Moving Freight Better Using a Load Board
A load board is an online system whereby a shipper and a freight broker can post loads and match them to the right freight trucks. They are also commonly known as freight boards. An agreement is reached between the shipper and the carrier via the online system. The load boards can be used by the carrier to post information regarding their free equipment. The load boarded are dated back to the start of the twenty first century.
Because of their complexity, a number of criteria is used for one to be able to post and search in the load board.The shippers and freight brokers use criteria like the load location, weight of the load, destination of the load and the truck type in the load boards.Some of the services available in freight or load boards include financing of pre-loads, mobile accessibility, credit information or the number of days to be paid, ability to make notes on load carriers or shippers and so on. 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 new comers in the highly competitive truck loading industry get a good starting point from the free load boards. The are three groups that categorize the load boards depending on the time limit and the cargoThe load board categories are general freight, live bid board system and urgent.
For the independent truckers and small companies, there is the freight factoring.Freight factoring is an easier way that allows a load carrier to get paid for their service immediately they are done with delivering.The handling of the invoices can be done by the factoring company hired by the small companies or the independent truck driver. They usually charge a little fee for the services but the rest of the money is paid up front after delivering the load. 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. The load boards have special services like cross border freight and interstate freights. Many truck owners whether individuals or businesses use the load boards to obtain any load information that matches their description.