How Does Freight Bill Factoring Work?

How Does Freight Bill Factoring Work? 

4 Steps to Immediate Funding

  1. The Client Company delivers freight to the Customer and then sends a copy of the invoice and bill of lading to the Factoring Company.
  2. The Factoring Company sends the Advance (typically 85% to 100% of the invoice amount) within 24 hrs. The balance is kept as the Reserve until the invoice is paid in full.
  3. The Customer remits payment to the Factoring Company.
  4. The Factoring Company refunds the Reserve (balance owing) to the Client.
     

steps to factoring freight bills
 


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