Trucking: regulation of payment to trucking company, household movers, trucking companies

Question
Is there a regulation where trucking companies have to be paid within 15 days of a signed delivery invoice being sent to the company after delivery has been made. If not anything in regards to how long companies have to pay trucking companies once an invoice has been sent? Thanks Dennis


Answer
Dennis, since deregulation the only credit terms dictarted by the FMCSA are for Household Movers.
http://www.fmcsa.dot.gov/rules-regulations/administration/fmcsr/fmcsrruletext.as...
If you are a common carrier you can set your own credit terms in your tariff.  If you are a contract carrier you need to specify the credit terms in your contracts.  Lacking a tariff or a contract you are entitled to be paid for your work in a reasonable time which is up to the courts to decide.  Best bet is to agree to terms up front and get a contract or letter of agreement in writing.
hope this helps.
Jim.