Terms of Service

Last Updated: August 2026

Introduction

BasicBlock, Inc. (“Company,” “we,” “us,” “our”) provides freight factoring services to owner-operators and small trucking carriers (“you,” “your,” “User,” “Client”). These Terms of Service (“Agreement”) govern your access to and use of our platform, services, and website at basicblock.io (the “Service”).

By accessing or using BasicBlock, you agree to be bound by these Terms. If you do not agree to all terms and conditions, do not use the Service.

1. Service Description

BasicBlock provides invoice factoring services designed for the freight transportation industry. Our Service includes:

  • Purchase of freight invoices (factoring advances)
  • Load management and tracking tools
  • Fuel advance programs
  • Real-time visibility into account status
  • Customer support and account management

We are not a lender. Factoring is a financial service in which we purchase your accounts receivable (freight invoices) at a discount. We do not guarantee payment by your freight customers.

2. Eligibility

To use BasicBlock, you must:

  • Be at least 18 years of age
  • Be a sole proprietor, partnership, or registered business entity lawfully operating in the United States
  • Hold a valid USDOT number and Motor Carrier (MC) number
  • Maintain active commercial trucking authority or be authorized to operate freight loads
  • Provide accurate, complete, and current information during registration and ongoing use
  • Comply with all federal, state, and local transportation and trucking regulations

We reserve the right to verify your eligibility at any time and to suspend or terminate service if you do not meet these requirements.

3. Account Registration and Security

Creating Your Account

When you register, you agree to:

  • Provide truthful, accurate, and complete information
  • Maintain the confidentiality of your login credentials
  • Notify us immediately of unauthorized access or security breaches
  • Use the platform only for lawful freight factoring purposes

Your Responsibility

You are solely responsible for all activity on your account. You agree not to share login credentials with unauthorized third parties and to log out of shared devices. BasicBlock is not liable for unauthorized access resulting from your failure to protect your credentials.

4. Freight Factoring Terms

Invoice Submission and Acceptance

  • You may submit freight invoices for factoring that meet our underwriting standards
  • Invoices must be for services rendered and must reflect legitimate freight transportation activities
  • We reserve the right to decline any invoice or advance request
  • Invoice acceptance does not guarantee payment by the freight customer

Advance Rates and Fees

  • Advance rates, holdback percentages, and fees are disclosed in your account agreement
  • Rates vary based on credit quality, payment history, and market conditions
  • We may adjust rates with notice as permitted by contract
  • Fuel advances, if applicable, are subject to separate terms and fuel pricing formulas

Non-Recourse vs. Recourse Factoring

BasicBlock offers both non-recourse and recourse factoring options. Terms and obligations differ:

  • Non-recourse factoring: We assume credit risk on approved freight customers; you are not obligated to repay if the customer defaults
  • Recourse factoring: You retain obligation to repay advances if the freight customer fails to pay within agreed timeframes

Your account agreement specifies which option(s) apply.

Payment and Collections

  • We collect payment directly from your freight customer when invoice matures
  • If payment is delayed, we may contact the customer on your behalf
  • You agree to cooperate fully in collection efforts and provide customer contact information
  • If a freight customer disputes an invoice, you must work with us to resolve the dispute

Holdback and Reserves

We may hold back a percentage of each advance as a reserve against chargebacks, returns, or freight customer disputes. Holdback terms are in your account agreement. Reserves are returned according to the schedule provided.

5. Fuel Advances and Prepayments

If we offer fuel advance services:

  • Fuel advances are provided at current spot rates or contracted prices
  • Fuel pricing is updated daily based on market conditions
  • You are responsible for fuel costs incurred, regardless of price fluctuations
  • Fuel advance programs may require minimum load volumes or frequency commitments
  • Unpaid fuel advances accrue at rates specified in your account agreement

6. Representations and Warranties

You represent and warrant that:

  • You own or have authority over all invoices and loads you submit
  • All information you provide is truthful and accurate
  • You have the right to assign or factor invoices you submit
  • Invoices reflect legitimate freight services rendered in compliance with DOT regulations
  • You have not and will not submit duplicate invoices or falsified documents
  • You are not under investigation by the FMCSA, DOT, or law enforcement for fraud, safety violations, or regulatory non-compliance
  • You maintain active insurance coverage required by federal motor carrier regulations

7. Your Obligations

You agree to:

  • Comply with all USDOT, FMCSA, and state/federal motor carrier regulations
  • Maintain required licensing, permits, insurance, and operating authority
  • Report any regulatory violations, accidents, or safety incidents to us promptly
  • Provide accurate load and invoice information
  • Cooperate in any disputes between you and freight customers
  • Pay all fees and charges when due
  • Maintain professional conduct with our team and freight customers
  • Not engage in fraud, misrepresentation, or illegal activities
  • Notify us of any changes to your business structure, ownership, or USDOT status

Failure to meet these obligations may result in suspension or termination of service.

8. Intellectual Property

All content on basicblock.io, including text, graphics, logos, images, software, and underlying code (the “Content”), is owned or licensed by BasicBlock and protected by copyright, trademark, and other intellectual property laws.

You may access and view Content for your personal, non-commercial use only. You may not reproduce, distribute, transmit, modify, reverse-engineer, or create derivative works of any Content without our prior written permission.

BasicBlock, the BasicBlock logo, and other marks are trademarks of BasicBlock, Inc.

9. Links to Third Parties

Our Service may contain links to third-party websites and services (e.g., freight load boards, insurance providers, fuel stations). BasicBlock does not endorse, control, or assume responsibility for third-party content, services, or practices. Your use of third-party sites is governed by their own terms and privacy policies.

10. Prohibited Activities

You agree not to:

  • Submit fraudulent, false, or inflated invoices
  • Engage in factoring-related fraud or deception
  • Use the Service to launder money, finance illegal activities, or circumvent regulations
  • Harass, threaten, or abuse BasicBlock employees or other users
  • Attempt to gain unauthorized access to our systems
  • Transmit malware, viruses, or harmful code
  • Scrape or automate access to our platform without permission
  • Violate any applicable laws, regulations, or third-party rights

11. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, BASICBLOCK SHALL NOT BE LIABLE FOR:

  • Indirect, incidental, special, consequential, or punitive damages
  • Loss of revenue, profits, data, or business opportunity
  • Failure or delay of freight customer payment
  • Load cancellations or shipper disputes
  • Freight accidents, injuries, or property damage
  • Service interruptions, technical failures, or downtime
  • Any damages arising from your use of third-party services or platforms

Our total liability to you shall not exceed the total fees you paid in the 12 months preceding the claim.

This limitation applies even if BasicBlock has been advised of the possibility of such damages.

12. Disclaimer of Warranties

THE SERVICE IS PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED.

BASICBLOCK DISCLAIMS ALL WARRANTIES, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT:

  • The Service will be uninterrupted or error-free
  • Your freight customers will pay invoices
  • Fuel prices will remain stable or favorable
  • The Service will meet your specific business needs
  • Information on basicblock.io is accurate or current

13. Indemnification

You agree to indemnify, defend, and hold harmless BasicBlock, its owners, officers, employees, and agents from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from:

  • Your use of the Service
  • Invoices or loads you submit
  • Your breach of these Terms or applicable law
  • Your violation of third-party rights
  • Disputes between you and freight customers
  • Your breach of DOT, FMCSA, or motor carrier regulations

14. Termination

By You

You may close your account at any time by contacting support@basicblock.io. Termination does not relieve you of outstanding obligations or fees.

By BasicBlock

We may suspend or terminate your account immediately, without notice, if:

  • You engage in fraud or misrepresentation
  • You violate these Terms or applicable law
  • You fail to maintain required licensing or insurance
  • We reasonably believe you pose a risk to BasicBlock or our other clients
  • Your freight customer defaults on multiple invoices

We may also terminate for convenience with 30 days’ written notice.

Effect of Termination

Upon termination:

  • Your access to the Service ends
  • Outstanding fees remain due
  • We will manage collection of any outstanding invoices
  • You remain liable for any disputes or chargebacks

15. Modifications to Terms and Service

We may update these Terms at any time by posting the revised version on basicblock.io. Changes become effective when posted unless we specify otherwise. Continued use of the Service after changes constitutes acceptance.

We may modify, suspend, or discontinue the Service or features with notice as permitted by law. We will not refund fees for discontinued services.

16. Privacy and Data

Your use of the Service is governed by our Privacy Policy, which describes how we collect, use, and protect your information. By using BasicBlock, you consent to our privacy practices.

We collect and use information necessary to provide factoring services, including:

  • Business and personal information
  • Load and invoice data
  • Payment and banking information
  • Communications with freight customers

17. Dispute Resolution

Governing Law

These Terms are governed by the laws of Nebraska, without regard to conflict of laws principles.

Informal Resolution

Before pursuing formal action, either party agrees to attempt informal resolution through good-faith negotiation.

Arbitration

Any dispute arising from these Terms or the Service shall be resolved by binding arbitration under the American Arbitration Association (AAA) Commercial Arbitration Rules. The arbitration shall take place in Lancaster County, Nebraska.

Exceptions: BasicBlock may pursue injunctive relief in court for intellectual property violations or confidentiality breaches.

Class Action Waiver

You and BasicBlock agree not to pursue claims on a class-wide or representative basis. All arbitrations are individual.

18. Confidentiality

You agree to maintain the confidentiality of any proprietary BasicBlock information, pricing, and business processes. We maintain confidentiality of your business information except as required by law or in connection with factoring and collection activities.

19. Severability

If any provision of these Terms is found unenforceable, that provision is severed, and the remaining Terms continue in full force.

20. Entire Agreement

These Terms, along with your account agreement and any additional documents we reference, constitute the entire agreement between you and BasicBlock regarding the Service and supersede all prior negotiations, understandings, and agreements.

21. Contact Information

For questions about these Terms of Service, disputes, or account concerns, contact:

BasicBlock, Inc.
Lincoln, Nebraska
support@basicblock.io

22. Additional Legal Notices

FMCSA Compliance

By using BasicBlock, you confirm that you operate in compliance with FMCSA regulations. BasicBlock reserves the right to discontinue service if you are placed out-of-service, lose operating authority, or fail a federal safety audit.

No Legal Advice

Nothing in this Agreement constitutes legal, financial, or tax advice. Consult a qualified attorney or accountant regarding factoring, tax implications, and regulatory compliance.

Survival

Provisions that by their nature should survive termination (indemnification, limitation of liability, dispute resolution, confidentiality) shall survive termination of this Agreement.

By accessing and using BasicBlock, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.