Quick pay
Quick pay is a broker's offer to pay a carrier's invoice earlier than the standard terms in exchange for a discount on the invoice amount.
Updated
The phrase is also used by factoring companies to describe fast funding, which is a different transaction with a different counterparty. Broker quick pay is a discount you take from the party who already owes you. Factoring is a sale of the invoice to a third party. Confirm which one a document means.
In practice. You opt in per load, usually in the broker's portal, after the paperwork clears. There is no contract and no filing against your receivables. The two variables are the discount percentage and the number of days, and carriers routinely compare the first while ignoring the second.
Availability is the real limitation. A quick pay program only helps on loads from brokers who offer one.
Example. A broker offers 2% at two days on a $2,400 invoice. The discount is $48 and you receive $2,352 on day 2 instead of $2,400 on day 41. You bought 39 days of cash for $48.
Why it matters for your cash flow. On loads where it is available, quick pay is usually the cheapest way to close the payment gap. It does nothing about a broker who never pays, because an unpaid invoice never reaches the quick pay stage.
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Movik Editorial
Freight finance desk
The Movik editorial desk covers freight payment, factoring and carrier compliance. Posts are reviewed against the underwriting and document-processing work the team does daily.
Written and fact-checked by the team that underwrites carrier funding applications at Movik.