When a carrier’s customer files for bankruptcy protection, it starts a long legal process that can tie up payments for months or even years. If you are a trucking company working on already thin margins, that is money you may need to keep operating, say nothing for the uncertainty of getting paid for future loads. But, there are some simple steps any carrier or owner-operator can and should take to protect themselves and ensure they get paid. This infograph breaks down those steps. For more on what you should do: Visit FreightWaves’ Cash Flow Corner, sponsored by TriumphPay
Cash Flow Corner, sponsored by TriumphPay, is a weekly look at how carriers can maximize their cash flow and minimize their exposure to financial loss through improved cash flow management. More information on TriumphPay's offerings can be found at: www.triumphquickpay.com.