TRUCKING COMPANY DUE DILIGENCE CHECKLIST
Documents to request from a seller before you buy a trucking company.
Not legal, tax or financial advice. Have a transportation attorney and an accountant review the deal before you sign.

How to use it: send the list to the seller, tick each item as you receive it, and note anything missing or unclear in the right-hand column.

AUTHORITY AND REGISTRATION                                      Received / Notes
[ ] USDOT number, MC number, date authority was granted         ________________
[ ] Copy of current FMCSA registration (MCS-150) details         ________________
[ ] BOC-3 process agent filing                                   ________________
[ ] UCR, IRP and IFTA accounts and filings for the last 3 years  ________________
[ ] State permits (oversize, weight, intrastate) if any          ________________
[ ] Any FMCSA letters, out-of-service orders or audit results    ________________

SAFETY RECORD
[ ] Public SAFER snapshot and SMS profile (print with date)      ________________
[ ] Safety rating and date, or "unrated"                         ________________
[ ] Crash list for the last 3 years with reports                 ________________
[ ] Roadside inspection reports and violations, last 2 years     ________________
[ ] Any compliance review or new entrant audit reports           ________________

INSURANCE
[ ] Current policies: auto liability, cargo, physical damage     ________________
[ ] Loss runs from every insurer for the last 3 to 5 years       ________________
[ ] Open claims and reserves                                     ________________
[ ] Premium history and any non-renewal notices                  ________________

EQUIPMENT
[ ] Unit list: year, make, model, VIN, mileage, owned or leased  ________________
[ ] Titles, or loan and lease agreements with payoff amounts     ________________
[ ] Lien search results (UCC filings in the seller's state)      ________________
[ ] Maintenance files and annual inspection records per unit     ________________
[ ] Your own mechanic's inspection of every unit                 ________________

CUSTOMERS AND CONTRACTS
[ ] Revenue by customer for the last 24 months                   ________________
[ ] Shipper and broker contracts; check assignment clauses       ________________
[ ] Rate confirmations and lanes for top customers               ________________
[ ] Accounts receivable aging and any factoring agreement        ________________

PEOPLE
[ ] Driver roster with hire dates and pay structure              ________________
[ ] Driver qualification files (sample and completeness check)   ________________
[ ] Drug and alcohol program records and Clearinghouse queries   ________________
[ ] Owner-operator lease agreements                              ________________
[ ] Key staff who would stay after the sale                      ________________

FINANCES AND LIABILITIES
[ ] Profit and loss and balance sheets, last 3 years             ________________
[ ] Tax returns, last 3 years                                    ________________
[ ] Debts, tax liens, judgments and pending lawsuits             ________________
[ ] Fuel cards, tolls and other open accounts                    ________________