Seldom is a retainage called for in a contract with a cable company ever enforced. Primes tend to enforce such retainage and are sometimes slow in settling accounts with the sub. There is one way a small operator can get most of the money they earned right away and that is through factoring.
Factoring is a fast and easy way to get the money you earned and must have right now to carry on business and expand instead of waiting 4, 6, or 8 weeks to get paid by your Cable or Telecom customer.
Simply stated, factoring works like this: You sell your rights to the payment of your customer’s invoice to a third party (E.G.: A Factoring Company). The Factoring Company then immediately advances you a high percentage of the face value of the invoice while retaining a smaller percentage until your customer settles accounts with them.
We are a factoring company and advertise on this site. We work with all sizes of contractors and sub contractors.
Innovative Marketing Systems
Re: Attn: Small Operators
Member #: 22668
Registered: 3/29/2003
Posted:
107
Name:
Frank Anderson
Name:
Frank Anderson
Company:
Innovative Marketing Systems
Occupation:
CFO
Location:
Dallas, TX
There is 1 reply to this message
