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Factors Save Time & Money with RPost’s Registered
E-mail Service
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December 19,
2007
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Endorsed by International Factoring
Association, RPost Provides Cost-Effective
Method for Sending Electronic Notices to
Clients and Debtors with Delivery Proof |
LOS ANGELES—December 19, 2007—RPost®,
the leader in managed outbound messaging, today
announced that the factoring industry is widely
adopting RPost as the service platform for
business-critical communications with clients and
debtors. Today, more than 20 factoring companies
rely on RPost, including AeroFund Financial Inc.,
Jhanira Capital and United Capital Funding Corp.
The International Factoring Association has endorsed
RPost’s Registered E-mail® messages as a viable
method for factors to send important communications
such as notices. RPost saves time and money over
traditional paper-based communication methods
factors typically used, including fax and certified
mail, resulting in great efficiency. Using RPost’s
Registered E-mail services, all notices can now be
sent, tracked and proven with the click of a button.
“RPost’s Registered E-mail service receipts provide
admissible evidence of Registered E-mail message
delivery, official time sent and received, and
authenticity of message content. By utilizing RPost
services, we would also argue, not only is the
e-mail admissible, but the authentication of its
content and context may lend it greater credence
than traditional receipted mail, courier, and fax
alternatives,” states Jon Neiditz, head of the
information management practice of Locke Lord
Bissell & Liddell. “This is significant not only in
adding to the weight of the evidence in general, but
because in addition to proving delivery of notices,
factors must exercise ‘control’ over documents such
as electronic chattel paper to ensure their
enforceability under Article 9 of the Uniform
Commercial Code. RPost’s authentication techniques
are likely to meet these ‘control’ requirements.”
A specialized type of financing, factoring is the
business of purchasing and collecting accounts
receivables or of advancing cash on the basis of
accounts receivables. One legal document for the
industry is chattel paper, which shows both a debt
and a security interest in specific goods, and
parties secured under it must make sure any changes
to the authoritative copy are readily identifiable
as an authorized or unauthorized revision. Factors
are required to send official transaction notices
and maintain detailed delivery records to prove
notices were sent and received. Most factors rely on
fax, courier, and certified mail to send important
communications, and they retain all relevant fax
confirmation slips and mail receipts to prove
delivery in case of dispute. The process is often
frustrating, expensive, time-consuming and fraught
with inefficiency.
“We needed a solution that could speed-up the
process of transferring critical documents and more
importantly protect us from debtors and clients who
claim they didn’t receive a notification requesting
or receiving a payment,” said J.W. Reed Jr.,
president and CEO of Jhanira Capital Funding. “RPost
gives us legal proof of delivery of all
notifications we send, so now we can spend less time
on administrative tasks such as follow-up calls to
ensure receipt and more time on mission critical
business tasks.”
RPost enables factors to leverage the efficiencies
and cost-savings of e-mail for managing their
business communications. Registered E-mail can be
used when needed for an average cost of $0.59 per
message, far less than overnight delivery or
certified/registered snail mail, and works with any
e-mail address.
Service Benefits—Factoring the Time- and
Cost-Savings of Registered E-mail services:
• Ensures that notices are enforceable by meeting
legal requirements for delivery
• Minimizes cost to a fraction of delivery services
like courier/certified mail
• Reduces sending time to the speed of e-mail
• Eliminates the hassle of follow-up calls to
confirm notice delivery
• Gives factor the upper hand in any dispute
involving notice content or delivery status
• Increases responsiveness since the recipient is
aware that factor has official proof of delivery
• Simplifies record-keeping, as all delivery
receipts are sorted automatically, stored
electronically
“Factoring is an information-intensive industry that
requires painstaking delivery and management of
transaction notices associated with assignment and
chattel paper, and until now hasn’t been able to
fully realize the efficiencies of e-mail,” said
Zafar Khan, CEO of RPost. “RPost provides a simple,
inexpensive solution to the shortcomings inherent in
standard e-mail because it proves the content of
messages and their delivery to every Internet mail
destination and provides verifiable evidence of the
transaction in case of a dispute. A major
convenience for factors is the pure simplicity of
the service which does not require the e-mail
recipient to sign up for the service or maintain
additional user names and passwords.”
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