Factoring

Factoring

Broker status

  • Updated

The status of a broker is an important indicator to see if you are ready to factor with a specific broker. This article will explain how to quickly send a Notice of Assignment (NOA) to your broker and prevent any delays in payment from TruckSmarter.

Notify TruckSmarter early

Requesting an NOA

Checking the broker status

 

Notify TruckSmarter early

TruckSmarter must send an NOA to your broker before you can start factoring loads for that broker with TruckSmarter. It's important to note that broker response times vary significantly and TruckSmarter has little control over their timing. As a result, there might be a delay in payments, especially for your first invoice with a broker.

To avoid delays, we recommend that you request an NOA through the TruckSmarter app early so that the broker can begin processing your NOA as soon as possible!

 

Requesting an NOA

To ensure your invoices are factored in a timely manner, we ask that you send your NOA to the broker when you book the load in the TruckSmarter app. You can request the NOA directly through the TruckSmarter app by clicking the Request NOA button on the Factoring screen from the Factoring tab:

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If TruckSmarter already has the broker's contact information, then you do not have to submit the phone and email number (left image below) — if TruckSmarter does not have the broker's contact information, you will have to enter it manually (right image below):

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💡 When submitting the broker email address, make sure to include the email address associated with the Accounts Payable or Invoices department.

 

Checking the broker status

You can view if a broker has approved your NOA by clicking the Broker status button in the Factoring tab:

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A broker will be in one of the following states:

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. 

 

If a broker is marked as Action needed, you can initiate the NOA process by clicking the Send Notice of Assignment button:

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After initiating the NOA process, the broker status will update to Pending:

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