Call Today!

Frequently Asked Questions

What happens if my customers are unable to pay?

What happens if your customer doesn't pay depends on the type of factoring product you choose; recourse, or non-recourse factoring.

  • With recourse factoring, you're liable if your customer doesn't pay. Fees for recourse factoring are lower than non-recourse factoring because recourse factoring is low risk to the factoring company. That's because the risk associated with payment remains with you, the seller. If, due to unforeseen complications, your customer doesn't pay within 90 days (or an agreed upon time), you become responsible for full repayment of the invoice amount.
  • Non-recourse factoring provides a level of insurance if your customer doesn't pay. The difference with non-recourse factoring is that the factoring company purchases your invoice and absorbs the credit risk associated with the invoice. If your customer doesn't pay, the factoring company absorbs the cost. Like all factoring products, this form of invoice financing is based on you doing business with creditworthy customers and their ability to pay invoices in a timely manner.

If the reason for non-payment is an issue related to non-performance by you, or if an invoice is not paid within 90 days (or another agreed upon timeframe), Accutrac typically will ask you to exchange the invoice for another invoice of comparable value. At your request, we'll also provide collection services.

Go Back

Invoice Factoring & Discount Fuel Cards for Trucking Industry
Questions? Contact Us!

Cash Advance | Invoice Factoring | Cost Saving Solutions
Services for the Trucking Industry

Yes I would like to receive your newsletter.
Slide this bar to the right to enable submitting.
Questions? Contact Us!

Cash Advance | Invoice Factoring | Cost Saving Solutions
Services for the Trucking Industry

Yes I would like to receive your newsletter.
Slide this bar to the right to enable submitting.