Freight broker training article directory

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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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