TIA introduces Guaranteed Payment Program

Transportation Intermediaries Association initiates 'groundbreaking' program.

The Trucker News Services

11/13/2007

ALEXANDRIA, Va. — The Transportation Intermediaries Association (TIA) has implemented what the company calls a “groundbreaking” program designed to forever change the brokerage based third-party logistics industry.

Called the Guaranteed Payment Program (GPP), the program provides qualified members of TIA with coverage beyond the standard requirement of $10,000 as set by the U.S. Department of Transportation, according to Robert Voltmann, TIA president and CEO.

Eight TIA member companies are already confirmed participants, the company said.

Through the GPP, TIA members can obtain a coverage guarantee up to $100,000.

“The GPP is an industry break-through that proves that TIA members are the best 3PLs in the market and we guarantee it,” Voltmann said.

Voltmann said the program provided three levels of guarantee: $100,000, $25,000 and the standard $10,000.

Avalon Risk Management and Lincoln General Insurance Co., who have joined forces with TIA to offer the GPP, work as surety partners and will make the final determination as to which level a company qualifies, he said.

“GPP will build on TIA’s P3 company certification initiative,” Voltmann said. “Through P3, TIA members commit themselves to best practices in addition to the TIA Code of Ethics and undergo a higher level of scrutiny. GPP will build on this successful program by guaranteeing freight payments.”

The company said the GPP identifying logo will be a variation of the P3 logo with “P3 100” representing the $100,000 guarantee, “P3 25” representing the $25,000 guarantee, and “P3 10” represents the $10,000 payment guarantee from your current surety source. The logos will appear next to participant loads on the major freight boards so that those companies can be easily identified as GPP participants.

The first eight TIA member companies who have confirmed their participation in the GPP at the $100,000 level are Choptank Transport Inc., Preston, Md.; Midwestern Transit Service Inc., Ashley, Ill.; Triple T Transport Inc., Lewis Center, Ohio; Freight Tec Management Group Inc., Bountiful, Utah; Virginia Hiway Inc. dba VHI Transport, Chester, Va.; Twin Modal Inc., Roseville, Minn.; Des Moines Truck Brokers Inc., Norwalk, Iowa, and G. Roch Consultant Ltd., Saint Hubert, PQ, Canada.

TIA is the professional organization of the $114 billion third-party logistics industry.