• Register with LoadWave: Sign up and create a profile, providing essential details like your name, contact information, and truck specifications.
• Verify Your Documents: Ensure all required documents, such as insurance, licenses, and certifications, are current and verified.
• Set Equipment and Capacity: Specify your truck type, capacity, and available equipment (e.g., refrigeration, hazmat).
• Choose Lanes and Preferences: Indicate your preferred routes, lanes, and types of loads to receive tailored load offers.
• Stay Active and Ready: Keep your profile updated, and be prepared to accept load offers that fit your criteria.
• Build a Strong Reputation: Provide excellent service, communicate effectively, and meet deadlines to enhance your reputation and access more loads.
• Network with Dispatchers and Brokers: Build relationships with dispatchers and brokers to increase load opportunities.

• LoadWave Dispatch Requirements: LoadWave Dispatch likely requires carriers to have their own MC authority to comply with federal regulations and ensure the protection of both parties’ business interests.
• Federal Regulations: The Federal Motor Carrier Safety Administration (FMCSA) mandates that carriers must have an MC authority to operate legally within the U.S.
• Insurance and Liability: Having an MC authority typically means carriers need to maintain their own insurance, which safeguards both the carrier and LoadWave Dispatch in case of accidents or claims.
• Contractual Agreements: LoadWave Dispatch may require carriers to sign a contract, which usually assumes the carrier holds their own MC authority.

To confirm LoadWave Dispatching Company’s exact requirements for carriers, it’s best to contact them directly and ask for specifics.

A factoring company, also called a freight factoring company, is a financial service provider that offers cash flow solutions to transportation businesses, such as trucking companies, carriers, and freight brokers.

1. Invoice Factoring: The factoring company buys outstanding invoices from a transportation business at a discounted price.
2. Immediate Payment: They provide immediate payment to the transportation business, usually within 24-48 hours.
3. Collections: The factoring company takes over the responsibility of collecting payments from the debtor (shipper or broker).
4. Repayment: After receiving payment from the debtor, the factoring company rebates any reserve amount to the transportation business.
5. Factoring companies help transportation businesses by:

• Improving cash flow
• Reducing accounts receivable
• Increasing liquidity
• Allowing the business to focus on growth and operations

Factoring fees usually range from 2-5% of the invoice total. Some well-known factoring companies in the transportation industry include:

• Freight Factoring Corporation
• Transportation Factoring, Inc.
• Apex Factoring
• RTS Financial Inc.
• Love Solutions

Yes, LoadWave Dispatching Company assists with invoicing and payment processing. Here’s an outline of how their invoicing and payment process works:

Invoicing:

1. Automated Invoicing: LoadWave Dispatch creates invoices for you based on load details and payment terms.
2. Customizable Invoices: You can personalize your invoices to include your company’s logo, contact information, and other necessary details.

Payment Processing:

1. QuickPay Option: LoadWave Dispatch offers a QuickPay service, allowing you to receive payment within 24-48 hours after delivery.
2. Factoring Solutions: They partner with factoring companies to provide additional cash flow support if needed.
3. Direct Deposit: Payments are directly deposited into your bank account for convenience.
4. Payment Tracking: You can monitor your payment status using the LoadWave Dispatch platform.

Getting Paid:

1. Delivery and Documentation: Ensure you deliver on time and provide the necessary documents like proof of delivery and bills of lading.
2. Invoice Submission: Submit your invoices to LoadWave Dispatch, either manually or via their automated system.
3. Payment Processing: LoadWave Dispatch processes your payment based on their terms and conditions.
4. Receive Payment: You can receive payments via direct deposit, factoring options, or by using the QuickPay service.

Please note that payment terms, processing times, and fees may differ. It’s essential to review LoadWave Dispatch’s policies and discuss any questions with their support team to ensure you’re fully informed.