Invoice & Payment ExplainedLast Updated June 19, 2018
TNX automates invoicing and payment. Carriers execute the job and settle in TNX. The cargo owner has two working days to settle or dispute. When both sides have settled, TNX generates an invoice on behalf of each carrier and consolidates it with all other invoices. The cargo owner receives one consolidated invoice. The carriers receive a payment remittance that shows each job completed, the job price that will be paid, and the payment date.
This process is known as self-billing or buyer generated invoices. It means TNX will create invoices and payment remittance documents automatically instead of processing the invoices created by carriers.
What should a carrier expect?
- You do not need to send TNX or the cargo owner an invoice. TNX will generate an invoice & payment remittance for any job you settle and send these to you.
- After you settle a job, it may take two full days before you receive the payment remittance. This time allows for the cargo owner to dispute that the job is done. By the end of that time, we can be sure you will be paid accordingly.
- Here is an example of a payout confirmation PDF. Payout Example
- Who is liable for claims? The contract of carriage is between the cargo owner and the carrier, and does not include TNX. Claims of damages in transit, for example, are made directly with the carrier.
- Is TNX the customer or carrier? No, TNX is just a web portal and payment processor. The cargo owner is still liable to pay for the transport service. The cargo owner has selected the carrier, is providing the transport job, and agreed to the carrier’s price.
- Does TNX make money by holding payments? No, we pay the carriers on the day the cargo owner pays TNX.
- Does TNX show a different rate to the cargo owner and carrier? No, the price is agreed by the two sides and is shown clearly in the invoice and payment remittance.
- What if I want to dispute an invoiced job? The dispute can be raised with TNX and we will action it accordingly.