate Concept - Articles of Incorporation - Corporate Officers - Advantages/Disadvantages of Incorporating - Double Taxation - Accumulated Income Tax - What is an "S Corporation?" - What is an LLC? - Where should I start? 6.3 Principles of Accounting I - Understanding Assets and Liabilities - What are Assets/Liabilities? - How Assets and Liabilities are Related - Assets, Liabilities and the Balance Sheet - The Purpose of a Balance Sheet - Owner's Equity - Accounts Payable 6.4 Principles of Accounting II - Income Statements - Cash Flow Statements - Depreciation Schedules - Amortization - Year-End Accounting Procedures 6.5 IRA - Three Reasons to Invest in an IRA - Traditional IRA - Roth IRA - IRA vs. Roth IRA - Recommended Resource 6.6 Freight Agent Acquisition & Networking - Setbacks of Flying Solo - Multiply your efforts with Independent Freight Agents - The Freight Broker/Agent Agreement - Expanding: The Financial Picture
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