Have operating authority (MC#)
Meet liability and cargo insurance limits and deductibles set by the Exchange
Verify same
Have safety rating assigned by DOT
Meet the on-time pick up and delivery criteria set by the Exchange
Have a track record with a minimum amount of time with their Exchange sponsor
Contract with Exchange on payment of fees and accuracy of information
Furnish a W-9 for settlement
Internet access and competence
(At last count, more than 75% of all trucking companies in the United States now have Internet access. Nearly 30% of drivers have Internet access and laptop computers. This is one of the fastest growing groups of users in transportation.)
Carrier incentive to participate
- Fast pay - 3 to 5 days
- In 1999, tight capacity, high driver turnover and the deteriorating financial condition of many carriers have raised significant concerns about the long term outlook for the industry.
- The year 2000 brought new concerns for carriers with the cost of diesel fuel and the huge increases in insurance cost. That year, the number of carrier bankruptcies tripled those in the year before.
- Impact of the Internet may wind up being the ultimate concern of carriers in 2001. The number of load auctions on the Internet is increasing competition for core carrier operations and relationships, making it more important than ever for carriers to maximize their operating efficiencies. Participation by carriers could increase volume and directly affect carrier profits.
- The TIExchange might very well be the piece that puts brokers on a par with shippers as carrier customers.
- A collaborative business arrangement among brokers could give the economies of operating scale, efficiency and buying power they need, without giving up the independence and value of existing carrier structures or the direct relations that brokers have with customers today.