ACH & Quick Pay Application Form
**ALL PROGRAMS OPTIONAL! IF NO PROGRAM SELECTED, STANDARD PAY TERMS APPLY**
Cowan Logistics, LLC’s standard pay terms are 30 days from receipt of paperwork. Standard check payments will cut on Tuesdays. ACH and Quick Pay payments will release on Tuesdays and Fridays. ACH or QP invoices received by 12 PM EST on Monday will release on Tuesday. Invoices received after 12 PM EST on Monday and before 12 PM EST Thursday of that same week will release on Friday. *This schedule is subject to change due to bank holidays*. Fees will be deducted from the total amount due to the carrier, following any other deductions. Please be advised that payments will release on the designated days. Depending on your financial institution, it could take up to 48 hours for the funds to clear in your account. We have the ability to set up factors on our 30 day, no fee, ACH program, but must have a form on file per each carrier/MC on record. For additional information or questions, please contact our Carrier Settlements team at 1-800-967-1943 option 4; 7:30 AM EST – 4:00 PM EST Monday through Friday.
QUICK PAY VIA STANDARD CHECK OPTION (BY MAIL):
** you do not need to supply your bank info below if you are selecting this option, just sign and date bottom of form**
*Unfortunately, at this time ACH options are not available to Canadian Banks*
ACH Pay Options
(Setup may take up to six business days pending approval from financial institution. Invoices received prior to ACH bank approval will be paid via paper check.)
** You must fill out your bank info
below, supply voided check, and list an email address if you are selecting any of the above options**
I hereby authorize Cowan Logistics, LLC (“Cowan Logistics”) to initiate credit entries and, if necessary, correcting debit adjustments for any credits made in error, to my business checking account at the financial institution indicated below. If monies to which I am not entitled are deposited to my account, I authorize Cowan Logistics to direct the financial institution to return said funds.
REQUIRED: For enrollment and/or change of bank info, you must attach a voided or cancelled check or Factoring Notice of Assignment that includes your bank account and the nine-digit transit number. We can accept direct deposit forms from your financial institution (on their letterhead) in lieu of checks. No starter checks will be accepted as proof of bank account.
Please upload an image of a check from your financial institution.
Invoice payment process will begin with the receipt of carrier invoice and all required documentation, including copy of broker rate confirmation, legible BOL, POD, and receipts for all pre-approved accessorial charges. Incomplete or inaccurate paperwork will result in delay of payment.
The agreement represented by this authorization remains in effect until Cowan Logistics has received written notification from me of its termination in such time and in such manner as to afford Cowan Logistics a commercially reasonable opportunity to act on it. I represent the above referenced bank account is a business account used for commercial purposes. ACH will go into effect once Cowan Logistics’s financial institution has approved set-up.
***Please be aware that rates are subject to change due to industry standards. You will receive notification prior to any adjustments. Thank you for your business.***
Please sign here