Factoring

Factoring

What is a Notice of Assignment (NOA)?

  • Updated
🧠 Note that TruckSmarter's Factoring business is known as "SmartTrucker". Please refer to SmartTrucker when you are talking with brokers about your factoring company!

 

What is a Notice of Assignment?

The Notice of Assignment (NOA) is a document signed by a factoring company and carrier that informs brokers of the agreement to purchase your receivables. It includes important details like the factoring company's address and banking information, and ensures the broker sends payment to the right place.

When you sign up with new brokers, they will ask for your payment information — please be sure to provide a copy of your NOA. Sending it to them in advance can help avoid delays in the payment process. Please make sure to choose standard 30 day pay with new brokers! 

Many brokers do not frequently update their list of factoring companies, so SmartTrucker may not be an option. If you observe this, simply select “Other". If "Other" is not an option, leave it blank and attach your NOA anyway.

 

Broker status

Please note that some brokers will not allow SmartTrucker to invoice them until they have confirmed and processed your NOA. To help you with this process, we will send your NOA to the largest brokers on the TruckSmarter Load Board after you sign up for factoring. Lastly, if there are any brokers that you regularly work with but they do not have your NOA, let us know and we can send them your NOA on your behalf. Read more about how to send your NOA to brokers in our Broker status article.