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Safest Way to Get Paid by Brokers?

Discussion in 'Ask An Owner Operator' started by PE_T, Feb 27, 2020.

Page 2 of 2
  1. Feb 29, 2020 #11
    Oscar the KW

    Oscar the KW Going Tarpless

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    Factoring isn’t going to be anymore safe I wouldn’t think. I have never factored anything, but doesn’t a factoring company ACH you your money?

    What’s to prevent a factoring company from being hacked?
     
    Oscar the KW, Feb 29, 2020
    Oscar the KW, Feb 29, 2020
    #11
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  3. Mar 4, 2020 #12
    Miles2Go

    Miles2Go Bobtail Member

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    You couldn't be more spot on about that! When you take quick pay from a broker you are negotiating how fast they pay you instead of how much they pay you, meaning lower load values and higher profit margins for the broker you haul the load through. You make more by waiting out the net 30 pay terms. Most are unable to do that right off the bat, which is where factoring comes into play.
     
    Miles2Go, Mar 4, 2020
    Miles2Go, Mar 4, 2020
    #12
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