The booking deposit fee is a fee you (the Provider) pay Truckit.net when your quote is accepted by a Customer.
Why does Truckit.net charge a booking deposit fee?
There are costs involved with running the Truckit marketplace so we must charge a booking deposit fee to maintain and improve the marketplace for all.
The booking deposit fee is used to cover costs such as payment processing, security and safety, IT management and development as well as marketing to ensure the most possible jobs are available for you to access.
How is the booking deposit fee calculated?
The booking deposit fee is calculated as a percentage of the Total Quote Amount and works on a sliding scale based on the value of your quote. The higher the quote value, the lower the percentage. The minimum fee is $10 and the maximum fee is 13% of the Total Quote Amount. The fees can vary by category of freight.
How can I tell what my booking deposit fee is?
When placing a quote on a job, you will see two boxes in the quote form: 'Total Quote Amount' and 'Provider's Amount'. Simply enter a value in the Total Quote Amount box and the Provider Quote Amount will populate automatically and vice versa. The difference between the two values is the booking deposit fee and can vary by job value, category and other factors.
You can also find the value of your booking deposit fee by going to Account Settings>My Financials and viewing the table there.
How do I pay the booking deposit fee?
The booking deposit fee is only charged once your quote has been accepted.
If your quote is using payment terms 'Truckit Pay', the booking deposit fee will be automatically deducted from the payment released to you upon confirmed delivery of the job.
If your quote is using any other payment terms, the fee will be automatically deducted from the Booking Deposit paid to us by the Customer. i.e. you do not have to pay us the fee, the deposit paid by the customer will be retained by us as the fee.
How is the booking deposit fee related to tax/GST?
Truckit.net is registered to pay GST, so our booking deposit fee includes a percentage of GST in line with Australian laws.