TCI Business Capital factoring: rates and terms

What TCI Business Capital publishes

• Rate: not published
• Advance: not published
• Recourse: not published
• Reserve: not published
• Payout fees: not published
• Contract term: not published
• Leaving: not published
• Minimums: not published
• Other fees: not published

Filled: stated on TCI Business Capital's site. Dashed: not published on the pages we read.

Clauses from a signed TCI Business Capital agreement

From Factoring, Security and Service Agreement (EX-10.1) with Winland Electronics, dated 2010-12-21, filed with the SEC. An old agreement with a non-trucking client shows the clauses this factor's paper has used, not today's terms.

"This Agreement, along with the rate, volume commitment and other terms on rate sheets, shall automatically renew every Twenty-Four (24) months unless Client gives TCI written notice to the contrary at least Sixty (60) days prior to the expiration thereof."

"will accrue and accumulate during this Agreement and will be due and payable in full upon the demand of TCI or ... upon termination"

Volume shortfall charge.

"No reserve will be returned on delinquent Accounts until all delinquent Accounts are paid in full."

"if any Account has not been paid in full to TCI for any reason whatsoever within 75 days ... TCI may require Client to repurchase the Account"

"a three hundred and ninety-five dollar ($395.00) setup fee"

"Client hereby designates TCI as its agent to receive and open Client's mail"

How to get out of a factoring contract

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