My compnay Intrade Industries Inc is huling freight for him for more than 5 years. He just stop paying during the month of June. Then Joe Baker promised to send one check every week for one load. He backed out from his promise and we are not getting any check for last few weeks. He still owes us $149200.00. The funny thing of transportation industy is that broker have a bond of only $10000, which is equal to the price of one or two prouduce loads. So I strongly favour the upcoming law of having bond of $100000.00.
He has cancelled the bond in May and got a new surety bond with another company in June. Broker should not be allowed to get new bond untill they clear non payment related to new bond. How easy it is, "get a bond of $10000.00, hold payment of carriers for more than 200000.00 (two hundred thousand), cancel that bond at any time and get a new one with another bond company and start ripping off some other trucking compnies."
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