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Montreal Ring Road opens Dec. 15

MONTREAL, Que. -- Forty-four years after construction began on Quebec's A30, the final section, the ring road bypassing the Island of Montreal, is completed and open for traffic. Some 50 kilometres of four-lane highway now offer vehicles a speedy alternative to the often hours-long saga crossing Montreal Island.

Eastbound traffic out of Ontario can now head south at the new interchange in Vaudreuil-Dorion, just before the Island. The toll for trucks is $1.15 per axle and for cars it is 75 cents per axle. After a roughly 40-minute drive they will pick up the old A30 and then the eastbound A20. Westbound traffic simply catches the ring road from the old A30 or Highway 132.

The savings for the Canadian trucking industry will be many: Shorter trip times will improve carrier productivity. Drivers will not burn up hours-of-service time sitting in traffic and owner/operators will earn more for the time they spend behind the wheel. Fuel consumption and wear and tear will drop too.

"I've had guys tied up for four hours in Montreal," says Gordie Atwood, recruiter and safety coordinator, Eassons Transport, Berwick, Nova Scotia. "Even an hour saved will be enough for them to get to our Mississauga terminal to rest. We are excited about it."

Martin Boivert, owner/operator and president of the Association des RoutiersProfessionnels du Quebec adds, "If you aren't stopping in Montreal, you will certainly take the A30. It will save an enormous amount of time."

E-Conomy Finance Group Ltd. a new face of factoring

E-Conomy Finance Group Ltd. was created in response to the demand for affordable and flexible factoring for trucking companies...

 

E-Conomy Finance Group Ltd. was created in response to the demand for affordable and flexible factoring for trucking companies. The two founding partners, Alexandre Nijberg and Denis Gourski have significant experience in the trucking industry and related areas of finance.

E-Conomy Finance Group Ltd.
a new face of factoring

Q. Why do trucking companies need factoring?

A. To Simply put it: cash flow. Trucking companies incur huge expenses before seeing any profit. A shortage of cash flow prevents companies from growth and may result in the failure of a business.

Factoring is a complete solution that gives access to cash.

Q. Who will be interested in your services?

A. Trucking companies at different stages of development: start up, growing and mature companies. We are working with a variety of transportation companies. Our clientele portfolio consists of companies with multimillion figures in annual turnover and single owner operators who are based in Canada and United States.

Q. How does factoring work?

A. E-Conomy Finance Group provides customized factoring designed to meet the specific needs of a client. We offer different methods of factoring and are familiar with different techniques of factoring. Our fee structure can be based either on a flat or a daily rate or combination of both.

To build a factoring facility that suits our client's best interest, we assess the client's current level of operations, immediate needs and strategic goals. Our experience allows us to facilitate any type of factoring from traditional invoice purchases to line of credit for your accounts receivable.

Our goal is to offer a factoring on better terms than any existing factoring arrangement that may be in place. This makes us very competitive with other factoring products available on the market. Based on your current accounts receivable portfolio, clientele base and terms of your factoring agreement we will propose an optimal and cost effective financial solution for your business. We guarantee that by dealing with E-Conomy Finance Group Ltd., a trucking company will save significantly on its factoring cost.

Q. Besides competitive rates, what else may attract a potential client?

A. The founders of E-Conomy Finance have 15 years of collective experience in the transportation industry. In addition to financial difficulties, trucking companies are faced with a number of organizational and administrative challenges such as office management, accounting, legal, trucking, safety management, WSIB, Labour Board and commercial carrier insurance matters. An essential part of our services are accounts receivable and credit risk management. We understand such challenges and have proven practices and techniques to help our clients to overcome them.

As a trucking company you must understand the quality of your accounts receivable pool -obviously such quality depends on the credibility of the brokers engaged in your operation. You should realize that this engagement is based on trust. Initially, a broker entrusts his load to the trucking company; in return the trucking company trusts the broker to pay on time. The broker becomes a debtor of the trucking company.

Q. How can one assess the credibility of a broker?

A. We provide our clients with set of tools to make informed decisions about the credibility of a specific broker.

This includes access to our in house credit data base search. This data is based on collective experience of dealings with thousands of brokers. We share this information with each and every client, so they can decide whether or not to work with a specific broker.

E-Conomy Finance Group has an account with Equifax, the largest credit bureau in Canada. At the request of our client we will provide an Equifax Credit Report about a party of interest.

We report to Equifax a payment history of our debtors on monthly basis. In return, Equifax notifies us about any changes in our debtors' profiles. This way our clients keep being informed on the credit status of their customers for the whole period of dealing with them.

We also use third party intelligence to collect more information about broker's ability to pay. We monitor a variety of on-line boards where the opinions regarding payment ability are posted.

These practices guarantee peace of mind to our clients.

Another significant challenge that a trucking company faces is a managing its accounts receivable. Upon receiving an invoice for factoring, we follow an established collection protocol and, will provide our client with a variety of reporting solutions concerning his outstanding accounts receivable. Our goal at this stage is to reduce outstanding days for our client's receivable.

We also provide our client with a comprehensive debt recovery program including legal representation in small claims court, and enforcement of judgment if necessary.

E-Conomy Finance Group is a young company, rapidly expanding its operation. Whether you're a growing company or a matured business we invite you to enter into dialog for potential cooperation. We guarantee that you can only gain from this discussion.