💡 Summary #
If your business starts working with new customers or signs new contracts, you can easily add them to your Factor & Fund account.
Each new buyer (debtor) must be verified before invoices can be funded — ensuring that every transaction remains secure, compliant, and fully approved.
⚙️ When to Add a New Buyer #
You’ll need to request buyer verification when:
- You begin invoicing a new customer not yet on your approved list.
- You sign a new contract or purchase order with a different client.
- A current buyer changes their company name or payment address.
🟦 All new buyers must be vetted before funding begins to maintain compliance and protect your business.
🧩 Step-by-Step: Adding a New Buyer #
1. Gather Buyer Details #
Prepare the following:
- Company legal name
- Contact person (Accounts Payable)
- Email and phone number
- Company address and website
- Copy of your purchase order, contract, or invoice sample
2. Submit Buyer Information #
Send the buyer details to your account representative or upload via your secure portal.
Use the subject line:
New Buyer Verification – [Your Company Name] – [Buyer Name]
📧 Email: ff@factorandfund.com
3. Buyer Verification by Factor & Fund #
Our team performs a risk and credit check based on your new buyer’s information:
- Secretary of State business registration
- Payment history and credit score (if available)
- Online reviews, lawsuits, or red flags
- Confirmation that the buyer is the actual payer for the invoices
Verification typically takes 1 business day.
4. Buyer Approval Notification #
Once approved:
- You’ll receive a confirmation email.
- The buyer will receive a Notification of Assignment (NOA).
- You can begin submitting invoices immediately.
If the buyer is declined, we’ll share the reason and help you evaluate alternatives.
🧾 Adding New Contracts with Existing Buyers #
If you’re expanding business with an already-approved buyer:
- Simply send a copy of the new PO or contract for your records.
- Factor & Fund will update your client profile.
- No new verification is needed unless buyer details change.
✅ Tips for Smooth Approval #
- Provide accurate contact info for buyer’s Accounts Payable department.
- Always attach at least one invoice or contract to verify legitimacy.
- Inform your buyer that Factor & Fund will reach out for a short verification call or email.
❓ FAQ #
Can I add multiple new buyers at once?
Yes. You can submit a list of buyers for batch verification.
How often can I add new buyers?
Anytime — there’s no limit as long as verification is completed before funding.
Do I need to sign a new agreement for each buyer?
No. Your master Factoring & Security Agreement covers all approved buyers.
