Who does C.O.D. Finance approve?
C.O.D. Finance approves 100% of customers (retailers/buyers) for lines of credit. The only requirements for approval are that the customer has a brick-and-mortar store front within the United States as well as a United States bank account.
For how much are customers approved?
Customers are approved on a case-by-case basis. Where one customer may be approved for $500, another may be approved for $50,000. There are no maximum or minimum amounts that a customer may be approved for.
How do you determine the amount for which a customer is approved?
C.O.D. Finance relies on a unique system for approving customers for credit lines. This method includes, but is not limited to, a bank reference, a reference from the vendor (wholesaler/manufacturer), the customer’s history with C.O.D. Finance, as well as the length of time that the customer’s company has been in business.
How much does it cost to register as a vendor? How much does it cost to use the service?
Registering as a vendor with C.O.D. Finance is free. Your Service fee will be based on your C.O.D. volume as well as your funding requirements.
Are vendors under any obligation to utilize C.O.D. Finance’s services?
Vendors that register are under no obligation to utilize C.O.D. Finance’s services, nor are vendors required to provide us with any specific number of customers or for any specific volume.
How do I register as a vendor with C.O.D. Finance or find out additional information?
Ask to speak with an Account Executive or email firstname.lastname@example.org, for information regarding becoming a C.O.D. Finance supplier.
Does C.O.D. Finance approve international vendors?
Yes. However, at this point in time, C.O.D. Finance only approves customers located within the United States. Customers located outside of the United States, including U.S. entities such as Puerto Rico, are not currently capable of receiving credit from C.O.D. Finance.
How long does it take for a customer to be approved by C.O.D. Finance?
Upon receipt of a customer’s completed registration form, C.O.D. Finance will approve that customer typically within 48 hours.
When can I ship to the requested customer?
Once C.O.D. Finance has approved the order, vendors will receive a confirmation email verifying that the merchandise may be shipped. Once you receive this Approval Email from C.O.D. Finance, then you can ship the order.
What fee is the customer charged and how do I document this?
The customer is charged 1.5% for their first 30 day check-hold term with C.O.D. Finance. This 1.5% fee would be included in the total amount of the invoice, just as merchandise and shipping costs.
What if a customer wants more than 30 day terms?
Upon their registration, customers are provided log in information. Once logged in, customers are able to monitor their checks and extend them for additional lengths of time.
How do I ship to the customer, and why do I ship this way?
Shipments are sent C.O.D. to the customer. Sending merchandise C.O.D., whether through FedEx or UPS, requires that the customer provide a check at the time of shipment in order to receive that merchandise.
Who is the check made out to?
Customers make their checks payable to “C.O.D. Finance c/o (Your Name Here)”
Do customers postdate their checks?
Customers do not postdate their checks. The 1.5% C.O.D. Finance Service Fee included on the invoice ensures the customer that their check(s) will be held for at least 30 days from the date it is written.
What do I do with the customer’s check once I receive it?
Once received, vendors electronically scan their checks with the check scanner provided by C.O.D. Finance. Then, vendors mail customer checks to C.O.D. Finance. Registered vendors are provided with postage pre-paid, pre-addressed envelopes for mailing their checks to C.O.D. Finance.