Factor & Fund Terms and Conditions
Effective Date: 01/01/2025
Factor & Fund (“FF”, “F&F”, “we”, “our”, “us”) is a registered Doing Business As (DBA) name for Quofundis, Inc., a legally registered business entity. Any references to “Factor & Fund” within these Terms and Conditions shall be understood to mean Quofundis, Inc. All agreements, obligations, rights, and liabilities entered into under the name “Factor & Fund” are legally binding upon Quofundis, Inc.
1. Acceptance of Terms
By using the services provided by Factor & Fund (Quofundis Inc.), including but not limited to invoice factoring and cash flow financing, you acknowledge and agree to these Terms and Conditions. These Terms constitute a legally binding contract between Factor & Fund and the Client. Use of our services, including submitting an application, signing a factoring agreement, or engaging in invoice factoring transactions, implies acceptance of these Terms. If you do not agree with any part of these Terms, you must discontinue use of our services immediately.
2. Services Offered
Factor & Fund offers factoring services, accounts receivable financing, and related cash flow solutions for businesses. Our services involve the purchase of outstanding invoices and advancing funds to businesses based on their receivables.
2.1 Invoice Factoring
We provide invoice factoring services where we advance funds against unpaid invoices. The advance is typically up to 90% of the invoice value, and once the invoice is paid by the customer, we deduct our fees and remit the balance. Factor & Fund offers recourse factoring, meaning the Client is ultimately responsible for unpaid invoices. If a debtor fails to pay within the agreed-upon period, the Client agrees to repurchase the invoice and reimburse Factor & Fund in full. Factor & Fund retains the right to collect outstanding amounts from the Client’s future invoices, hold reserve funds, or take legal action to recover unpaid balances.
2.2 Fees and Rates
Our rates for factoring range from 2.25% to 7% per invoice, depending on the invoice’s duration and risk level. An additional 1.5% approval fee is charged as a one-time fee per deal, which is only applied once per contract with the same customer. You agree to these fees upon entering into a factoring agreement with us.
2.3 Service Availability
We reserve the right to modify or discontinue any of our services, temporarily or permanently, with or without notice.
3. Eligibility
To use our services, you must:
- Be a legal business entity operating in the United States.
- Provide accurate and complete business and financial information during the application process.
- Comply with all applicable laws, regulations, and these Terms and Conditions.
4. Client Obligations
As a client of Factor & Fund, you agree to the following:
- Provide Accurate Information: You must provide accurate, up-to-date information regarding your business, financial status, and invoices. Failure to provide accurate information may result in the termination of services or legal action.
- Compliance with Invoices: You agree to submit legitimate invoices that represent actual goods or services provided. Submitting fraudulent or altered invoices will result in the immediate termination of services and potential legal consequences.
- Customer Payments: You must ensure that your customers are aware of their obligation to pay Factor & Fund directly, according to the terms of the factoring agreement.
5. Payment and Fees
All factoring fees, advances, and other charges are payable as outlined in your factoring agreement. If a Client fails to fulfill payment obligations for repurchasing unpaid invoices, Factor & Fund may: (1) apply a late payment penalty of 2.5% or more per month on unpaid balances, (2) withhold funding for future invoices, or (3) initiate legal collection actions, including UCC lien enforcement and claims against personal guarantors.
- Factoring Fees: Fees are deducted from the payment made by your customer. Once the invoice is settled, you will receive the remaining balance, minus our fees.
- Approval Fees: A 1.5% approval fee is applied as a one-time fee per deal. This fee is deducted from the first financed invoice and is not charged again under the same contract with the same customer.
- Late Payment: If your customer fails to pay within the agreed-upon period, additional charges or interest may apply.
6. Security and Privacy
Your use of our services is subject to our Privacy Policy, which outlines how we collect, use, and protect your information. By using our services, you agree to the terms of our Privacy Policy.
- Data Security: We implement reasonable security measures to protect your data. However, we cannot guarantee the absolute security of data transmitted online.
- Third-Party Disclosure: We may share your information with third-party service providers as needed to deliver our services, subject to the terms of our Privacy Policy.
7. Limitation of Liability
Factor & Fund shall not be liable for any indirect, incidental, or consequential damages, including loss of profits or revenue, resulting from your use of our services or any reliance on our services. Our liability is limited to the amount of fees paid to us during the use of the services in question.
- No Guarantee: We do not guarantee the success of any factoring or financing transactions. The performance of our services is contingent on the accuracy of the information you provide and the actions of your customers.
8. Termination of Service
We reserve the right to terminate or suspend your access to our services at any time, without notice, for any of the following reasons:
- Breach of these Terms and Conditions.
- Submitting fraudulent invoices or misrepresenting your financial situation.
- Failure to pay fees or comply with your factoring agreement.
- Any other actions deemed harmful to the interests of Factor & Fund.
9. Intellectual Property
All content, materials, logos, and intellectual property on the Factor & Fund website and within our services are owned by us or our licensors. You may not copy, distribute, modify, or create derivative works from our materials without explicit written consent.
9.1 Accessibility Disclaimer
Factor & Fund is committed to providing an accessible online experience for all users. We strive to ensure our website complies with the Americans with Disabilities Act (ADA) and Web Content Accessibility Guidelines (WCAG) 2.1. If you experience difficulty accessing content or need assistance, please contact us at ff@factorandfund.com or (888) 884-4823. However, Factor & Fund shall not be liable for any accessibility-related claims or damages arising from third-party content or software limitations beyond our control.
10. Governing Law & Dispute Resolution
These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of California. Factor & Fund, operating as Quofundis Inc., retains all rights to enforce these Terms under its legally registered business entity. Any dispute arising under these Terms shall first be subject to mandatory arbitration in Los Angeles, California, before any legal action may be filed in court. Each party agrees to waive the right to a jury trial. Factor & Fund shall be entitled to recover attorney’s fees and costs incurred in enforcing these Terms.
11. Changes to Terms
We reserve the right to modify these Terms and Conditions at any time. Any changes will be posted on our website, and your continued use of the services after such changes have been made constitutes your acceptance of the revised Terms and Conditions.