How Agent Payment Works
Merchants are advanced 80% of face value of accepted and verified invoices, Once the invoice is paid by the party billed, a fee is assessed for using the factoring suite, agents are paid 5% of the fee assessed, all payments of fees are collectively sent out on or before the 21st of the month the fees show paid.
For instance- bills trucking factors an amazon invoice, when Amazon pays the invoice the fee is assessed
The month for fee collections starts on the first of each month and ends the last day of the month, then the following month the report and commissions are sent to the agent.
The model of residual income is ongoing through the life of the file, for instance, if the client stays on the books for 10 years, you will receive monthly residual income monthly from the deposit every month for that 10 year cycle