If you are currently using a factoring company, we will need a release letter from your factoring company.

Transcription

1 Dear TranSource Carrier Network Member, As a transportation leader, TranSource LLC understands the pressures today s carriers face from rising fuel and insurance to a cash flow squeeze when shippers take longer to pay for your services. TranSource Quick Pay is designed to address your cash flow needs. With TranSource Quick Pay, you ll have a choice of the following payment terms: Two (2) business days 3.5% fee applies Net fifteen (15) days 2% fee applies Net thirty (30) days No fee TranSource Quick Pay gives you a choice of ways to get cash in your hands quickly. We can transfer the funds directly to your checking account electronically, or if you prefer, we can mail you a check. Upon enrollment in the TranSource Quick Pay program, you can fax your invoices, signed Bill of Lading (BOL) and Carrier Confirmation sheet to our Quick Pay processing center and payment will be released within two (2) or fifteen (15) days depending on your payment terms of receipt of your paperwork. If you are currently using a factoring company, we will need a release letter from your factoring company. All the information you need to get started with TranSource Quick Pay has been included in this package. To get started, fax the enrollment form to or the forms to QuickPay@TransourceLLC.com. You can contact a member of our Accounts Payable team to confirm the receipt of your paperwork. The initial setup process can take up to five (5) business days. If you have any questions, please call TranSource Accounts Payable for more details. Sincerely, TranSource Accounts Payable QuickPay@TransourceLLC.com

2 FREQUENTLY ASKED QUESTIONS (FAQs) What if I don t want to participate in the Quick Pay program? The TranSource Quick Pay program is optional. For standard processing of invoices, please continue to process your invoices in the same manner as in the past by submitting them via to AP@TranSourceLLC.com. Where do I send my Quick Pay invoices? The preferred method for submitting invoices is via . To submit invoices by , send all documents to QuickPay@TransourceLLC.com. The TranSource Quick Pay program only applies to invoices for loads moved by TranSource Brokerage Services. Can I fax my Quick Pay invoice? Legible copies of your invoice, signed bill of lading (BOL), and Carrier Confirmation sheet can be faxed to If the paperwork is not legible, payment will be held until a legible copy is obtained. Can I choose which invoices I want to Quick Pay? Once a carrier enrolls in the TranSource Quick Pay program, all invoices for TranSource Brokerage must be processed in the Quick Pay program. Carriers cannot choose what invoices they would like TranSource to Quick Pay on an individual basis. What can I do to eliminate payments being held? When submitting an invoice for TranSource Quick Pay, please take the time to verify that the amount you are invoicing matches the Carrier Confirmation sheet you received from TranSource Brokerage at the time of dispatch. If the Carrier Confirmation does not match because additional accessorial charges were incurred, please contact the Broker who dispatched the load to get the charges approved and an updated copy of the Carrier Confirmation sheet. Call the Broker to communicate the delivery time and Transource Load Number before invoicing. What should I include with my Quick Pay invoice? When billing TranSource Brokerage Services, all invoices must reference the TranSource load number on the face of the invoice. The TranSource 7-digit load number can be located on the carrier confirmation sheet that you received at the time the load was dispatched. If the load number is not referenced on the invoice, the invoice will be delayed for payment. All invoices need to be accompanied by a signed bill of lading (BOL), and if a lumper charge was incurred, a signed copy of the receipt must also be included with your invoice. A copy of the carrier confirmation sheet should also be included with your invoice. Please verify the amount and load number on the Carrier Confirmation sheet match the invoice.

3 FREQUENTLY ASKED QUESTIONS (FAQs) CONT. Can I bill multiple loads on one invoice? TranSource will only accept one load per invoice. Summary invoices will not be processed. What are my payment choices? TranSource offers a choice of payment options, from electronic deposits to paper checks, to suit your needs and your business practices. If you would like to receive electronic deposits as your payment type, please complete the Electronic payment form included in this packet and fax it to along with a voided check. I currently use a factoring company; what do I need to do to participate? To participate in the TranSource Quick Pay program, you will need to obtain a letter of release from your factoring company for all loads pertaining to TranSource. What do I need to do to get started with TranSource Quick Pay? Getting started is simple. Please take a few minutes to review and sign the TranSource Carrier Payment Terms document. Fax the following documents to : 1. Signed Carrier Payment Terms agreement 2. Payment setup forms 3. Copy of your invoice 4. Electronic payment setup form and voided check (if you would like to receive payment electronically) 5. Release letter from your factoring company, where applicable If you have any questions, please call TranSource Accounts Payable at

4 CARRIER PAYMENT TERMS SIGN UP SHEET By executing this document, Carrier is requesting that TranSource LLC (TranSource) make early payment of freight charges per terms selected. Upon final completion of the load, and after providing necessary documentation to confirm Carrier s responsibilities without loss or damage, TranSource agrees to pay Carrier the amount of the freight bill as confirmed by TranSource, less the discount terms of the gross freight bill amount. Upon receiving necessary documents, TranSource will release payment via electronic funds into Carrier s bank account, delivery by check, or any other method that may be agreed between TranSource and Carrier. Carrier shall provide TranSource with written payment instructions and agrees to hold TranSource harmless from any claims or damages that may arise from payment by TranSource according to Carrier s instructions. Carrier understands and agrees that it may take up to five (5) business days from the execution of this Quick Pay Agreement to begin processing of the initial Quick Pay payment program. General Information Legal Carrier Name: DBA Name: Signature: Title: Date: U.S. Taxpayer ID # Canadian Safety/CVOR # Payment Option (select one) ACH or EFT Paper Check Payment Terms (select one) Two (2) business days 3.5% fee deducted from carrier invoice payment. Net fifteen (15) days 2% fee deducted from carrier invoice payment. Net thirty (30) days No fee. Payments by paper check only.

5 ELECTRONIC PAYMENT AUTHORIZATION FORM Complete this form if your payment option for the TranSource Quick Pay program is electronic funds payment. Contact Information Legal Supplier/Carrier Name: Carrier MC # Mailing Street Address: Mailing City, Street, Zip: Accounts Receivable Contact Name: Accounts Receivable Contact Phone: Accounts Receivable Contact Banking Information (provide a voided check affix on next page) Checking Savings Name on Account: Bank Routing/Transit Number: Account Number:

6 ELECTRONIC PAYMENT AUTHORIZATION FORM CONT. Finish completing this form if your payment option for the TranSource Quick Pay program is electronic funds payment. Voided Check (affix voided check here) Authorization I authorize TranSource and Financial Institution named above to automatically credit my account. The authority will remain in effect until I give written notice to cancel it. Signature: Title: Date: