Credit Stop Broker
Unpacking Days-to-Pay and Broker Credit Ratings
Cash flow drives your business. So you need to know the brokers you work with have both good credit ratings and days-to-pay numbers. Check out the video to learn how to find the right brokers for your business!
Credit Stop Broker is Truckstop.com’s number one selling value-add service for carriers. This training will present the key features and benefits of this solution.
Credit Stop Broker helps you determine which partners to do business with. You will have unlimited access to the vast broker credit database, real time Days-to-Pay and Experience Factor Credit Ratings. As well as direct access to FMSCA for verification of authority, insurance, and bonding information.
Credit Stop Broker can be accessed in two ways:
- From the “My Products” tab across the toolbar then choose “CreditStop Broker”
- Directly from the searching grid by clicking on a hyperlink under the “D2P” Column
Once you have reached the CreditStop Broker page you will see the company information, the average days to pay of the brokerage company as well as the experience factor.
The average Days-to-Pay will appear in red numbers. If an asterisk is next to this number there is a collection or non-payment complaint against the company. You can see the source of this complaint, the number of complaints and the total value of the complaints. A trend chart of the Days-to-Pay is also available to users.
The experience factor is shown in a red letter. This rating is based on several things including: payment trend, time in business, financial strength, and collection activity.
Within CreditStop Broker is also information on the brokerages insurance, authority, FMCSA updates, etc.
To receive notifications on changes of brokerage companies a watch list can be activated. This is a popular feature for carriers that haul on a routine basis for various brokerages and want to proactively monitor any changes.