Switching Factors/Payments Vendors > Root Canals

Hot take, I know.

This post is obviously biased and if you want any non-biased advice on buy out best practices, I am happy to provide additional insight to anyone in this group that is interested.

When I reach out and show a Transport company or Brokerage a significantly better rate with a non-recourse option, lower cost of AR/AP labor, API integration, and their interest is peaked...rest assured that HaulPay teams have been laser-focused on how to improve and expedite this process.

We complete hundreds of buyouts a year and have a transparent. well-thought-out process to help make this transition as smooth as possible.

Step 1: Contract Review

We’ll review your existing contract terms with you.

Then you will give notice to your factor to terminate.

Step 2: Aging Review

You provide us with the aging for your current open invoices.

We’ll use the aging report to verify what we can buyout.

Step 3: Sign the Agreement

In the meantime we’ll get your new flexible contract going to review.

Easy peasy, lemon squeezy.

Step 4: Onboarding

Once the other factor accepts the buyout terms we’ll wire the money.