Press Information

Apex Capital Supports the Settlement of NASTC et al. v. FMCSA

Fort Worth, Texas–Apex Capital, a leading factoring company in the trucking industry, is also the leader in involvement and support of the 2010 case NASTC et al. v. FMCSA. Apex is the only factoring company financially backing the plaintiffs in this case and supports the settlement which protects small motor carriers that make up to 90% of all carriers regulated by the Federal Motor Carrier Safety Administration (FMCSA). Apex believes small to midsized trucking companies are vital to our nation’s economy. The premature release of a 2010 scoring initiative would have the largest, and potentially devastating, effect on these small business owners.

The FMCSA was created to certify carriers as safe and operable on US highways. Their Comprehensive Safety Analysis (CSA) initiative was proposed in 2003 with plans to release in December 2010. Despite evidence suggesting that data was incomplete and lacking in qualitative strength, the initiative was released as planned. The Agency discovered after publication that the vast majority of the carriers it regulates do not generate enough statistical data to warrant measurement under the system. Post mediation, the Agency has issued a disclaimer endorsing the current FMCSA regulation of carriers and acknowledges that CSA/SMS data is intended for internal use and not as an accurate rating of any carrier.

David Baker, President of Apex Capital, states, “The FMCSA is the authority as to who is fit to operate on our roadways and who is not. When you board a commercial airline, most people do not check their safety rating because the FAA is doing its job. The same can be said for the FMCSA and their role in ensuring that safe, efficient and competitive carriers are rolling up and down our highways. Kudos to Hank Seaton for looking out for those who depend on small trucking companies. Well done!”

As a proud partner of small and large carriers alike, and a leader in the transportation industry, Apex Capital is honored to be part of a settlement that upholds the regulatory criteria of the FMCSA and protects carriers from an unsubstantiated rating system that jeopardizes their ability to haul freight. Apex was founded on good-natured principles and was fortunate to participate in this campaign to protect the interest of their clients and business partners.

Apex Capital Offers Tips on Finding the Right Factoring Partner

FORT WORTH, TX – Apex Capital, the leading full service factor, offers some practical tips for selecting the right factoring partner.

With the daily addition of a new factoring company, it can be difficult to understand and know how to find the right partner. Many factors are full of promises with no intention to ever fulfill them. How do you know which factor to choose? Aren’t all factors really the same? Not really.

Step one; look for a reliable and reputable factor. This could actually be more important than your fee. Service, reliability, and reputation are the fundamental elements of a quality factor. Look for one that’s been in business for a while, has in-depth trucking experience, a reputation for honesty, and offers services you’ll need to make smart decisions.

Step two; ask questions. Most factors that have low advertised rates use these to lure you in. Only after you’re hooked, do you discover all of the back end hidden fees. Always ask these questions before entering into a factoring agreement:

What type of online reporting is available?
What reports and schedules will I receive?
Are there any minimum fees?
How do you handle collections?
Do I have to sign a long term contract?
Is there a penalty if I don’t meet the minimum?

Step three; know the terms of the factoring agreement. Have an attorney review the contract. You may spend a couple hundred dollars for the attorney to read and interpret it, but that investment could prevent a costly mistake. Many factors take advantage of the unsuspecting carrier locking them into long term contracts and factoring agreements imposing minimum monthly fees. Do your homework.