Carriers making factoring agreements: know your requirements

FactoringMoney Matters
Written By Jennifer Joslyn
Semi truck hauling a container driving down a freeway into the sunset.

Photo by Caleb Ruiter on Unsplash

A factoring agreement is a legal contract that, in short, sells your open invoices to a customer to a factoring company so that they may collect on your customer’s debts. The invoices are sold at a discounted rate so that you will receive immediate money upfront for services rendered and completed.

The rates are usually stated in the fine print, but it’s important that your company is aware of them.

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Jennifer Joslyn
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Factoring company ECapital shifts focus to larger trucking companies