Factoring

Factoring

Priority Payment

  • Updated

For a small fee, TruckSmarter Factoring will prioritize the processing and payment of your invoice. This article details how to submit an invoice that is eligible for a Priority Payment.

Priority Payment eligibility requirements

How to submit a Priority Payment invoice

Frequently asked questions

 

Priority Payment eligibility requirements

There are specific conditions that must be met before you can submit a Priority Payment — to be able to submit a Priority Payment, please note the following:

  • You have previously submitted at least 1 invoice to TruckSmarter Factoring
  • You cannot submit a Priority Payment if you are not the owner of your fleet/organization (read Managing your fleet for more information)
  • Your Notice of Assignment (NOA) has not yet been approved by TruckSmarter Factoring (read What is a Notice of Assignment (NOA)? for more information)
  • You forgot to upload both your Rate Confirmation and Proof of Delivery

 

How to submit a Priority Payment invoice

First, ensure that you have both the rate confirmation and signed proof of delivery ready to upload. Once ready, navigate through the invoice flow as usual. At the Upload documents pane, you must upload both the rate confirmation and proof of delivery documents (see the Factoring a load article for more details about this step).

Once you have uploaded your documents and you have proceeded to the final Review pane, note the Payment speed section. Select the Priority toggle to submit the invoice for a Priority Payment. At the bottom of the Review pane, the Summary section will outline the Priority Payment fee

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Once submitted, the TruckSmarter Factoring team will quickly review your invoice. Assuming there are no unexpected issues with the invoice documents that you submitted, you will be paid shortly thereafter! 

 

Frequently asked questions

I am unable to select Priority Payment, why is that?

You may not be able to select the Priority Payment option for a few reasons. See the Priority Payment eligibility requirements section for more information.

 

If I am not paid on time, will I still be charged the Priority Payment fee?

No, you will not be charged the Priority Payment fee if TruckSmarter Factoring takes longer than the proposed time.

 

When can Priority Payment invoices be submitted?

Priority Payment invoices can only be submitted at the following times:

Days of the week Time (Central Timezone)
Monday — Thursday 7:30AM CT — 3:30PM CT
Friday 7:30AM CT — 3:00PM CT