VAN BUREN, Ark., Oct. 31, 2011 /PRNewswire/ -- USA Truck, Inc. (NASDAQ: USAK) announced that it was recently Performance Certified by the Transportation Intermediaries Association at the $250,000 bond level, making the Company one of only 21 with a bond for that amount and 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," said Mike Weindel, USA Truck's Executive Vice President and Chief Operating Officer for SCS and Intermodal. "TIA is known for its rigorous performance standards, and we worked hard to qualify as one of the few with 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 Corporation. 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.
James Ingram, operations manager for Dawn Foods, said USA Truck's brokerage service has been "exemplary across the board" during their 1 1/2-year working relationship. "USA Truck sets the bar high with its customer service," Ingram said. "They continually do an excellent job of not only handling our loads, but following up to make sure our needs are met. They also go above and beyond to ensure our satisfaction. It feels good to partner with a company that takes such great pride in its work. USA Truck is well worthy of TIA's highest Performance Certified level."
TIA is the professional organization of the $162 billion third-party logistics industry. TIA is the only organization exclusively representing transportation intermediaries of all disciplines doing business in domestic and international commerce. TIA is the voice of transportation intermediaries to shippers, carriers, government officials and international organizations. TIA is the United States member of the International Federation of Freight Forwarder Associations (FIATA).
USA Truck is a dry van truckload carrier transporting general commodities via our General Freight and Dedicated Freight service offerings. We transport commodities throughout the continental United States and into and out of portions of Canada. We also transport general commodities into and out of Mexico by allowing through-trailer service from our terminal in Laredo, Texas. Our Strategic Capacity Solutions and Intermodal operating segments provide customized transportation solutions using our technology and multiple modes of transportation including our assets and the assets of our partner carriers.
This press release and related information will be available to interested parties at our web site, http://www.usa-truck.com under the "News Releases" tab of the "Investors" menu.