As you find out over time, you cannot trust every potential business that you deal with. However far and deep you investigate; some businesses still surprise you as they try to cheat you one way or another. Choosing the best freight brokers is important because you must develop a high level of trust if you are to ensure that your goods are shipped exactly on schedule.
An Impossible Dream?
There are occasions where you may have dealt with the same freight brokers, logistics providers and shippers for years and then something turns sour. They may have developed cash flow problems, which have a follow-on effect for your goods and when finances change hands.
Where you carry out financial investigations into the abilities of the freight brokers or supply chain you use, these actions will need to be repeated regularly over the years. Whatever level of mutual trust and cooperation you have built up, it may evaporate overnight, without you being warned or expecting that anything has turned bad.
Updating the Insurance Certificates
While your brokers may prove their insurance certificate is up-to-date, you should always keep a copy in your files and insist that your copies are updated regularly. You should perform checks with the insurance company to clarify that the certificate remains valid.
A similar process should double check any broker’s surety bond. While you can check this information online, it is perhaps better to perform an extra inspection regularly to confirm that the bond remains valid.
However well the company confirms its necessary data online, an inspection with the operating authority and updated regularly, will ensure that the minimum requirements are always in place, for your benefit.
Keeping deeply involved within the entire transport industry is important so that you are first to hear any whispers about companies involved in your supply chain, before a problem develops.