The answer to this question will apply to any factor you deal with. This is very common especially with the first initial funding. If this occurs, the check must be sent to us immediately. Your company should never deposit checks that are to be applied to factored invoices. Your customer will be notified to pay us directly in the future.
The last thing we want is for you to lose a customer. We are not a collection agency. We will never harass your customers for money. Maintaining your customers’ goodwill and confidence are of utmost importance to us!
If an account debtor (customer of our client) who is unfamiliar with factoring questions the notice of assignment and asks what is going on, the business owner only needs to tell them they have chosen to use a company to manage and finance their accounts receivable.
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