Factoring for Transport and Logistics: Say Goodbye to Unpaid Invoices
Long payment terms are hindering many transport companies. Factoring provides a solution: a payment service provider takes over your outstanding receivables and pays out the invoice amount shortly after the order has been fulfilled. In the Road Freight Marketplace, our partner JITpay ™ is available to you as part of the TIMOCOM payment services. This way, you can use factoring easily and securely, benefiting from guaranteed liquidity, reduced administrative effort, and greater planning certainty.
You will receive the invoice amount shortly after the order is completed – without any long waiting times.
The handling of outstanding invoices is managed by JITpay ™. This saves you time and resources.
Clear processes and a transparent fee structure ensure security in your business operations.
TIMOCOM Payment Services: How to Receive Your Money Shortly After the Transport Order
5. Risk Assessment
Risk management checks the data and creditworthiness of your customer.
Check successful: You will receive your money as soon as possible (status "purchased").
Check negative: The invoice is rejected (status "rejected").
Pending review: In rare cases, the invoice may be set to "pending" as it cannot be purchased immediately. JITpay ™ then manages the receivable and forwards the payment as soon as it is received. In this case, please contact JITpay ™ support directly.
What does the payment service cost?
There is a small service fee for using the payment service.
The fee is based on the terms of payment that you have negotiated with your transport customer.
Payment due after | Service fee | Example €500 gross |
30 days | 2.99% of the invoiced amount | €14.95 |
45 days | 3.49% of the invoiced amount | €17.45 |
60 days | 3.99% of the invoiced amount | €19.95 |
90 days | 4.99% of the invoiced amount | €24.95 |
Insight into the freight exchange
Finde sekundenschnell passende orders aus bis zu 1 Million freight- und vehicle space-Angeboten täglich. Die hier präsentierten Angebote sind nur ein Vorgeschmack auf die Vielfalt des TIMOCOM Road Freight Marketplace.
These are the questions our customers most frequently ask about factoring:
Factoring is a way for companies to sell their outstanding receivables from one or more deliveries of goods in order to obtain immediate liquidity. The full credit risk (default risk of the debtor) is borne by the financing institution (here: JITpay™).
A factoring company (here: JITpay™) is a so-called FACTOR who buys an outstanding receivable from a company (for example, you), the CREDITOR, owed by a customer, the so-called DEBTOR. In general, the creditor receives his outstanding receivable from the factor within 48 hours*, who then claims it from the debtor.
* on working days
With factoring, you sell your outstanding receivables, i.e. your invoice to your customer, to an external company and receive a payout immediately in return. The factoring company (here: JITpay™) then assumes the full risk and the accounts receivables management.
The benefits of the factoring service include improved liquidity and cash flow optimisation, outsourcing of dunning and collection, and protection against default on receivables. Furthermore, the balance sheet reduction and thus the increase in equity (credit rating improvement) is another advantage of factoring.
There is a small service fee for using the factoring service via JITpay™. The fee is based on the terms of payment that you have negotiated with your transport customer. The fee is only incurred for actual use. There are no further costs beyond this.
Payment due | Service fee | Example €500 gross |
30 days | 2.99% of the invoiced amount | €14.95 |
45 days | 3.49% of the invoiced amount | €17.45 |
60 days | 3.99% of the invoiced amount | €19.95 |
90 days | 4.99% of the invoiced amount | €24.95 |
You must be registered with TIMOCOM and with JITpay™. You can register with JITpay™ easily in the TIMOCOM Marketplace. Once you have been verified by JITpay™, you can use the factoring service at any time via the marketplace. Registration is completely free.
You must be registered with TIMOCOM and with JITpay™. You can register with JITpay™ easily in the TIMOCOM Marketplace. Once you have been verified by JITpay™, you can use the factoring service at any time via the marketplace. Registration is completely free.
Payment is made within 24 - 48 hours* after the invoice has been submitted.
* on working days
We currently offer the factoring service to transport companies (contractors) via our partner JITpay™ in the following countries:
- Germany
- Czech Republic
- Poland
- Netherlands
- Lithuania
- Latvia
- Slovakia
- Slovenia
In non-recourse factoring, a company sells its receivables from customers to a factoring company and receives an immediate payout in return. The factoring company assumes the risk for the receivables and undertakes the receivables management (as is the case with JITpay). Recourse factoring, on the other hand, merely involves the financing of receivables by the factoring company; the risk remains with the company (i.e. the seller of the receivables).
Customers may be based in almost all countries in Europe. Customers from the following countries are excluded:
- Albania
- Andorra
- Armenia
- Azerbaijan
- Bosnia and Herzegovina
- Bulgaria
- Georgia
- Kazakhstan
- Kosovo
- Croatia
- Liechtenstein
- Morocco
- Moldova
- Monaco
- Montenegro
- North Macedonia
- Norway
- Russian Federation
- Serbia
- Tunisia
- Ukraine
- Uzbekistan
- Belarus
If you have any questions, feel free to contact our partner JITpay™ on:
+49 531 387 630 10