Carriers have access to cash for freight bills

Dec. 1, 2005
Riviera Finance now can provide freight-bill factoring for LTL and other carriers hauling multiple shipments. Using Riviera's services, small to medium-size

Riviera Finance now can provide freight-bill factoring for LTL and other carriers hauling multiple shipments. Using Riviera's services, small to medium-size carriers in all segments can now exchange their freight bills for cash.

The company can manage high volumes of paperwork quickly and accurately without disrupting cash flow to the carrier. Riviera's innovations allow most of the burdensome receivables management process to be automated, right through to the accounting for payments on a per bill-of-lading basis. In this way, Riviera can guarantee cash to the carrier within 24 hours after receipt of freight bills and backup paperwork.

In the past, Riviera was reluctant to provide factoring services to LTL and other high-maintenance carriers due to the prohibitive labor costs involved in accounting for and posting cash on hundreds or even thousands of small shipments per factored transaction. As a non-recourse factor, Riviera purchases freight bills for cash, making it necessary to track each shipment from invoice to payment.

Transportation companies interested in Riviera's factoring programs may visit www.rivierafinance.com or phone 800-872-7484.

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