Last updated: February 4th, 2025
Welcome to FactorMatch, your trusted matchmaker for invoice factoring and business credit solutions. Please read these Terms & Conditions carefully before using our services.
1. Services Provided
FactorMatch acts as an intermediary, connecting businesses seeking invoice factoring (also known as accounts receivable financing) and other business credit loans with potential lenders. We do not provide direct lending services.
2. User Responsibilities
2.1 Accuracy of Information: Users must provide accurate and up-to-date information when using our services.
2.2 Compliance: Users are responsible for ensuring their business practices comply with all applicable laws and regulations, including the Uniform Commercial Code (UCC).
3. Matchmaking Process
3.1 FactorMatch will endeavor to connect users with suitable lenders based on the information provided.
3.2 We do not guarantee that a match will be found or that users will be approved for financing.
4. Understanding Factoring Terms
While FactorMatch does not set the terms for factoring agreements, users should be aware of common industry practices:
4.1 Advance Rates: Typically range from 70-95% of the invoice value.
4.2 Factoring Fees: Usually range from 0.55% to 3.5% of the invoice amount, structured as either a flat fee or a variable fee.
4.3 Additional Fees: May include setup/renewal fees, credit check fees, minimum volume fees, and lockbox/invoice upload fees.
4.4 Payment Terms: Generally include an advance payment within 24-48 hours and the remaining balance paid upon customer payment.
4.5 Recourse vs. Non-Recourse: Agreements may be recourse (client liable for unpaid invoices) or non-recourse (factor assumes risk of non-payment).
4.6 Customer Limits: Lenders may set maximum funding amounts per customer to minimize risk.
5. Representations and Warranties
Users should be prepared to warrant that:
- Factored invoices are valid and represent actual sales
- There are no offsets or counterclaims against the invoices
- They have the right to sell and assign the invoices
- The invoices are free of liens and encumbrances
6. Security Interests
Users should be aware that factors may place liens on certain company assets as security until invoices are paid.
7. Fees for FactorMatch Services
7.1 FactorMatch may charge a fee for our matchmaking services. Any fees will be clearly communicated before services are rendered.
7.2 Users are responsible for any fees charged by lenders they connect with through our service.
8. Privacy and Data Protection
8.1 We collect and process user data in accordance with our Privacy Policy.
8.2 Users consent to the sharing of their information with potential lenders as part of the matchmaking process.
9. Disclaimer of Warranties
9.1 FactorMatch provides its services "as is" and makes no warranties regarding the services of third-party lenders.
9.2 We do not endorse or guarantee the services of any lender in our network.
10. Limitation of Liability
FactorMatch shall not be liable for any damages arising from the use of our services or the services of lenders in our network.
11. Indemnification
Users agree to indemnify and hold FactorMatch harmless from any claims arising from their use of our services or their interactions with lenders in our network.
12. Termination
12.1 FactorMatch reserves the right to terminate or suspend services to any user at our discretion.
12.2 Users should be aware that factoring agreements with lenders may have specific termination conditions.
13. Governing Law
These Terms & Conditions shall be governed by and construed in accordance with the laws of [insert applicable jurisdiction].
14. Changes to Terms & Conditions
FactorMatch reserves the right to modify these Terms & Conditions at any time. Users will be notified of any significant changes.
15. Contact Information
© 2025 FactorMatch™. All rights reserved.
FactorMatch™ is a DBA of Arrow On, Inc, a Colorado Corporation.
For questions or concerns regarding these Terms & Conditions, please contact us at:
Email: [email protected]
By using FactorMatch's services, you acknowledge that you have read, understood, and agree to be bound by these Terms & Conditions.