Factoring Policies
— a reliable long term business partner for
all your short term cash flow needs
all your short term cash flow needs
Frontline Funding Credit representatives are available to assist you Monday through Friday from 9 AM to 5 PM EST.
Factoring Policies
Please refer to our Funding Instructions for additional information or call us at (888) 858-0018 if you have questions or need assistance.
Funding Deadlines
We process new funding sheets all throughout the day, however, please note that wires are only released at 11am and 4pm. Approved Assignment Schedules will be funded following their approval by your Client Advocate. If you have an urgent funding need, please contact your Client Advocate by telephone. Assignment Schedules submitted to Frontline Funding after 12:00 PM EST will not be processed until the following business day.
Assignment Schedules
To ensure proper funding we encourage you to submit all invoices on no more than one Assignment Schedule on a daily basis. Please contact your Client Advocate at (888) 858-0018 if you expect to submit multiple Assignment Schedules in one day. If you plan to submit more than 10 invoices per Assignment Schedule, we recommend using our Excel invoice spreadsheet for ease of processing.
Invoice Verification
Frontline Funding may contact your debtor to verify your invoice documents and its billing requirements. We do this to ensure proper funding, invoice remittance, and collections. Frontline Funding reserves the right not to fund an invoice if it does not meet our verification standards.
Credit Checks and New Account Debtors
If you are unable to find a particular account debtor in our database, please contact our Credit Department at (888) 858-0018 and provide the company name, city, state, and telephone number. We will provide you with information as to whether the debtor is approved or denied for factoring. In addition, you can submit our Funding Instructions form, and we’ll contact you with our credit recommendation. Please remember, this is not a credit guaranty, merely a confirmation whether Frontline Funding approved a funding limit for this debtor or not. Credit information is updated daily, and the approval status of debtors is subject to change without notice. You are required to notify of us of any new debtor relationship prior to submitting your Assignment Schedule to Frontline Funding. We reserve the right to not fund invoices for any debtor that does not meet our credit standards.
Debtor-by-Debtor Basis
Once you submit an Assignment Schedule and factor an invoice for a particular account debtor, you must continue to factor every invoice for that debtor. Frontline Funding notifies those debtors of the assignment of your account. Should you invoice the debtor directly, they are obligated to remit payment only to Frontline Funding. If you want to start directly billing a debtor that you previously factored and assigned, contact your Client Advocate at (888) 858-0018 and request a Release Notice on the debtor. If your account is in good standing, and we have no open invoices with the debtor, we’ll grant your release request.
Short Paid Invoices
If Frontline Funding is short paid by the account debtor on an invoice you factored, we will immediately deduct the amount from your next settlement or your reserve. It is your exclusive responsibility to reconcile the short payment with the debtor. Once an invoice is paid, it is considered closed and immediately reconciled against your account.
Reserves
We post collections received on a daily basis and provide a Collection Report (emailed at the end of the day) that shows funds were applied to your cash reserve. Cash reserve releases are subject to approval by your Client Advocate and are accessible the next business day following customer receipt. A collections report is also available in Customs Reports.
Recourse
Our recourse program means that at 90 days, invoices are eligible to be charged back to your account. Invoices that are 90 days old will be charged back and deducted from your next settlement or your reserve. In cases where we have no firm payment confirmation, it is your exclusive responsibility to reconcile invoices that are 90 days old with the debtor. Once an invoice is past 90 days old, it is considered closed and immediately reconciled against your account.
Misdirected Payments
Occasionally, debtors may forward payment to you on invoices we factor, despite our Notice of Assignment. You are required to notify us immediately should you receive a misdirected payment. Misdirected payment checks should not be cashed and should be mailed to Frontline Funding. Failing to disclose receipt of a misdirected payment may subject you to a misdirected payment fee as detailed in our Master Purchase and Sale Agreement.
Reports
We provide access to a variety of reports on this client website; online reports are not intended to be final, because they are provided on a real-time basis and subject to change. In addition to the reports available through this client website, Frontline Funding will provide your company with a number of transactional reports by email. Reports such as a Purchased Schedule Report and a Collections Received report will be emailed for any day that account activity occurs. We are also able to email additional month-end reports to assist account reconciliation. Please contact your Client Advocate to indicate which reports you would like delivered by email.