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I heard of a company that deducts 3.5 percent for factoring their loads from O/o payments? Is that a standard practice?
Does the O/O lose money from Factoring?
- Thread starter ShipHapens
- Start date
Factoring costs money. If you obtain the services of a factoring company you will pay a fee for it. That is standard practice.
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If you use a factoring company it is 100% expected to have a fee. Depends on the policy for that factoring company. Which if you are using one, should have a contract for your. If you are asking about if a company you work for has paid you with "quick pay", then they most often charge you a fee. Some companies may not. 3.5 % is pretty standard.