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What if I use a factoring company?

Convoy can work with any factoring company, but most carriers choose to save money with Convoy QuickPay™. QuickPay is available on every qualifying Convoy load and it’s completely free, no fees or factoring points. 

However, if your factoring agreement obligates you to factor all loads or if you just prefer to work with a single payer, go to your Payment Profile and select "I use a factoring company.” 


Once you’ve completed the necessary information, we will work with your factoring company to obtain a Notice of Assignment (NOA) that will allow us to process payments to your factoring company. Please note, you are required to provide a BOL in order for Convoy to pay your invoice, whether payment is direct to you or to a factoring company.


Can I still get free QuickPay if I use another factoring company?

You can still earn free Convoy QuickPay as long as you never submit a Convoy invoice to your factoring company. Once you have submitted a Convoy invoice to your factoring company, Convoy receives a Notice of Assignment (NOA) and we will not be able to provide you with Convoy QuickPay. 

If you later decide you’d prefer direct payment from Convoy, your factoring company will need to provide a Letter of Release to before Convoy can send you direct payment.

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