Standard payment timelines
Method | Typical timing |
Quick pay (broker-offered) | 1–7 days, often for a 2–4% fee |
Standard terms | 30 days from POD |
Slow brokers | 45–60 days (avoid if possible) |
Factoring | 24 hours after submitting POD, for a 1–5% fee |
Documents you need to submit to get paid
Signed Bill of Lading (BOL) — picked up at origin, delivered at destination, signed by the consignee.
Proof of Delivery (POD) — usually the signed BOL, sometimes a separate delivery receipt.
Invoice — your company info, broker info, load number, rate con number, amount due, payment instructions.
Lumper receipts, scale tickets, accessorial backup — if applicable.
Factoring — should you use it?
Factoring = selling your invoices to a finance company for fast payment, in exchange for a small percentage.
Pros:
Get paid in 24 hours instead of 30 days
No collections work — factoring company chases the broker
Credit checks on brokers included (huge benefit)
Cons:
Costs 1–5% of every invoice
Some contracts have minimums or termination fees
You give up some control over collections
When it makes sense: new carriers with thin cash reserves, or any carrier running enough volume that 30-day waits would break working capital.
Common factoring companies: OTR Capital, RTS Financial, Apex Capital, TBS Factoring, and many others. Shop rates and terms before you sign — contracts vary widely.
Quick pay vs. factoring
| Quick pay | Factoring |
Speed | 1–7 days | 24 hours |
Cost | 2–4% | 1–5% |
Who you work with | Broker | Third-party |
Best for | Occasional fast cash | Every-load cash flow |
A lot of carriers use factoring for new brokers (because the factor runs the credit check) and quick pay for trusted brokers (cheaper, no third party).
Red flags on a broker's pay
Asking you to sign a rate con with >60-day terms — walk.
Listed as slow pay by your factoring company — be careful or pass.
MC authority recently activated (less than 6 months) — extra due diligence.
Has multiple negative reviews in carrier communities — pass.
What to do if a broker doesn't pay
Day 31 (or whenever terms expire): send a polite invoice reminder.
Day 45: call the broker directly, ask for a payment date in writing.
Day 60: file a claim against their broker bond (BMC-84) via FMCSA. Most brokers carry a $75,000 bond and bond claims are a real lever.
Day 60+: consider a freight collections firm or small claims court.
If you used a factoring company, this is their job — let them work it.
Tip
Inside Load Work, leave internal notes on every broker after you finish a load: how fast they paid, how easy they were to work with. This pays off six months later when you're deciding whether to take their next load.