Payment terms and insurance, in plain language
Or call the buying desk: (732) 996-6310
How we pay
We pay on agreed terms, and the terms for your lot are written into the offer document before you commit anything. The table below is every commercial term a careful seller asks about, answered.
| Term | Our terms | Why it matters |
|---|---|---|
| Payment methods | ACH or wire transfer. | We confirm the account details with you by phone. Nobody here will ever ask you to change bank details by email. |
| Settlement window | 3 to 5 business days. | Measured from the trigger in the row below, not from the day the truck leaves your dock. |
| What triggers payment | Verified receipt. The lot is counted and checked against your list first. | This is the single most important line on the page. It is written into your offer document before you release anything. |
| Deposit or payment on collection | No. We do not pay deposits and we do not pay at the dock. | Paying before the count would mean repricing after it, which is the behaviour this page exists to argue against. Use escrow instead. |
| Escrow | Yes, on request. | Worth using on a first transaction, or on a lot large enough that neither side wants to carry the other on trust. Ask before the offer is signed. |
| How the offer is priced | On the whole lot, against current market conditions. | If the count on arrival differs from your list, the figure is repriced against what actually arrived, and the revised number is agreed in writing before anything moves. |
| Title and risk | Both pass to us at collection, once the bill of lading is signed. | If the truck is robbed on the highway, that is our loss and your money is unaffected. |
| Who pays the freight | On lots of 100 units or more we cover the freight. Below that we agree who pays before you commit, based on the distance. | We never charge you a fee for taking the hardware, and the pickup and freight page covers how a collection runs. |
| Paperwork you get | A bill of sale, the written receiving report, and a W-9 on request. | Enough for your finance team to book the disposal and the receipt without chasing us. |
Get the terms that matter to you into the offer document before you release anything, from us or from anyone else. If a buyer will not write down the trigger and the window, that is the answer to your question about that buyer.
The same terms, as a sequence
Before the truck is booked
The offer document names the price, the freight terms, ACH or wire transfer as the method, and verified receipt as the trigger. Nothing about the money is left to be decided later.
Collection day
The bill of lading is signed at your dock. Title and risk pass to us at collection. From that moment a loss on the road is ours, not yours.
One to two days at receiving
The lot is counted and checked against your list. You get the written receiving report, item by item, including anything that came in better than you described it.
Verified receipt
The report is agreed. This is the trigger, and the clock in the next line starts here rather than at the dock.
3 to 5 business days
Funds sent by ACH or wire transfer, to the account we confirmed with you by phone.
What triggers payment
Sellers focus on the number of days and miss the more important half of the sentence. The same number of days measured from collection and measured from verified receipt are two very different promises, and the gap between them is exactly the period in which the hardware is gone and the money is not there yet.
Ours is verified receipt: the lot is counted against your list, the receiving report is agreed, and the 3 to 5 business days runs from that point. Ask every other buyer you are speaking to for the same sentence. If the answer is vague, that is your answer. The general checklist for vetting a hardware buyer covers this and eleven other questions.
If the lot does not match the list
Lists are approximate. Somebody counted a room in a hurry, a cupboard turned up after the spreadsheet was sent, or forty machines went to a different department last year and nobody told IT. This is normal and it is not treated as a problem. What matters is what happens next, and it runs like this:
- 1
We receive and count.
The lot is checked against the list you sent, at our New Jersey warehouse, which is the same address as the registered office.
- 2
We tell you what we found, item by item.
Not a revised total with no explanation. What was short, what was different, and what was better than described, because that happens too.
- 3
We agree a revised figure before anything moves further.
The receiving report is a written document. It sets out what arrived against what you listed, line by line, and the revised figure is agreed in writing before any money moves.
- 4
Settlement runs on the agreed figure.
Nothing is resold, split or shipped onward while a discrepancy is open. If we cannot agree, we return the lot to you at our cost, on the original freight terms.
The behaviour to watch for, from any buyer, is the offer that is generous on paper and then gets revised downward once the hardware is in their warehouse and your leverage is gone. The protection against it is not trust. It is agreeing the trigger, the count method and the repricing rule before the truck is booked.
Insurance, and what it does not cover
Two different insurance questions get mixed together. One is whether your building will let us in, which is a certificate of insurance question. The other is who carries the loss if something happens to the hardware in transit, which is a risk transfer question. Both are answered here.
What the cover does
- Cargo cover on the lot, on every collection we book, from loading until it reaches our New Jersey receiving location.
- Loss or damage in transit. Title and risk pass to us at collection, so that loss is ours.
- A certificate of insurance naming your building manager, landlord or colocation provider, issued on request.
- The carrier's own liability and workers' cover for the crew that arrives at your dock.
- Units that arrive damaged and were listed as working. They are repriced, not disputed.
What it does not do
- A published limit. The limit is confirmed in writing for your specific job, not printed on a website.
- Data left on drives inside the units. That is a data-handling question and it has its own page.
- Units that were not on the list and were not mentioned before the pickup.
- Handling by your own staff or your own movers, before the bill of lading is signed.
- Damage that was already on a unit when we collected it. Put it on the list and it is priced in once.
Cargo cover rides on every collection we book. We do not publish a limit, because a limit is job-specific and a number on a website is a promise sized for somebody else’s lot. Tell us what your building or your insurer requires and we confirm the limit for your job in writing before the truck is booked.
The carrier we book issues the certificate of insurance. Your organization can be named as certificate holder on it, and your building manager can be named alongside you. We arrange pickup and freight rather than operating our own crew, so the people who arrive at your dock are the carrier’s employees and carry the carrier’s cover. How a collection is arranged is set out here.
Ask us these before you agree
Put these to us, and put them to every other buyer bidding on the same lot. Ask for the answers in the offer document rather than in an email thread. Our answers to all seven are already on this page, which is the point.
- What exactly triggers payment, and how many business days after that trigger?
- How will you pay, and to which account details, confirmed by phone and not by email?
- How is the offer priced, and how is a shortfall on arrival repriced?
- At what point does title pass, and who carries the risk in transit?
- Can you issue a certificate of insurance for my building?
- Who is physically coming to the dock, and do they carry their own cover?
- What happens if we disagree about what arrived?
If our answers do not suit your risk position, do not sell to us. The rest of what you can check about this company is on the trust hub, and the drives are a separate question with a separate page.
Questions about getting paid
- When do I actually get paid?
- 3 to 5 business days from verified receipt, by ACH or wire transfer. Both the window and the trigger are written into the offer document before you agree to anything. If either is missing from an offer you receive from us, ask for it, and do not release the hardware until it is there.
- Can I get paid before the equipment leaves my site?
- No. We do not pay deposits and we do not pay at the dock, because paying before the count is what forces a buyer to reprice after it. What we will do instead is settle through a third-party escrow agent on request, which protects you without giving either side a reason to argue about the count later.
- What if the lot does not match my list?
- We tell you what we found, item by item, and we agree a revised figure before anything moves further. Lists are usually approximate and that is normal. A count that comes in over the list moves the figure the same way. If we cannot agree, we return the lot to you at our cost, on the original freight terms.
- Can you send a certificate of insurance to my building manager?
- Yes, on request. The carrier we book issues the certificate of insurance. Your organization can be named as certificate holder on it, and your building manager can be named alongside you. The limit is confirmed in writing for your specific job. Send us the building’s requirements as early as you can, because a certificate request is the item most likely to move a pickup date. The office closing page covers dock and building coordination.
- Who is liable if something is damaged in transit?
- We are. Title and risk pass to us at collection, once the bill of lading is signed at your dock. Cargo cover rides on the load from that point. Ask every other buyer for the same answer in writing, because it is a one-line answer and a buyer who will not give it to you is telling you something.
- Do you charge anything for pickup?
- No. We never charge you a fee to take the hardware. On lots of 100 units or more we cover the freight. Below that we agree who pays before you commit, based on the distance. Whichever way it falls for your lot, it is named in the offer before you agree to anything.
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