Hi, Joe I am ready to launch my freight brokerage. However, Single Point factoring advised, they will pay me, the broker within 24 hrs. of receiving the bill of lading and rate confirmation. The issue is, they will pay carriers on a NET 30. I cannot ...
We are reporting ongoing non-payment issues involving Eko Solutions (operated under Land Betterment). Our company, along with several others in the industry, has experienced unpaid invoices for transportation services completed in good faith. Despite ...
We do the next business day, if received after cut off. Traditionally our cut off has been EOD (normally 5PM) but we are looking at possibly moving that to a 4PM cut off to allow processing same day. Our theory here, if we don't check the mail (once ...
I am hoping to understand how others handle net 30 pay terms when you receive a carrier invoice after hours, over the weekend, or over a holiday. Do you start the net 30 clock on the next business day or always on the day that the invoice was received? ...
Were you able to find a factoring partner? Wintrust is a $65Bn bank that provides factoring lines of $2MM+ to freight brokerages. Happy to discuss if you'd like. Joe ------------------------------ Joe Panico Senior Vice President Wintrust Bank ...
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