TypeOnline Course
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This course is for anyone interested in becoming a Freight Broker, unless you plan to just become a Freight Broker Agent you need to be licensed. This requires filing legal documents and getting bonded. Students learn what is involved in setting up a freight brokerage business and getting a freight broker’s license (Authority from the Federal Motor Carrier Safety Administration). Everything is broken down into a step by step process. Students are introduced to the role of brokers in the freight industry and the daily tasks that freight brokers perform, such as calculating rates, negotiating, billing, and tracking loads. Students also learn about the paperwork and documentation used when dealing with shippers and carriers. This course offers students opportunities to work personally with prospective clients. Practice prospecting for shippers, setting rates, and schedule loads. Students also gain an understanding of how to model the freight market and make business decisions accordingly. This class covers everything freight brokers need to know for running a successful business; including material handling, customer service, inventory tracking and product return. Other elements of freight management operations, such as obtaining a license and filling out the necessary paperwork for national and international runs, are also covered. This freight broker training class addresses issues involving insurance and claims filed against the company that could negatively affect business. Students learn the importance of keeping an accurate accounting of insurance information and having that information backed up in case a delivery is late or a claim is filed. Freight Broker Forms and Contracts are included.

As a broker you will be able to hire agents to work under your license and collect a portion of their profits. With our Premium Freight Brokerage Training Package we will train you, any new agents that you bring on, those agents again with our sales training course, and if you are interested in having trucks of your own we will train your dispatchers too.

To avoid mistakes we suggest that you purchase this course before you start applying for your authority.

Time: 7 hours of video content, usually takes about one week to complete.

Students Receive Course Completion Certificate for achieving >90% on the final quiz/test.

Table of Contents

I) The Structure of your Brokerage

  • Managing a Brokerage
  • Effectively Using Agents
  • Other Staff to Consider
  • Setting up shop in your Home or Office
  • Simple Software Administration
  • Strategies for Staying Organized

II) Legal Requirements and Guidelines

  • Accounting Rules and Record Keeping
  • Misrepresentation
  • Rebating and Compensation
  • The D.O.T. (Department of Transportation)
  • The FMCSA (Federal Motor Carrier Safety Administration
  • Operating Authority & MC Numbers
  • Insurance Policies
  • The $75,000 Bond
  • Obtaining your Process Agent
  • Setting up a Business Checking Account
  • Legal Steps *Checklist* for Starting your Brokerage

III) Setup Packets

  • How to Read the Paperwork and Contracts
  • Setting up Customers
  • Setting up Carriers
  • References and Credit Checks

IV) Moving a Load – From Start to Finish

  • Accepting the Load
  • Selling the Load
  • Booking the Right Truck
  • How to Read any Rate Confirmation
  • Building the Rate Confirmation
  • Setting Appointments
  • Dispatching Drivers
  • Making Check Calls
  • Preparing-For and Dealing-With Errors of a Load
  • Consignor and Consignee Procedures
  • Handling Insurance Claims

V) Carriers

  • Pre-qualifying Carriers
  • Checking Safety Ratings
  • Communicating with Dispatchers and Drivers
  • Working with Owner Operators
  • Reasonable Compensation
  • Accessorial Charges
  • Intermodal Capacity

VI) Cash Flow

  • Extending Credit to Shippers
  • Developing Good Business Credit
  • Paying your Carriers
    • Quick Pay Policies
    • Fuel Advances
    • COMdata codes & T-Checks
  • Agent Commissions
  • Consequences (Process) for Brokers who don’t pay

VII) Factoring Companies

  • Pros and Cons of Factoring your Bills
  • Choosing a Factoring Company
  • Types of Factoring
    • Confidential Invoice Factoring
    • Recourse Factoring
    • Non-Recourse Factoring

VIII) Dispatch and Software Tools

  • Choosing a Company Database

XI) Making Money

  • Finding Freight
  • Helping Transportation Managers
  • Rate Negotiation Tactics
  • Customer Service
  • Competition

XII) Niche Markets

  • The Types of Equipment
  • Commodities to Transport
  • Heavy Haul & Over Dimensional Freight
  • LTL
  • HAZMAT (Hazardous Material) Guide

XIII) Finding More Carrying Capacity

  • Effectively Utilizing Load Boards
  • Load Board Walkthroughs
  • Your Company’s Database – Creating Efficience
  • Networking Tools and Strategies

XIV) Establishing Freight Rates

  • Calculating Rates
  • Minimum Day Rate Charges
  • Quoting and Bidding ‘Lanes’
  • Rate Matrices
  • R.F.P.’s
  • Analyzing Market Trends
  • Finding Accurate Market Data and Info
  • Seasonal Rate Fluctuations
  • Dedicated Lanes
  • Circular Lanes

XV) Double Brokering

  • Your Legal Rights
  • Managing Liability
  • Actions to Take as a Victim
  • Preventing and Confronting Back Solicitation

XVI) Working with Ports of the United States, Canada, and Mexico

  • Customs (International Shipping)
  • TWIC Cards

XVII) Military Freight

  • Legal Requirements
  • Getting Paid

XVIII) Day to Day Business

  • Your Daily Routine
  • Overcoming Challenges

XIX) Setting up your Company Website

XX) Vocabulary & Terminology

XXI) Business Plan Outline