The new payment guarantee program for TIA members is underwritten by Aviation Risk Management and Lincoln General Insurance Company and extends coverage above the US Department of Transportation mandated $10,000 requirement for all licensed transportation brokers. Called P3, the program offers three levels of freight payment guarantee: the standard $10,000, a $25,000 level, and a top-level guarantee of $100,000. “The Guaranteed Payment Program (GPP) is an industry breakthrough,” says Robert Voltmann, TIA president and CEO, “and it proves that TIA members are the best 3PLs in the market—we guarantee it.”
In addition to a commitment to the TIA Code of Ethics, members participating in the payment guarantee program undergo a higher level of scrutiny.
Those accepted into the program can display the P3 logo with the corresponding level of guarantee (P3 10 for $10,000 payment guarantee, P3 25 for $25,000, and P3 100 for $100,000).
At the initial announcement of the program, Voltmann listed six TIA member companies that had confirmed their participation at the $100,000 level. They include, Choptank Transport Inc. (Preston, MD), Midwestern Transit Service Inc. (Ashley, IL), Triple T Transport Inc. (Lewis Center, OH), Freight Tec Management Group Inc. (Bountiful, UT), Virginia Hiway Inc. dba VHI Transport (Chester, VA), Twin Modal Inc. (Roseville, MN), and Des Moines Truck Brokers Inc. (Norwalk, IA).