MLS Credit Terms
Every shipper is required to fill out a Application or Credit. Shippers shall complete a Shipper/Broker Transportation Agreement. Transportation Brokers are required to complete a Co Brokerage Agreement.
It is the policy of Mike’s Loading Service, Inc. to act as a Transportation Broker in all business for which we provide service. This website contains our company profile, authority, bond, insurance, and affiliated companies. Our credit terms allow for payment within 30 days net of receipt of the original bills of lading and pertinent documentation. Interest of 1.5% per month or 18.0% annually may be charged to any balance not paid within terms. Collection fees, attorney's fees, and court costs may also be charged in the event of nonpayment by customer. Should payment not be received by Mike’s Loading Service, Inc. within this time period, Texas Civil Remedies and Practice Code Chapter 38.01 allows for specific action to be taken in order to collect balances due. All issues, disputes, mediation or arbitration between Mike’s Loading Service, Inc. and its customers shall be conducted in Hidalgo County, Texas.
Furthermore, it should be noted that Section 217(b) of the Interstate Commerce Act (49 U.S.C.317(b)) states that payment of freight charges may not be postponed due to alleged loss or damage. Should a claim be at issue, these charges should be paid in full and a claim form be filed with the carrier to insure proper and timely notification.