{"id":504,"date":"2025-04-18T14:34:48","date_gmt":"2025-04-18T14:34:48","guid":{"rendered":"https:\/\/get.fleetsmarts.net\/?page_id=504"},"modified":"2025-04-30T17:10:54","modified_gmt":"2025-04-30T17:10:54","slug":"agreements","status":"publish","type":"page","link":"https:\/\/get.fleetsmarts.net\/?page_id=504","title":{"rendered":"Terms of the Payment"},"content":{"rendered":"\t\t
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**Updated: April 18, 2025**<\/p>

HOW A NOTICE OF ASSIGNMENT IS ACCEPTED BY A PAYOR<\/p>

Blue Water Capital dba \u201cFleetsmarts\u201d makes it easy for Payors* to accept a Notice of Assignment (\u201cNOA\u201d) and acknowledge that Fleetsmarts has been set up as a motor carrier\u2019s (\u201ccarrier\u201d) factoring company. Acceptance of Notice of Assignment and acknowledgement shall be determined as effectuated in several ways.\u00a0<\/p>

1. Payor may press the \u201cNOA Accepted\u201d button on Fleetsmarts\u2019 email,\u00a0<\/p>

2. Payor may respond to Fleetsmarts\u2019 email indicating that Fleetsmarts is set up as the factoring company,\u00a0<\/p>

3. If Payor has a website for such things, Payor may indicate that Fleetsmarts is the carrier\u2019s factoring company through Fleetsmarts\u2019 portal,<\/p>

4. When Payor makes payments to Fleetsmarts for loads that Fleetsmarts purchases from the carrier, this is considered indication that Payor has legally accepted the Notice of Assignment from the carrier.\u00a0<\/p>

5. Payors that use a 3rd party payment service (such as Triumph Pay) to execute payments to Carriers and factoring companies indicate acceptance of the NOA when Fleetsmarts becomes listed on the 3rd party’s web portal as debtor or payee or in some other way listed as the factoring company or payee on a given load. The nature of the business of these 3rd party services is that Payors can streamline the payment process by outsourcing load affirmations and NOA acceptances to these 3rd party payment companies that build robust and efficient ways communicate with Fleetsmarts and other payees. Inherent in the use of these services is the underlying authority that Payors assign to the 3rd party company to affirm loads and accept notice of assignment legally on behalf of the Payor. As such, Fleetsmarts may legally rely on these assurances through the 3rd party payment service website the same as if it were given directly by the Payor unless otherwise indicated in writing to Fleetsmarts by the Payor. Thus anywhere in these terms where it refers to the Payor, if the Payor uses a 3rd party payment service, the 3rd party service acts on behalf of the Payor as if it is the Payor and thus the word “Payor” refers interchangeably and together to the Payor and the 3rd party payment service as the same entity.<\/p>

If Payor has already accepted a Notice of Assignment from another factoring company, then Payor must deny the carrier\u2019s Notice of Assignment to Fleetsmarts unless the other factoring company has furnished a credible Letter of Release.\u00a0<\/p>

If Payor accepts Notice of Assignments from the carrier to two different factoring companies without first getting a Letter of release from one of the factoring companies, the Payor is agreeing that the same load is being assigned to two entities and is obligating itself to pay both factoring companies for the same load if both factoring companies invoice the load.<\/p>

OBLIGATIONS OF THE PAYOR ONCE NOTICE OF ASSIGNMENT IS ACCEPTED<\/p>

Once the Payor has accepted this Notice of Assignment, unless they first obtain a Letter of Release from Blue Water Capital, payments for any of the carrier\u2019s services to any other entity other than Fleetsmarts shall not satisfy Payor\u2019s obligation to pay Fleetsmarts for those services. This includes payments directly to the carrier (including quick pay and advances for anything including unloading and loading fees) or payments made to other factoring companies or payments made to other entities on behalf of the carrier such as an unloading service. If the carrier submits Notice of Assignments to other factoring companies, the Payor shall not accept those Notice of Assignments without first obtaining a Letter of Release from Fleetsmarts. Other factoring companies may argue that their first-place security (UCC-1) gives them rights to payments. Be advised under the law and pertaining to the terms of the Notice of Assignment it does not.<\/p>

When Payor accepts a carrier\u2019s Notice of Assignment to Fleetsmarts, it agrees to the terms of the payment listed on the NOA itself and here on Fleetsmarts.net in the \u201cTerms of Payment\u201d section. Before factoring a carrier\u2019s loads, Fleetsmarts contacts the Payor seeking an \u201cAffirmation\u201d that the load will pay in full. Fleetsmarts customizes its contact method to cater to the preferred contact method of the Payor. In most cases Fleetsmarts sends an email (Subject: \u201cRATE VERIFICATION | Load number\u201d) to verify that the Payor will pay the full rate listed on the rate confirmation sheet. If the Payor clicks the green button \u201cThe load is GOOD\u201d or responds affirming the load is good in some other way, the Payor is thereby indicating that the load will pay in full. If the Payor fails to disclose any service failures at that time, then any payment to Fleetsmarts less than the rate listed on the Rate Confirmation Sheet shall not satisfy the debt for that particular load and the Payor must pay the remaining amount to Fleetsmarts and any corresponding late fees, penalties and interest* while the payment is outstanding.\u00a0<\/p>

If there are any disputes arising over unpaid payments, the venue for settling the dispute shall be Lehi, Utah.<\/p>

In absence of email Affirmation, the Payor agrees to the following 3 alternative forms of validation serve as adequate substitutions for the email \u201cAffirmation\u201d process and are both valid Affirmation to Fleetsmarts that the load will pay in full and that Fleetsmarts may rely on this information to factor the carrier in full:<\/p>

1. A verbal affirmation from its employee(s) or\u00a0<\/p>

2. A validation that the load was hauled by the carrier, viewable on Payor\u2019s website through the portal access login provided to Fleetsmarts by the Payor coupled with a Bill of Lading that is issued by the Shipper and signed by the Consignee (receiver) with no indication that there were any overages, shortages, or damages<\/p>

3. A Rate Confirmation sheet issued by the Payor to the carrier along with a corresponding and matching Bill of Lading that is issued by the Shipper and signed by the Consignee (receiver) with no indication that there were any overages, shortages, or damages<\/p>

Payor agrees that any right it may have with the carrier to offset (the ability to use payment for loads that the carrier hauled without incident to pay for other carrier debts) does not transfer to Fleetsmarts after the Affirmation.\u00a0<\/p>

If Payor pays anyone other than Fleetsmarts, the invoice will not be satisfied, the Payor\u2019s legal obligations will not be fulfilled, and the Payor will be required to pay the amount again to Fleetsmarts.\u00a0<\/p>

Also, if we obtain from the Carrier a Bill of Lading that is issued by the Shipper and signed by the Consignee (receiver) with no indication that there were any overages, shortages, or damages, that we can rely on that as conclusive evidence that the load was delivered in good order and within the specified terms and that the load will pay in full in accordance with the rate depicted on the corresponding Rate Confirmation sheet, including if there were any loading or unloading fees that were paid by the broker, that the broker will not deduct those fees from the rate.<\/p>

The Notice of Assignment may only be revoked in writing by a document entitled \u201cLetter of Release\u201d that is issued by Fleetsmarts directly to the Payor via email or mail and signed by an authorized representative of Fleetsmarts<\/p>

*Payor is an entity (example: Transportation Broker, Shipper, Receiver, Consignee) that issues a contract to a motor carrier typically through a Rate Confirmation Sheet to provide transportation services. Payment for these services may be assigned by the carrier to a factoring company such as Fleetsmarts.<\/p>

**Late fees, penalties and interest. Each week that a payment is outstanding the Payor agrees to pay a collection fee of $100 plus 18% interest per annum plus any additional itemized collection expenses Fleetsmarts incurs such as attorney\u2019s fees, court filing fees, and travel expenses. To limit these expenses the Venue is set to Lehi, Utah.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

**Updated: April 18, 2025** HOW A NOTICE OF ASSIGNMENT IS ACCEPTED BY A PAYOR Blue Water Capital dba \u201cFleetsmarts\u201d makes it easy for Payors* to accept a Notice of Assignment (\u201cNOA\u201d) and acknowledge that Fleetsmarts has been set up as a motor carrier\u2019s (\u201ccarrier\u201d) factoring company. Acceptance of Notice of Assignment and acknowledgement shall be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"class_list":["post-504","page","type-page","status-publish","hentry"],"yoast_head":"\nTerms of the Payment - Fleetsmarts.net<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terms of the Payment - Fleetsmarts.net\" \/>\n<meta property=\"og:description\" content=\"**Updated: April 18, 2025** HOW A NOTICE OF ASSIGNMENT IS ACCEPTED BY A PAYOR Blue Water Capital dba \u201cFleetsmarts\u201d makes it easy for Payors* to accept a Notice of Assignment (\u201cNOA\u201d) and acknowledge that Fleetsmarts has been set up as a motor carrier\u2019s (\u201ccarrier\u201d) factoring company. 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