Two of the most important actions that can be taken when working with a new broker are to check whether they are factorable, and to see if a Notice of Assignment needs to be approved by them before we are able to factor your loads. Some brokers can take up to 72 hours to approve an NOA, so its important to do it as soon as you book a load with a broker in order to avoid any payment delays.
Check for factorability
If you are booking loads outside of TruckSmarter's load board, its important to check whether that broker is factorable before you book the load. If they are not factorable, you can still haul that load, but TruckSmarter will not be able to factor it for you. Instead, you will need to bill them directly and wait for their standard payment terms in order to collect your funds.
From the factoring screen, click on Review brokers, then search to find the broker you are looking for.
Note: it defaults to only factorable brokers, so if you don't see the broker at first, remove the filter!
Send your NOA
While not every broker needs to approve a Notice of Assignment before we can purchase your first invoice with that broker, many of them do, and that can cause some pretty significant payment delays. To avoid this issue, we recommend that every time you book a load with a broker you haven't factored before, you look to see if there is NOA action required, and if there is then you should send the NOA to the broker as soon as you book the load. You can either send the NOA directly from the search screen, or you can click into the broker information and send it from there!
You will see the following states for each broker:
| Status | Reason |
|---|---|
| Action needed |
TruckSmarter does not have an NOA on file for this broker — please notify us with the "Send Notice of Assignment" button so that your NOA can be sent to the broker. |
| Pending | An NOA has been sent to the broker and we are waiting for their response. Important Note: If you have an invoice ready DO NOT wait for the NOA status to update to Approved before submitting it. Some brokers will not switch from Pending to Approved status without an invoice being submitted. |
| Approved |
The broker has approved your NOA — we have directly confirmed the broker has your NOA or the broker does not require advance NOA approval. |
| NOA Not Required |
The broker does not require us to confirm your notice of assignment before factoring your load with them. |
Review Broker Information
There is additional information within the Broker Management page to make sure you have as much information about the broker you are looking at as possible. You can review the email domain to ensure a load you are booking is legitimate, view their FMCSA registered address, review their Surety Bond information, amongst other information.