Our Mission is to provide carriers the necessary funds to boost up cash flow to achieve their business goals for success.
Created by Carriers for Carriers.
Our History:
Transport Clearings East, Inc. was organized in 1958 as a not-for-profit cooperative by the Charter Membership to provide cash flow at a minimum rate for its carrier members. TCE is governed by five (5) Directors; the Directors are executives or owners of member carriers who are elected to the Board at the Annual Membership Meeting held each year.
Freight bill payment history is maintained for immediate recall for a period of one year. The Billing Process is more economical for both the carriers and customers since freight bills for several members can be included on one statement and submitted. The customer can issue one check to the Clearinghouse covering charges for several member carriers.
Being Not-For-Profit:
To support the success of the carriers' business, TCE was created as a Not-For-Profit Co-Op. After expenses paid at year end June 30th, all excess funds are given back to our carriers through patronage dividend checks. And we are proud to say we have been doing so for the past 43 consecutive years!
After your trucking company joins TCE as a member carrier, your company becomes eligible to receive a yearly Patronage Dividend check. As mentioned above, all profits are returned to our member carriers at the year end of our fiscal year through these checks. This is just another substantial savings for your trucking/aggregate company. Enjoy the benefits of being a member at TCE: super low rates, excellent service and a handsome dividend for your patronage.
Freight, Warehouse, and
Aggregate Factoring:
Freight factoring is just one of a few terms used when talking about a trucking company's account receivables. Some call the service trucking factoring, while others call it freight bill factoring, AR (accounts receivable) funding, or freight invoice factoring. These terms all refer to the same service.
Factoring is the sale of freight bills/ invoices by a trucking company to a factoring service company, which buys the bills at a rate. Factoring is an easy way to manage cash flow for your business. We here at TCE, offer the lowest service rate in the trucking industry, being less than 2.20%. Once the freight bills are purchased, funds will be deposited by your choosing: instantly to your fuel card or your account within 24 hours.
