A3 Freight Payment Blog


Category: Financial

Financial Risks and Freight Payment: Fidelity Bonds (Employee Dishonesty Insurance)

The excerpt below is from the publication A Guide to the Financial Risks of Freight Payment Providers, which was produced by A3 Freight Payment for the benefit of customers and prospects. For the complete publication go to the Instant Access Materials in the A3 Freight Payment Resource Library .  In receiving temporary custody of a customer’s assets, freight payment companies are assuming a risk of safekeeping, against which they normally take insurance. The insurance coverage can go... Read More
Posted by Ross Harris at Thursday, October 25, 2012 | 0 comments
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The Role of an SOC 1 report (formerly SAS 70) in Freight Payment-White Paper

A3 Freight Payment is pleased to announce the publication of its latest white paper on topics of interest to freight payment stakeholders. Below is an excerpt from the beginning of the paper:  Introduction An essential element in the selection of a freight payment company is a review of that company’s SOC 1 report. The SOC 1 report provides important insight into the internal control structure of a freight payment provider, as well as the effectiveness of those controls.  ... Read More
Posted by Ross Harris at Friday, September 21, 2012 | 0 comments
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Financial Risks and Freight Payment: Refunds Processing

The excerpt below is from the publication A Guide to the Financial Risks of Freight Payment Providers, which was produced by A3 Freight Payment for the benefit of customers and prospects. For the complete publication go to the Instant Access Materials in the A3 Freight Payment Resource Library . In the normal course of a freight payment relationship, a freight payment company will receive refunds from logistics providers on behalf of its customers. The refunds are sent to... Read More
Posted by Ross Harris at Thursday, August 23, 2012 | 0 comments
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Financial Risks and Freight Payment: Audited Financial Statements

The below is an excerpt from the publication A Guide to the Financial Risks of Freight Payment Providers which was produced by A3 Freight Payment for the benefit of customers and prospects. For the complete publication, CLICK HERE . A freight payment company that will not produce audited financial statements for its customers’ review should be automatically eliminated from consideration during a freight payment bid process. Audited financial statements are the lynchpin of... Read More
Posted by Ross Harris at Thursday, August 9, 2012 | 0 comments
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Financial Risks and Freight Payment: EFTs vs. Paper Checks

The below is an excerpt from the publication A Guide to the Financial Risks of Freight Payment Providers which was produced by A3 Freight Payment for the benefit of customers and prospects. For the complete publication, CLICK HERE . A freight bill audit and payment company that is intent upon serving a client’s needs will employ an aggressive program to pay carriers by means of Electronic Funds Transfers (EFTs). The company will avoid paper checks and encourage carriers to... Read More
Posted by Ross Harris at Thursday, July 12, 2012 | 0 comments
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