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Last year, the Federal Motor Carrier Safety Administration enacted new rules limiting the hours of service drivers could be operating a truck. Truck companies vehemently opposed this rule, as they had to drastically rework schedules, staffing, and put more trucks on the road at a time. In fact, trucking companies believed the “Hours of Service” rules impacted the industry so severely that about $500 million was lost this past year.

Due to the outrage, Congressman Richard Hanna has proposed legislation to halt the Hours of Service regulation. The bill he has drawn up will suspend this federal regulation for the 2015 fiscal year and trucking companies can return to their former regulations regarding hours of operation.

While these changes could undoubtedly help many truckers and companies, many find themselves still facing financial difficulties due to clients who fail to pay their invoices. Fortunately, the experienced team at TBS Factoring Service can help you make ends meet. For more information on how our truck factoring services can benefit you, call us today at (800) 207-7661.

The Federal Motor Carrier Safety Administration granted farmers and drivers transporting livestock, agricultural products, necessary supplies, and machines to and/or from farms the hours of service exemption that’s allowed for the agricultural industry.

Whereas the old rule only allowed drivers to drive a maximum of 100 hours from the starting point, this new exemption allows qualified drivers to drive 150 miles from the source. While this new rule, only passed on March 14, 2013, can be extremely beneficial, it is only extended to farmers, their families, and their employees. Commercial drivers who drive for-hire trucks are required to continue operating under the old rule.

Regardless of what products you transport, you may find yourself short of funds when a client or customer does not pay you on time. In this situation, TBS Factoring can help you by factoring your freight bills. This can help you get the money you need when you need it. Call 1 (800) 207-7661 to find out how our team can help you.

The American Trucking Association (ATA) is currently in a legal battle with the Federal Motor Carrier Safety Administration (FMCSA) over proposed hours of service regulation changes, currently set to take effect in July of 2013. In the latest development, the FMCSA has refused to delay implementation of the new policies until after a judicial decision is made regarding contested provisions of the new policies.

According to the ATA, this delay would help save the trucking industry as much as $320 million between now and July 1^st, savings which would come from the costs of training employees to comply with the new regulations and other transition costs.

Unfortunately, many of these costs will likely be born, at least in part, by independent trucking operators. At TBS Factoring, we understand how much these types of challenges can affect your business. Fortunately, our freight factoring services can help to keep your revenue streams steady and reliable. To learn more about what we can do for you, contact us today at 1-800-207-7661.  

As of July 1st, new hours of service regulations from the U.S. Department of Transportation could go into effect, unless a current lawsuit challenging these hours of service changes is successful. 

If the changes go into effect, truckers will be limited to one 34-hour restart per week, and the average maximum allowable hours will be reduced from 82 hours to 70 hours per week. This amounts to an overall 15% decrease.

Proponents of the new regulations argue that they are meant to keep drivers healthier and to reduce instances of driver fatigue behind the wheel. However, many are opposing these changes, stating that they will not have the indended benefits on the industry and instead, will only do damage to motor carriers. 

Motor carriers and independent drivers find themselves regularly facing a number of challenges that affect their business and their financial standing. Fortunately, there are services out there that aim to help those in the trucking industry make ends meet when times are tough. To learn more about the potential benefits that freight factoring could have for you and your business, contact the team at TBS Factoring Service today by calling 1-800-207-7661.