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Collaborative Partnerships

Collaborative Partnerships

Transport Financial Services (TFS) offers solutions to the industry’s logistical challenges through “Collaborative Partnerships”, entailing a single location for transportation services provided by the only BMC-85 Trust provider able to refer BMC-84’, and all transportation services for full compliance with all Federal Motor Carrier Safety Administration (FMCSA) Regulations.  Essentially, such a 24/7 commitment facilitated by mobile devices provides immediate access to a network of transportation professionals.  Obtain and Retain authority for carriers, brokers, and freight forwarders through our automated E-commerce program.  Start a business, and learn from “Experts”.

Furthermore, TFS manages the complexities of the transportation industry with cutting edge technology, improving customer service to nurture both foreign and domestic markets, thereby enabling development of training certification for “Today’s Broker”, as well as services for the most important commodity in this vast industry, the motor carriers, including funding requirements (factoring). All found in the business platform located at www.eTruckBook.com.

More particularly, TFS Shopping Mall’s Transportation Directory is a yellow- pages for easy access to locate shippers, brokers, and bona-fide carriers.  Shop 24/7 at www.TFSMall.com, a Central location with timely information for better management of logistic operations. This is an excellent tool for factoring companies assuring that carriers never over- extend themselves, and does not provide service to non-solvent brokers, thus keeping honest people honest.  A great example of that is the new “Cancellation Policy” proposed by TFS and implemented by the FMCSA and DOT to identify in bold red letters, “This Entity is pending Cancellation” which prevent shippers from providing loads to brokers, and carriers from accepting loads, saving approximately billion of dollars in claims.

Significantly, TFS prides itself in same-day-delivery of most services, unless additional information is required.  TFS assist carriers to meet the significant compliance requirement of Electronic Logging Device (ELD) imposed by the federal government, and is ready to answer the hard questions on:

  • Cutting Transportation Cost;
  • Technical Strategy and Implementation;
  • Expanding Sourcing from New Markets; and
  • Development of the most innovative concepts of the 21st Century; not to mention

From 3PL Transportation Management, Consultation, and government contracts the ability to contact real transportation professionals with a well- deserved reputation of providing all of the tools required to be successful in a logistics operation. Always a live agent, and by the way go to www.eTruckBook.com for all the latest in transportation, careers, products, and services.

Corporate office opens daily from 8:00 a.m. to 5:00 p.m., Central Time at 850. 433.2294 now!

TFS never closes!

 

Marold O. Studesville

 

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Forming a Company – 3 of 5 in Starting a Logistics Operation

Companies that plan revenue opportunities that may exceed a million dollars in annual should consult an attorney,  and  a competent Certified Public Accountant (CPA).  A corporate structure is a must for motor carrier (trucking) from medium and up. There are numerous classification of corporation, so an attorney or/and CPA should be consulted.  Contracts of any kind is an agreement between two (2) parties, and a breach of contract may have dire consequence.

Once you know that you are ready to move forward through the Secretary of State, select a “Fictitious Name”, which is the official name of your business, and a “DBA”, Doing Business As. Create a positive presence, promote your services on the social media, i.e. Twitter, Facebook. your business.

You must contact the Internal Revenue Service “IRS” for your “Federal Identification Number”  for assistance in selecting the type of business you will own, and the pros and cons of each for filing your business and personal taxes.  They range from a Corporation…Partnership…Limited Liability “LLC”… S or C Corp.

The broker and carrier business can be risky when you factor in the moving a load.  The broker agrees to pay the carrier an agreed Dollar ($)  amount for moving a load with a small profit margin for the amount of money expended for fuel, permits, and travel time.

Scenario:  In an average movement, the broker agrees to pay the carrier am agreed amount to move the load from point “Origin” to point “Destination”.  It is assumed that the full amount of the debt or cost is to the carrier.

View Point:  When a shipper is unable to pay, particularly if the shipper is deeply indebted the broker may be liable to pay the carriers and the broker may be forced into bankruptcy. In many instances the broker’s commission is only 10 to 15%.  Just one (1) or (2) bad loads could cost a broker thousands of dollars.

The corporate shield protects personal and/or business assets from creditors, except when a principal signed as a “Personal Guarantor”.

Corporations:

  • Limited Liability Company or LLP are created and created and treated differently, because they represent different  liabilities issues generally requires an attorney.  Here are alternatives to these entities for a corporation with associated cost savings for its formation.
  • Fictitious Business Names (d/ba)-  The Business name is processed through the Secretary of State in each state.  There is no protection against bankruptcy.  A legal notice that in the local newspaper, an article be posted declaring the individuals involved in the formation of the company involved in the formation of the company and the place of business is required to open a business checking account.  Interstate transportation is not subject to state and local sales tax.

Always make a call if uncertain on what type of protection is required for your business.

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TFS Through Networking

Transport Financial Services (TFS) offers solutions to the industry’s logistical challenges through “Collaborative Partnerships”, entailing a single location for transportation services provided by the only BMC-85 Trust Bond provider able to refer BMC-84 Broker Bond’, and all transportation services for full compliance with all Federal Motor Carrier Safety Administration (FMCSA) Regulations.  Essentially, such a 24/7 commitment facilitated by mobile devices provides immediate access to a network of transportation professionals.  Obtain and Retain authority for carriers, brokers, and freight forwarders through our automated E-commerce program.  Start a business, and learn from “Experts”.

Furthermore, TFS manages the complexities of the transportation industry with cutting edge technology, improving customer service to nurture both foreign and domestic markets, thereby enabling development of training certification for “Today’s Broker”, as well as services for the most important commodity in this vast industry, the motor carriers, including funding requirements (factoring). All found in the business platform located at www.eTruckBook.com.

More particularly, TFS Shopping Mall’s Transportation Directory is a yellow- pages for easy access to locate shippers, brokers, and bona-fide carriers.  Shop 24/7 at www.TFSMall.com, a Central location with timely information for better management of logistic operations. This is an excellent tool for factoring companies assuring that carriers never over- extend themselves, and does not provide service to non-solvent brokers, thus keeping honest people honest.  A great example of that is the new “Cancellation Policy” proposed by TFS and implemented by the FMCSA and DOT to identify in bold red letters, “This Entity is pending Cancellation” which prevent shippers from providing loads to brokers, and carriers from accepting loads, saving approximately billions of dollars in claims.

Significantly, TFS prides itself in same-day-delivery for most services, unless additional information is required.  TFS assist carriers to meet the significant compliance requirement of Electronic Logging Device (ELD) imposed by the federal government, and is ready to answer the hard questions on:

  • Cutting Transportation Cost;
  • Technical Strategy and Implementation;
  • Expanding Sourcing from New Markets; and
  • Development of the most innovative concepts of the 21st Century; not to mention

From 3PL Transportation Management, Consultation, and government contracts the ability to contact real transportation professionals with a well- deserved reputation of providing all of the tools required to be successful in a logistics operation. Always a live agent, and by the way go to www.eTruckBook.com which is a pro-bono FREE site to join for all the latest in transportation, careers, products, and services.

Corporate office opens daily from 8:00 a.m. to 5:00 p.m., Central Time at 850. 433.2294 now!

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Start-up “ALL ABOUT YOU” Part 2 of 5 in a series of thoughts related to starting a transportation business

The Business Plan for “Starting” a logistics operation consist of a narrative and several financial worksheets.  The “Narrative” template is the body of the business plan, and serves as the Global Positioning System (GPS) because this is where the journey begins.  It contains more than 150 questions on how to proceed, and why.  Work through the business plan in any order except for the “Executive Summary” which must be completed last.  Skip any questions not applicable to your type of business.

Upon completion of your first draft, you will have a collection of small essays on various topics of your various i.e., what is your niche, who to do business with, what are the funding requirements, and what agencies can support you in setting up your logistics operation.  Edit these essays into a smooth flowing narrative.  This becomes a test of your knowledge of the career you’ve chosen, and what resources are available to equip you to meet those compliance requirements.

Business plan concepts on green chalk board

The real value in creating a business plan is not to have a finished plan in hand, rather, the process of researching, and thinking about your business in a systematic way.  The Army has a slogan that clearly defines planning called the five P’s , “Prior Planning Prevents Piss Poor Performance”.   Planning and due diligence helps you to think through thoroughly all of your ideas critically to avoid costly, disastrous mistakes later.  Always contact transportation consultants, and attorneys to be certain that your decisions are made with the best information.

The business plan is generic for any business, but specific in transportation because we are experts, and can serve as your GPS.  However, modify the business plan to suit your particular business needs, teview yhe section titled “Refining the Plan” found at the end. It suggests emphasizing certain areas depending on your type of  business, freight movement, sales, auto transporting, retail or service.  It also provide valuable insight on fine-tuning your plan for an effective presentation for venture capitalist.  Pay attention to your writing style or seek assistance through professional proposal writers.  You will be judged by the quality and appearance of your presentation, as well as your ideas.  Generally, you want get a second chance to make a first impression.

It typically takes several weeks to complete a good business plan.  Most of that time is spent researching, and thinking of your ideas, assumptions, and the value of processes.  Take he time, make a call, and  do the “Business Plan” properly because that is “THE” guide to determine the success of your logistics operation.  Those that prepare business plans never regret the efforts.

There is a famous proverb that states” Consider the cost”.  His could be taken several ways, not just the dollar amount because funding is part of the plan.  You may consider a home-based business and the effect it may have on the family.

If you are a motor carrier or broker finding freight is difficult without the right resources. The truck is never where he load is, so time and ravel must be considered as well as vetting carriers qualification, confirming rates, and tracking shipments.

A well-thought out “Business Plan” determines the size of your investment, number of employees, and return of your investment.  As a home-based owner-operator your family can be trained to find freight,  and you can get two (2) authorities, One (1) as a motor carrier (trucker) and one (1) as a broker to employees other carrier as loads are secured from load boards.

Remember, that TFS has the best transportation professionals in the industry working as a cohesive unit to meet all of your transportation needs at a cost-effective and timely manner.

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So saddened by the weekend events…

So saddened by the weekend events…

I am saddened, and so are many other Americans nationwide by the addictive mass shooting rampage.  As of August 3, 2019 the number of mass shooting across the USA so far in 2019 has outpaced the number of days this year.  This puts 2019 on pace to be the first year since 2016 with an average of more than one mass shooting a day.

As of Sunday, August 4th, which was the 216th day of the year, there have been 251 mass shootings in the U.S., according to data from the nonprofit Gun Violence Archive, which tracks every mass shooting in the country. The Gun Violence Archive defines a mass shooting as any incident in which at least four people were shot, excluding the shooter.

Authorities are responding faster and either apprehending or defending themselves, and the public against people that have planned, and carried out their crime of infamy.  Have crime will travel, and guns for sale impacts generations to come.  Life is much like a coin, but you can’t spend it twice.

I served twenty-eight (28) years, and retired from the U.S. Amy as an exemplary soldier, and a more responsible citizen.  I hurried up and waited, and understood the meaning of “Patience and Discipline”.  My brother retired after Thirty-three (33) years from the Navy, and served an additional 10 years as an EEO Officer.  Last, my older brother retired from the Air Force .  We have all become better citizens, and conscious of  those factions that are a detriment to our society, and the true “Meaning of the American flag”.  The meaning of the American flag is defined as:

The American Flag is symbolic in many ways.  The alternating red and whites stripes represent the 13 British colonies that settled in America, while the stars represent each individual state.  Even though many Americans proudly fly the flag outside their homes and businesses every day, it is fitting that we as a country, have set aside one specific day each year to honor our flag and to remember that it represents the ideals and values that we live by.  The American Flag represents a people, not an office or a person.

Our thoughts go out to the families and friends that have been affected by shootings this last weekend and in the past.  Let us hope that our country and we as a people can do something to stop these vile attacks from happening.

Marold Studesville

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7 Required Elements of an Enforceable Contract

By: Bernadette A. Safrath

A contract is a legal document between two parties. In order to be enforceable, the contract must contain seven elements. While more specific requirements may differ by state, the basics of contract law require that these seven elements exist regardless of where the contract is formed. If even one is missing, a contract may be voided and the parties will be excused from any obligations.

7 Required Elements of an Enforceable Contract

Offer

An offer is the beginning of a contract. One party must propose an arrangement to the other, including definite terms. For example, if the proposal is an offer to purchase shirts, it must include quantity, price and a delivery date. When the offer is communicated to the other party, he has the right to accept, reject or amend the offer. If he rejects it, the offer dies. If he amends the offer, the original offer dies and his amendments become a new counteroffer that the other party can accept or reject.

Acceptance

An offer can be accepted in writing, in person or over the phone. The acceptance must simply be communicated to the offering party, with an obvious declaration that the accepting party intends to be bound by the buyer’s terms. Under the “Mailbox Rule” used in most states, an offer is deemed accepted when the accepting party places it in a mailbox or sends an email, even if the offering party never actually receives it.

Consideration

Consideration is something of value that the parties are contracting to exchange. Generally, one party exchanges money for property or services, but the parties can both exchange property or services, as long as a court would find that each party’s consideration has sufficient value.

Competence/Capacity

Competence, also called legal capacity, is a party’s ability to enter into a contract. The most common reason for incompetence is age. A party must be at least 18 years old to enter into a contract. If a minor signs a contract, she has the right to cancel it. Another reason for incapacity is mental illness. A person incapacitated by a disease or disability, who does not understand the terms of a contract he entered, has the right to rescind his acceptance of an offer, voiding the contract. Lastly, a person under the influence of drugs or alcohol may be considered incompetent if the other party knew or should have known that the person’s impairment affected his ability to understand and freely consent to the contract.

Mutual Consent

Generally, the law assumes that a competent party freely consents to a contract. However, if consent was obtained on the basis of frayed, due to duress or because of the exercise of undue influence, a party’s consent is considered involuntary and the contract is void.

Legality

A contract is only enforceable if the activity in the contract is legal. For example, a person cannot contract with someone to commit assault, murder or another criminal act. Additionally, contracts to split lottery winnings in states where gambling is illegal have been delayed unenforceable.

Writing

Not all contracts need to be in writing, but under the Statute of Frauds, certain contracts must be in writing in order to be enforceable. A written contract is required for all transactions involving real estate (i.e., lease or sale of a home), any promises to marry, any agreements to pay a third party’s debt and any transaction in which performance cannot be completed within one year of the contract signing.

https://www.sapling.com/11368503/7-required-elements-enforceable-contract

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Marketing…Marketing…Marketing – some pointers on data privacy

A couple of days ago we were shocked to receive notice of a pending lawsuit against TFS for sending out an unsolicited text message to a transport company promoting some of our services on www.TFSMall.com.  The number we had texted information too was listed as a business number with the FMCSA and so was available in the public domain for use by other businesses wanting to contact them.  When you sign up with the FMCSA, you sign a document called an OP1 that says that you accept that your phone number will be distributed to other organizations for them to contact you via either calls, email, or text.

Image result for data privacy

We have and will always be proud of our level of transparency that we have with both our clients, potential clients, vendors and business partners when it comes to information we utilize for in-house marketing and also what we post on our websites.  We have all the relevant disclaimers on our websites and email communications; we want you all to learn and benefit from all of our experiences.

  1. Never use your personal cellphone number for business.  You will be amazed at how many different locations your number will start appearing online and how many calls and texts you will receive.  If you are on a tight budget as a new business, there are a variety of cost effective options available to you.  Google Voice for example, will set you up with a free telephone number that will forward to your cell number.  You can even use their app to dial out from that free number, via your cellphone service.  There is no cost associated with a google voice phone number.  If you need help setting this up our team would be happy to help.
  2. If you are going to be emailing or texting potential business partners, always include in your signature an option to “unsubscribe”.  All email software has an option for setting up a signature, so you can include an unsubscribe option there so that you do not have to keep on typing it in.   Again our team can help you with this if needed.
  3. When sending out emails or texts to a large number of recipients use software that is designed to do the job.   www.constantcontact.com and www.mailchimp.com are examples of email marketing software.  www.skipio.com and www.eztexting.com are examples of text marketing software.  FYI there may be costs associated with using these applications so make sure you do  your due diligence.  If you need help please let us know.

When it comes to the crunch, as a business owner, there are always things that will come along that you will have to deal with  that you were not expecting.  Take them in your stride, take a deep breath and be sure to always work with credible, well organized companies, and build a team that you can trust and rely on!

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TFS on BBB.org – People are looking at our profile there!

The Better Business Bureau is a great organization and has help Transport Financial Services, LLC to grow and support the transportation and logistics industry and the professionals that work in it.

The industry is on the up and up, and you can see by the amount of people that visit our profile on the BBB page. Here is a link to our dashboard that shows the amount of visitors to our profile year on year and a link to our profile.

https://nwfl.app.bbb.org/ab-dashboard/141/3009506/90020678

https://www.bbb.org/us/fl/pensacola/profile/transportation-consultants/transport-financial-services-llc-0683-90020678

Use the link above to check out our A+ rating at the Better Business Bureau!

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The General “Chappie” James Memorial Bridge to open on June 7th!

https://www.pnj.com/story/news/2018/06/03/pensacolas-chappie-james-museum-and-flight-academy-opens-june-7/660340002/

The Gernal "Chappie" James Memorial Bridge in Pensacola FL, to open in June.
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