In order to do a broker check you will need to go to Carrier Dashboard and login (it is not available on the mobile app). You then need to go to the "Factoring" Tab and click on "Credit Check".
Then, you will be directed to enter the Broker or Shipper information.
You can enter the company's MC# or DOT# in the first window or enter the company's Name and State . Once that information is entered then select search.
Second, select the broker that matches your rate confirmation or load board then select "View Details". (Try matching MC# and or addresses)
We give you the ability to see the broker's risk score. They will be shown on the right hand side of the screen. If the risk score is below 85 we recommend that you get approval from your Customer Success Manager (CSM) prior to accepting the load. If the risk score is under 70 send an email to credit at credit@bridgehaul.com.
Lastly, select "Request Connection"
a. 0-69 = High Risk
b. 70-86 = Medium Risk
c. 87-100 = Low Risk
Low Risk Broker: 85>
High Risk Broker: 69<
Please consult with your Customer Success Manager prior to accepting a load in the High and Medium Risk ranges!! If you do accept a load, it is at your own risk. BridgeHaul cannot guarantee that we'll be able to purchase all invoices. Please be prepared to bill the broker directly.
Credit Metrics
Debtor Must Haves:
- Broker must have authority for at least 9 months.
- Not apart of known fraudulent behavior cities, example: Los Angeles, Las Vegas, etc.
- Has Surety Bond Insurance. (Not always required)
- Has Current A/R Balance.
Average Days to Pay is important. Any broker that takes more than 45 days to pay is sometimes considered high risk and isn't an ideal broker with BridgeHaul. Please accept loads from brokers in the High risk range at your own risk.
a. Less that 30 Days = Low Risk
b. 30-45 Days = Medium Risk
c. 45+ Days = High Risk
If a broker takes over 60 days to pay an invoice, the client maybe charged additional fees.