We value your client relationships. We will never contact any of your clients without permission from you or your company.
A business’s communications with its customers, particularly around finances and payment, is essential to the business relationship. So naturally, one of the first questions a business new to factoring often wants to know is how we will work with their customers, known to us as account debtors. In addition, many wonder what their customer’s perception will be of the factoring arrangement. Here is an overview of how our communications typically work at various stages.
Contact Policy
When we are first evaluating financing opportunities with your business, we will need to verify your invoices. In today’s digital landscape, it’s getting much easier to verify invoices without Fluid contacting your debtors directly. Enrolling a customer through the Fluid dashboard confirms their credit line, advance rate and lets you start sending invoices with net terms.
The next step to complete enrollment is to send the customer their first net terms invoice. They will receive an email notification indicating a new invoice with net terms is ready, pending confirming their accounts payable email and accounts payable phone number. They will also need to confirm that they have updated their AP system to pay you through Fluid.Once complete, the customer's status will update to Enrolled and any future invoices sent will be immediately confirmed.
Your customer will also have the option to create an account if they want to view their payment history, save payment methods, and manage their account with you via your online portal.
We are flexible in this process and let you lead the communications, while ensuring we get proper validation.
Once we have our agreement established, a Notice of Assignment (NOA) is sent to the debtor. The NOA informs the debtor of our financial arrangement and updates them as to where they will remit payments. The debtor then updates their information and starts paying you directly through Fluid.
What if a debtor doesn’t pay their invoice?
In the instance that a debtor is late on payment, we again work with you to manage communications as you best see fit for the business relationship. We are not a collection firm, and we are sensitive to your preferences, prioritizing your relationship with your customers at all times.