Freight Collect started factoring Freight Hawk Trucking Companies invoices in February of 2015. Factoring is the process of purchasing a companies receivables. In trucking a factor checks the credit of the broker/shipper, verifies the load was picked up (by the carrier sending in a bill of lading), verifies the load was delivered and what advances/deductions were taken. Then the factor immediately funds the carrier less their discount rate or fee. If the factor performs their due diligence of verifying the transaction, their risk of loss is minimal.
The relationship between Freight Collect and Freight Hawk was great at first, but we never received any statement of loads factored, only the schedule that we faxed in and the bank wire in response with no explanation.
Freight Collect Inc. Reviews
Freight Collect started factoring Freight Hawk Trucking Companies invoices in February of 2015. Factoring is the process of purchasing a companies receivables. In trucking a factor checks the credit of the broker/shipper, verifies the load was picked up (by the carrier sending in a bill of lading), verifies the load was delivered and what advances/deductions were taken. Then the factor immediately funds the carrier less their discount rate or fee. If the factor performs their due diligence of verifying the transaction, their risk of loss is minimal.
The relationship between Freight Collect and Freight Hawk was great at first, but we never received any statement of loads factored, only the schedule that we faxed in and the bank wire in response with no explanation.