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FAQ
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Do I have to enter into a long-term contract with Retro Logistics?Nope. We book loads per your request and invoice you for completed loads on a weekly basis. You ever want us to stop booking loads simply say so.
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What will Retro Logistics services do for my business?We free up more time for you. Most owner/operators just want to get from Point A to Point B but find themselves dealing with a lot of back end paperwork per load, not to mention the negotiations with brokers. By us taking care of those negotiations and paperwork we bring efficiency to your business. Allowing you to book more loads in the long run. Picture waking up to having a schedule of where you're headed without having to get on the phone with anyone.
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How do I sign up & what do I need?Signing up is easier than you think. First, You sign our carrier agreement. This document clearly sets out our responsibilities and expectations. It's to protect us both. But don't worry it is NOT a long-term contract with legal gibberish. Next, You will send back the signed agreement along with a copy of: MC Authority NOA (Of your factoring Co.) Insurance Certificate with Company Name & Phone Number Signed W-9 Factoring Company Name and Phone Number
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Do I need my own MC Authority?Yes, we only work with owner/operators working under their own MC Authority.
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Will you work with me if I'm new to the industry?Absolutely! We strive to help truck drivers in all stages of their careers. We look for motivated, hard working drivers, bottom line. Realistically, if you are a new carrier, it may initially be harder for us to find you the best loads because most shippers & brokers prefer carriers with MC Authorities more than 6 months to a year old. But rest assured we won't give up finding you loads. Once you hit the one year milestone, access to better rates and loads will be easier to book.
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What is a Factoring Company?A factoring company is a third party financial institution that purchases the carriers invoice for a completed load. They then pay the carrier on most cases the very next day minus a small fee. Once the load is completed we send the factoring company the invoice along with the necessary documents to provide proof that the load was indeed completed that way you can get paid as quickly as possible. It is then up to the factoring company to wait on the broker to pay them for the invoice. The best part is you're not held liable if the broker takes longer or doesn't pay the invoice.
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Do I have to sign up with a factoring company?Yes. It is standard for brokers to take 20-30 days to pay the carrier for a completed load. It would make things more difficult to leave an invoice open for 20-30 days and track to make sure they are paid.
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How much does Retro Logistics charge?We believe in total transparency, which is why we're not afraid to put our prices on our website. We are confident in what we do and are here to help. For loads on Dry Vans, Reefers, Flatbeds, and Power Only equipment types we charge 7% of the rate listed on the rate confirmation sheet. We are currently not booking loads for Straight Trucks & Hotshots. If you are needing assistance getting set up with a factoring company or updating MC Authority/Business information, we charge a small fee for those instances. Are you new to the industry and need help applying for your MC Authority? We would love to help. These services fall under a different umbrella which means we invoice separately for them.
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How much does it cost to sign up?It costs you nothing to sign up! The consult call and handling our paperwork to get set up is absolutely FREE. We only invoice you on a weekly basis for completed loads. With that said, if you're needing administrative help such as but not limited to: updating MC Authority, FMCSA Requirement, or getting set up with a Factoring company we would invoice you separately for those instances.
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