Frequently Asked Questions About Broker Credit Lines
At Apex, working with trusted brokers is an integral part of our business. We know that brokers have questions about how Apex credit lines work. So, we put together a short list of frequently asked questions (FAQs) that we commonly get from brokers.
When a credit line is established, the amount is per client. For example, a $5,000 credit line applies to each client. It is not an overall amount.
Instead of credit ratings, Apex sets a dollar amount for a credit line, which is applied to each client.
At Apex, we can accept a variety of payment methods including wire transfers and checks. We can also set up brokers for ACH payments, but we do need additional information to establish the ACH payment process. However, we do not accept credit cards or prepayments/deposits.
Yes. Apex can approve loads on a case-by-case basis. Our clients can call their account executive, request online, or use the mobile app to ask for the load to be approved. Loads are approved depending on factors such as account status at the time of request, broker payment history, the load amount, the comfort level of the account executive with that carrier, and more.
AMP is Apex’s Account Management Portal, a FREE database where brokers can check payment status, see Notice of Assignment (NOA) documents, find information on issued checks, update their contact information, find contact information for account services representatives, see invoice details (number, amount, sent date, etc.), request documents, and more.
Providing an MC Number rather than a name can be very helpful as sometimes there are many common names. At Apex, we also value open communication and responsiveness.
A bank reference can be a valuable source of information to help Apex determine a credit line.
Ultimately it is the client’s choice to haul a load for a broker. Some clients prefer certain types of loads, limits, and routes to help them make their decision. Your payment history will also help more carriers be interested in hauling your loads. By paying your carriers in a timely manner, your credit will improve and in turn the credit line will increase.
We appreciate great communication, especially information about changes to your business (location, personnel, email addresses, processes). That helps Apex make your job easier.