a. The book will show the advantages of working with commercial factoring companies, and how they can enable you to be the money you need faster.
The way things work is that once the load is delivered punctually The trucking company then bills the broker for the payment. It could take several months to get the cash. Trucking employees might require the money faster. This is where commercial factoring businesses can be of assistance.
Let’s take for instance that the shipping cost for the load is $40,000 After notifying the trucking company, the broker informs them that the invoice is not processed until 3 more months. A factoring business an invoice may be sent to them with a 3% commission, and the trucking company receives approximately $38,835. The result is that less cash is made as opposed to sitting it out. In the end, payment is delivered within 24 hours instead of taking months. The factoring firm then transfers an amount of $40,000 directly to the broker. 91x7wpcmbk.