Money owed to a business by its customers for goods or services already delivered but not yet paid for. In trucking, a carrier's accounts receivable are the unpaid freight invoices it is waiting to collect on.

An electronic withdrawal of funds from a bank account through the US ACH network, commonly used to settle fuel card balances or factoring payments.

The percentage of an invoice's value a factor pays a carrier upfront when the invoice is funded, with the remainder released (less fees) once the invoice is paid.

An AI system that can take actions on a user's behalf rather than only answering questions — carrying out multi-step tasks, using tools, and making decisions toward a goal, such as verifying an invoice or flagging a suspicious transaction.

A summary of unpaid invoices grouped by how long they have been outstanding. It is used to track collections and the overall health of a carrier's receivables.

The use of artificial intelligence to analyze transactions, identify patterns, detect anomalies, and help fleets make smarter fueling decisions.

Identifying transactions or fueling behaviours that fall outside normal patterns and may indicate fraud, misuse, or operational issues.

A network of approved fuel locations where carriers can purchase fuel using a fuel card while accessing negotiated pricing.

The automatic generation of fuel, spending, tax, and performance reports, reducing manual administrative work and improving visibility across fleet operations.

An invoice or receivable that is unlikely to be collected because the debtor cannot or will not pay. Bad debt risk is central to factoring and influences whether an agreement is recourse or non-recourse.

A document issued by a carrier to a shipper that details the type, quantity, and destination of the freight. It serves as a receipt, a contract of carriage, and proof that goods were shipped.

A person or company that arranges freight transportation between shippers and carriers without taking possession of the cargo.

Custom rules that determine how a fuel card can be used, including spending limits, transaction caps, approved fuel types, and fueling locations.

An unattended, automated commercial fueling site — common in Canada and for trucking fleets — where drivers access fuel using a fleet card and PIN, often at negotiated commercial rates.

A form of fraud where people capture payment card information from fuel pumps or payment terminals and use it to make unauthorized purchases.

A company or individual licensed to transport freight for hire. Carriers range from single owner-operators to large fleets, and they are the primary users of fuel cards and factoring services.

The movement of money into and out of a business. For carriers, healthy cash flow depends on getting paid for delivered loads quickly enough to cover fuel, maintenance, and payroll.

A system that consolidates fuel purchases and related expenses into a single billing process, simplifying reconciliation and financial management.

A reversal of a card transaction initiated when a payment is disputed, returning funds to the cardholder. In fuel programs, chargebacks can arise from fraud, billing errors, or unauthorized purchases.

The process of following up on and recovering payment for outstanding invoices. In factoring, the factor typically handles collections directly with the debtor on the carrier's behalf.

A key metric that measures operating expenses divided by the number of miles driven. Fuel is often one of the largest contributors to CPM.

An assessment of a broker's or shipper's creditworthiness before an invoice is funded, used by factors to gauge the likelihood of being paid.

The process of purchasing fuel in both the United States and Canada includes managing taxes, pricing differences, and compliance requirements.

The party responsible for paying an invoice — typically the broker or shipper that hired the carrier. In factoring, the factor collects payment from the debtor rather than from the carrier.

The primary fuel used by commercial trucks. Diesel prices are a major driver of carrier operating costs and the focus of most fuel discount and management programs.

The fee a factor charges for advancing funds against an invoice, usually expressed as a percentage of the invoice value. It is the primary cost of factoring.

The ability to track fuel purchases, spending activity, and fueling behaviour for individual drivers within a fleet.

A record of a driver's hours of service, including driving time, on-duty time, off-duty time, and sleeper periods.

Notifications generated when a fuel transaction is declined due to spending limits, policy violations, or other control settings.

A device that automatically records driving time and hours-of-service data to help carriers comply with transportation regulations and improve operational visibility.

Invoice factoring built directly into a broader software platform rather than offered as a standalone service. Because the platform already holds the carrier's load and payment data, verification and funding can be automated. Nomad Pay is an embedded factoring product.

The difference between an invoice's face value and the advance paid to the carrier when the invoice is funded.

The full amount of an invoice before any advance, fees, or reserve are applied — the total the debtor owes.

A commercial agent or financial company that provides cash or financing to businesses by purchasing or taking over their accounts receivable.

A financial transaction in which a carrier sells its unpaid freight invoices to a factor at a discount in exchange for immediate cash, rather than waiting weeks for the broker or shipper to pay.

The contract between a carrier and a factor that sets out advance rates, fees, recourse terms, and how invoices are submitted, verified, and collected.

The use of operational, financial, and fuel data to help fleet operators make better decisions, reduce costs, and improve profitability.

The process of overseeing vehicles, drivers, maintenance, fuel spending, safety, and operational performance.

Technology solutions designed specifically for the freight and transportation industry, including solutions for fuel management, routing, tracking, payments, and analytics.

A payment solution designed specifically for fleets that allows the purchase of fuel while providing reporting, controls, and expense management tools.

Custom rules that limit how fuel cards can be used, including transaction limits, spending caps, and location controls.

Unauthorized or deceptive fuel transactions that increase fleet operating costs. Examples include card sharing, excessive purchases, or transactions outside approved limits.

A modern approach to fuel management that combines transaction data, pricing insights, analytics, controls, and fraud monitoring to help fleets optimize fuel spend.

The process of monitoring, controlling, and optimizing fuel purchases and consumption across a fleet.

A digital tool that displays fueling locations, pricing information, and amenities to help drivers identify the most effective fueling options along their routes.

A group of fuel stations where fleet operators can access fuel using an approved payment program.

Strategies and technologies used to reduce fuel costs and improve fuel efficiency.

A fee added to freight rates to help carriers offset changes in fuel prices. Fuel surcharges are typically adjusted based on market fuel prices and can significantly impact a fleet's revenue and operating costs.

The process of tracking fuel purchases, fuel consumption, and distance travelled to calculate and submit required fuel tax filings.

Using Global Positioning System technology to monitor the location and movement of trucks, trailers, or cargo.

The period when a vehicle's engine is running, but the truck is not moving. Excessive idling increases fuel consumption and operating costs.

An agreement among US states and Canadian provinces that simplifies fuel tax reporting for carriers operating across multiple jurisdictions.

The process by which a trained AI model generates an output — such as a prediction or recommendation — from new input data.

Purchasing fuel at approved locations within a fuel network to access negotiated pricing, reporting benefits, and program savings.

A centralized digital workspace that provides real-time visibility into transactions, trends, savings opportunities, and operational performance metrics.

A bill for goods and/or services provided by the seller to the purchaser.

The release of cash to a carrier against a submitted invoice. On platforms with embedded factoring, funding can happen within minutes because the load data is already on file.

Confirming that a load was delivered and an invoice is valid before it is funded. Traditionally done by phone with the broker; on a unified platform it can be automated from existing load data.

A type of AI model trained on vast amounts of text to understand and generate human-like language. LLMs power tools that can read documents, answer questions, and summarize information.

A shipment of freight transported from origin to destination under a single agreement. Each completed load typically generates an invoice that a carrier can factor for immediate payment.

A branch of AI in which systems learn patterns from data and improve their performance over time without being explicitly programmed for each task.

A measure of fuel efficiency — the distance a vehicle travels per gallon of fuel. Improving MPG directly lowers fuel spend, a fleet's largest controllable cost.

A fuel card network — such as WEX or Comdata — that determines where a fuel card is accepted and the pricing available at participating vendors.

Fuel pricing available through a designated fuel network that might be different from retail pump prices.

A modern carrier payment platform that brings fuel management and embedded factoring together in one system, giving carriers a single view of both cost control and cash flow.

Nomad's fuel management product. It provides fuel cards, real-time spend visibility, customizable card controls, AI-powered fraud detection, and automated reporting across an accepted fuel network in North America.

Nomad's embedded factoring product. Because invoice and load data already live in the platform, verification is automated and invoices can be funded quickly — without the manual calls and paperwork of traditional factoring.

A factoring arrangement in which the factor assumes the risk of non-payment if the debtor fails to pay due to insolvency, so the carrier is not required to buy the invoice back.

A formal notice informing a debtor that a carrier's invoices have been assigned to a factor and that payment should be sent directly to the factor.

A widely used benchmark that reports wholesale and retail fuel prices across North America. Fuel discount programs are often priced relative to OPIS averages.

Fuel purchased at a location outside a fleet's approved fuel network, typically at retail price without negotiated discounts or full reporting benefits.

An individual who owns and operates their own truck, either independently or under contract with a carrier.

A payment arrangement in which a customer authorizes a company to withdraw funds directly from their bank account, commonly used to settle recurring balances such as a fuel card statement.

The use of historical and real-time data to forecast trends, identify risks, and support better business decisions.

The instruction or question given to an AI model to produce a response. Clear, specific prompts produce more useful and accurate outputs.

A signed document confirming that freight was delivered to the consignee. A POD is typically required before an invoice can be factored, as it verifies the load was completed.

An option offered by some brokers to pay a carrier faster than standard terms in exchange for a fee. It is an alternative to factoring, though usually available only from the broker that booked the load.

A discount applied relative to wholesale fuel pricing, helping fleets access lower fuel costs than standard retail rates.

The wholesale price of fuel at a distribution terminal, or 'rack,' before retail markup and station margins. Fleet fuel discounts are frequently quoted relative to the rack price.

The ability to view fuel transactions and fleet activity as they occur rather than waiting for end-of-day, weekly or monthly reports.

Instant notifications triggered when fuel purchases meet predefined conditions such as unusual spend, unauthorized locations, or exceeded limits.

A factoring arrangement in which the carrier remains responsible for an invoice if the debtor does not pay, and must buy it back or replace it. It typically carries lower fees than non-recourse factoring.