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Due to cold weather conditions and gas shortages, earlier this month the New Hampshire governor extended the waiver of certain Federal trucking regulations, with the extended deadline being January 11. The original waiver was supposed to last until the end of December.

Several states, including Colorado, Maine, Mississippi, New Jersey, and more, also extended temporary waivers. These waivers allowed certain Federal regulations, such as hours of service restrictions, to be temporarily suspended for drivers involved in emergency relief efforts. While the waivers issued typically only applied to 49 CFR Parts 390-399, the waivers could be extended to other carriers and regulations by a Governor’s Declaration.

Especially during busy months and times, such as this, when emergency transportation services are needed, keeping your trucking company operating and financially viable is critical. When you are in need of cash due to unpaid service bills, our factoring team at TBS Factoring can help. Call 800-207-7661 to discuss your financial needs with us and find out how we can help.  

In the third quarter of this year there was a notable decrease in cargo theft when compared to previous years. According to the Supply Chain Information and Analysis Center, there were only 195 reported instances of cargo theft in the third quarter of 2013, compared to 285 from the third quarter of 2012. 

This time period usually sees the greatest amount of theft during the year, as thieves target trucks carrying goods to be sold during the holiday season. Experts speculate that the drop in theft could be the result of a heightened awareness among truckers of the dangers of cargo theft, resulting in increased precautions. 

Unfortunately, theft is not the only financial difficulty that truckers may face in the course of their work. Far too many truckers and trucking companies struggle to make ends meet becasue of clients who fail to make timely payments on their invoices. If you are facing cash flow problems and you need the money you are owed as soon as possible, the freight factoring experts at TBS Factoring Service are here to help. Call us today at 800-207-7661 and learn more about how we can help you and your business. 

In July of 2013, the Federal Motor Carrier Safety Administration (FMCSA), a division of the U.S. Department of Transportation, amended the Hours of Service (HOS) allowed for trucking employees. The new HOS requirement prohibits a driver from being on the road for over eleven hours in a fourteen hour workday, making the maximum time a trucker can work in a workweek 70 hours.

Compared to 2012, when the HOS limit was 82 hours per workweek, the possible Hours of Service have decreased by 12 hours. The trucking industry has long since suffered from a labor shortage, so when the new stringent work limit was announced, many people in the trucking industry projected that productivity would suffer.

The FMCSA stands by the newly imposed rules, claiming that the changes will help reduce the likelihood of fatigue-related trucking accidents. Ray Lahood, secretary of the U.S. Department of Transportation, mentioned that they made these rules with safety in mind, not profits.

Unfortunately, HOS regulations are only one component that contributes to the overall financial standing of truckers and trucking companies. If you are having trouble making ends meet because you have clients who have failed to pay their invoices on time, freight factoring can offer you the relief you need. Contact TBS Factoring Service today at 800-207-7661 to learn more about how we can help. 

TBS Factoring Service recently announced that it will be awarding a $10,000 scholarship for trade school through the St. Christopher Truckers Development & Relief Fund to veterans of the U.S. military. 

Application submission for interested veterans began on October 1st and applications will continue to be accepted until November 15. The winner of the scholarship will be announced sometime in early December. The winner will be able to use the scholarship at the trade school of his or her choice, and will be awarded on the basis of financial need as well as a demonstrated interest in pursuing or advancing a career in the motor-carrier industry. Interested individuals can apply online at www.truckersfund.org or by contacting the St. Christopher Truckers Development & Relief Fund at 865-202-9428 or contact@truckersfund.org.

Wood Kaufman, the founder and CEO of TBS Factoring Service stated, “We are extremely proud of those who have given so much to protect our country. It’s our honor and privilege to now help give them, through this grant, an opportunity to make a difference as civilians here at home. Trucking presents great career opportunities and serves an important role in America’s economy.”

After opening in 2004, TBS Factoring Service, LLC, recently passed a major milestone – surpassing $1 billion worth of freight-factored invoices.

This is a considerable marker for TBS, which provides cash to independent truckers and small trucking companies by buying their invoices at a marked-down price. This immediate cash flow can help these smaller businesses from facing detrimental financial problems and grow their businesses, especially when parties that owe them money fail to provide payment.

According to Wood Kaufman, TBS founder and CEO, “We are proud of this important milestone because it reflects our continued commitment to American small businesses. Our success is built on friendly, personal service and a customer base that knows it can count on us. In fact, our clients give us a 98 percent satisfaction rating, and that shows in our own results.”

TBS works to help small and independent truckers stay afloat and increase their business by providing a variety of financial solutions, from buying invoices to selling discount fuel cards. Find out more about our services and how we can help your trucking company financially, call 800-207-7661.

Thus far in September, the trucking industry has made shifts towards using liquefied natural gas (LNG) alongside diesel as a more environmentally-sound source of energy. On Wednesday at the Great Lakes Trucking Expo held in Cleveland, Tom O’Brien, CEO of Travel Centers of America LLC, spoke about recent progress in developing profitable ways to use LNG in the trucking industry. O’Brien cited the “shale revolution” as enabling the exploitation of liquefied natural gas in an economically advantageous way.

Across the United States, oil companies have been exploring shale exposures for natural gas with success. The discovery of natural gas gives the United States a newfound advantage in energy industries. O’Brien believes that the discovery of liquefied natural gas in shale exposures “could be the largest single advantage that the U.S. has enjoyed in the last century.”

Recently, Willow Run Foods signed a lease with Ryder Systems, Inc. for fifteen heavy duty compressed natural gas vehicles. The partnership between Willow Run Foods and Ryder Systems, Inc. marks tangible evidence of the shift towards using LNG that O’Brien spoke of on Wednesday. The vehicles were made available to Willow Run Foods through funding by the New York State Energy Research and Development Authority (NYSERDA). The project is expected to reduce greenhouse gas emissions by 500 tons.

New fuel options for truckers often comes with significant financial benefits. Unfortunately, many truckers still find themselves facing significant cash flow issues. If you are experiencing financial problems because of unpaid invoices, TBS Factoring Service can help. Contact us today at 800-207-7661 to find out more about what we can do for you. 

A bill authored by Rep. Matt Cartwright, D-Pa., would dramatically increase the minimum amount of injury and property damage insurance that trucking companies are required to carry. Under current law, trucking companies are required to carry a minimum of $750,000 in insurance in the event of an accident. Cartwright’s bill would increase this amount almost five-fold, to a total of $4.4 million.

Industry groups such as the American Trucking Associations argue that such moves could be harmful to the overall industry, and could harm small trucking companies in particular, without measurably improving the safety of other motorists. At present, the bill is not expected to pass the Republican-controlled House of Representatives.

At TBS Factoring Service, our team of trucking industry professionals understands the challenges that truckers can face, and we work to ensure that truckers and trucking companies have the support and assistance they need to stay on the road. Contact us at 800-207-7661 to learn more about what we can do for you.

Transportation Secretary Anthony Fox recently proposed a change to the current rules relating to inspection report requirements that has the potential to save the trucking industry millions of hours of work and billions of dollars each year. Under the new requirements, it would only be necessary for truckers to file reports regarding inspections that actually turn up defects.

According to estimates from the Department of Transportation, the current reporting requirements cause trucking companies to lose more than 47 million hours of working time each year, and the proposed requirements would cut out an unnecessary and burdensome regulation on trucking operations.

At TBS Factoring Service, we are dedicated to helping truckers work as effectively and efficiently as possible, including helping with any financing concerns that may arise. To learn more about our freight factoring services and what we can do to help keep you on the road, contact us today by calling 800-207-7661.

Pilot Flying J, the truck stop chain that has been under fire for denying trucking companies and independent operators millions of dollars in fuel rebates to which they were entitled, has recently reached a settlement with eight of the trucking companies that pursued legal action against Pilot. Under the terms of the settlement, the eight firms will receive compensation for the lost rebates, as well as 6% in interest payments.

While this settlement is good news for the companies involved, there are still 13 pending lawsuits against the company in various state and federal courts across the country. Nevertheless, the decision on Pilot’s part to reach a settlement with this initial case may be a positive sign for the ability of others to receive compensation.

The trucking industry experts at TBS Factoring Service understand the many different financial issues that trucking companies and independent operators may face, and we are committed to helping truckers get the funding they need to stay on the road. If you would like to learn more about our freight factoring services, contact us today at 800-207-7661.

According to the most recent study conducted by the American Trucking Association, both short- and long-term trends in the trucking industry continue to point in a positive direction. Truck freight tonnage, according to the study, increased 2.3% from April to May, and was up nearly 7% from the same period in 2012, with heavy loads in particular leading the way in the increased tonnage.

Additionally, these trends appear to be sustainable over the long term, particularly in light of new energy developments in states such as North Dakota, which are requiring substantially more freight activity to help move heavy equipment and other business components. The boosts that this type of activity can provide to the overall economy, furthermore, suggest that all sectors of trucking have the potential to see significant growth, with ATA projecting a more than 20% increase in freight volumes for all modes of trucking.

At TBS Factoring Service, we are dedicated to helping independent trucking operators get the help they need to stay on the road and in business. Contact us today at 800-207-7661 to speak with a member of our customer service staff and learn more about how our freight factoring services may be able to help you.