invoice broker directtly , already with factoring

Discussion in 'Ask An Owner Operator' started by DLJ, May 29, 2018.

  1. DLJ

    DLJ Light Load Member

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    some brokers pay fast with no fee (within 15 days ) any chance we could invoce them and remove the factoring ? ,

    factoring : apex
    invoice within 20 days : 0.50 %
     
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  3. DUNE-T

    DUNE-T Road Train Member

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  4. ZVar

    ZVar Road Train Member

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    What does the contract with the factoring company say? Some allow it by contract, some require all invoices to go thru them.
     
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  5. DLJ

    DLJ Light Load Member

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    not , i may have to go over the contract
     
  6. Ridgeline

    Ridgeline Road Train Member

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    Whoa there.

    The broker is your customer, the factoring company is your service provider.

    How you handle the ap is not the factoring company's business.

    You use them at a fee to get cash flow moving, and in some cases they are used to maintain it but they can't tell you what you do to bill directly.

    I have yet to see a contract with a factoring company that makes them your exclusive ap source for your customers, and if there is a company like that, don't deal with them.
     
    Dan47 Thanks this.
  7. Doing_flatbed_nc

    Doing_flatbed_nc Medium Load Member

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    If you have not factored that broker yet, you do not have to.

    If you have, then you need to pay the factoring co to release you.
     
  8. ChromeNut

    ChromeNut Light Load Member

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    Ask Apex for release letter if you’ve already invoiced them through apex in the past. Apex contract let’s you do that. I used to be with them.
    If you never invoiced this broker through factoring, then don’t worry and invoice the broker directly.
     
  9. HWY-85

    HWY-85 Bobtail Member

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    May 29, 2015
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    There are carbonless invoice formats that you can use. Some of them come in a book format or as individual invoices. These are manual paper invoice where you have to write in the information. That way you give the broker a copy and you keep one for your own records. Take a look at trucking invoices and envelopes here.
     
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