USA Truck Inc. announced that it recently was Performance Certified by the Transportation Intermediaries Association at the $250,000 bond level, making the Van Buren, Ark.-based a participant in TIA’s Guaranteed Payment Program. The certification was awarded following a six-month payment and vetting process and is valid through June 30, 2012.
“This is a huge step for USA Truck’s SCS segment, and we are very excited about it,” says Mike Weindel, executive vice president of USA Truck and chief operating officer for SCS and Intermodal. “TIA is known for its rigorous performance standards, and we worked hard to qualify for this elevated surety bond. We have committed ourselves to success with our SCS product line, and it is important to show our customers that USA Truck cares about managing their business responsibly.”
To become Performance Certified, TIA requires that its members be in good standing, abide by the TIA Code of Ethics and carry a credit score of 90 percent or above. Being Performance Certified is intended to further enhance the level of trust between the broker and the forwarder-motor carrier.
In order to apply for higher bond amounts, applicants also must obtain the required $10,000 financial guarantee from TIASurety/AMTEX, a division of TIA Services Corp. Applicants must complete a Performance Certified Program application, along with a signed indemnity agreement, and undergo a financial insurance review to determine qualifications for the options of the additional bond limit.