COASTAL ARCHAEOLOGY JOBS

* They may have poor reporting. * You need to make sure they do not have a hefty termination fee, lets say for what ever reason you may need to terminate the relationship, what will it cost you.

Pros:

1. * You may get a better fee structure due to locking in on a term contract.
2. When choosing a factor here are several questions to ask them before you sign up: * Do they bulk your receivables; in other words, when you sell them your receivables, do they release your reserves as each invoice is paid, or do they wait for all the receivables to collect from a given schedule before they release your reserve.

As an example, you sell a factor 100k in receivables on one schedule which consist of four different customers at 25k each, two of your customers pay the invoice within 30 days and the other two pay in 45 and 60 days. That would mean you would have to wait until the last customer pays at 60 days before you get your reserve, this is not good, try to avoid signing up with a factor that does this. * Ask about additional fees, do they have a service charge or any fees on top of the discount. This is not uncommon if you are set up on a prime plus rate, yet it still needs to be accounted for when choosing between factors. You may get some smoke and mirrors from conversations and proposals. When you receive the contract that will spell it all out, take the time to add up all fees to accurately and compare proposals, the one that seems to be the highest at first may not be that far. off.

Ask about up front fees.

* Some factors charge a due diligence fee, this can range from $250.00 to $500.00 dollars, even higher for construction. Stay away from application fees, they are not necessary. A due diligence fee is okay and understandable since the factor does have cost associated with opening an account, however some factors do not even charge any up front fees.