Duty funding
For licensed US customs brokers
CBP duties, taxes and fees you advance for importer clients.
- BillCBP statement
- SupportingEntry summary
Subject to underwriting and executed agreements.
Cargo shouldn't wait on cash.
Send us the bill and the paperwork. We fund the payment. You repay on the cycle you already run.
The gap
Somewhere along the way, brokers became their clients' bank.
The people who move goods into this country shouldn't have to carry the government's and the carriers' payment clocks on their own balance sheets.
If you're a customs broker
U.S. Customs and Border Protection (CBP) has to be paid before the freight moves. Your client pays you weeks later. In between, it's your capital, and it caps how many clients you can take on.
- EntryYou pay CBP the duty bill
- WeeksYour capital sits in your client's bill
- LaterYour client reimburses you
If you're an importer
When carrier or terminal charges come due before the cash does, a timing gap turns into a bill that grows every day.
- Free time endsCarrier or terminal charges start
- Each dayThe invoice keeps growing
- LaterYour cash arrives
How it works
Three steps. One payment at a time.
-
Send the bill
A CBP statement, or a carrier or terminal invoice, with its supporting paperwork.
-
We fund the payment
We review the paperwork and fund the payment once it checks out.
-
You repay on your cycle
When your client reimburses you, or on the terms we agree up front.
We fund. Clearance, holds and release stay with your broker, CBP, the carrier and the terminal.
Subject to underwriting and executed agreements.
What we fund
Two kinds of import payments, at any US port of entry.
Port charge funding
For importers, directly or through their broker
Carrier demurrage and detention, and terminal storage invoices, paid to the carrier or terminal.
- BillCarrier or terminal invoice
- SupportingContainer no., B/L
Subject to underwriting and executed agreements.
What we don't do
- File entries or classify goods
- Handle customs paperwork
- Resolve holds or exams
- Release containers
That stays with your broker, CBP, the carrier and the terminal.
Freight forwarders and NVOCCs: a client's cash problem doesn't have to become your service problem. Refer a client
FAQ
Questions brokers and importers ask first
What does it cost?
Cost is set per request or per facility after we review the paperwork. We give it to you in writing before anything is funded. Subject to underwriting and executed agreements.
What paperwork do you need?
Each request: the bill and its supporting documents.
First request: bank statements, ACE statement reports (brokers), accounts receivable aging, two years of tax returns and current financials.
What security is required?
Security requirements are set out in writing during review, before you sign anything.
Will paying the carrier release my container?
Not by itself. We fund the payment only. Release depends on CBP, the terminal and any other charges on the container. Subject to underwriting and executed agreements.
Are you part of CBP?
No. Algor Funding is a private funder and is not affiliated with U.S. Customs and Border Protection.
Who can submit a request?
Licensed customs brokers at any US port of entry, businesses with carrier or terminal invoices, and freight forwarders by referral. Subject to underwriting and executed agreements.
Payment request
Send the bill.
Tell us what needs funding and attach the bill. We review the paperwork and come back to you.
Business-purpose funding only. Subject to underwriting and executed agreements.