Asset-based Lending & Factoring
Modernizing Financial Transactions with RMail
Factors and asset-based lenders are using RMail to save time, cut costs, and expedite transactions. By combining proven email proof and e-contracting technologies with custom reporting analytics, RPost delivers a powerful solution that lets you easily and confidently move from paper to electronic for even your most sensitive, business critical correspondence.Factors are using RPost’s Registered Email service to virtually eliminate disputes about whether or when notices (such as notices of assignment, notices of default and borrowing base certificates) were received by email. Factors also report that the service puts an end to the common “I never got the invoice” excuse for slow-paying debtors, by providing the factor with verifiable proof of when the invoice was electronically received. With the factor retaining irrefutable proof of receipt of the invoice, the start time of invoice aging is firm, empowering the factor to increase cash by collecting on late payment penalties.
In addition to proving delivery of notices, factors must exercise ‘control’ over documents such as electronic chattel paper to ensure their enforceability under UCC Article 9. RPost’s Registered Email service not only proves delivery and adds weight to email evidence, but also meets these ‘control’ requirements.Read Corporate Counsel Guide for Factors and Asset Based Lenders:.
Many Possible Uses
- Convert notices from paper to electronic while retaining delivery proof
- E-sign loan/security documents and contracts
- Expedite collections
- Confirm collateral by email with proof of sign-off
- Complies with industry best-practices for proof of required notifications and verifications
- Minimizes disputes attributed to missing, misplaced or denied receipt of notification emails
- Speeds invoice collections with proof of invoice delivery irrefutably starting the accounts receivable aging clock
- Simplifies administrative burden and reduces time to sign-off contracts, confirmations, and asset value verifications
- Eliminates any dispute about precisely whether or when your notifications (regulated, contractual, courtesy) are received by email.
- Minimizes cost to a fraction of delivery services like courier/certified mail.
- Provides the highest level of proof of content, time, and delivery for notification emails without requiring recipient to take any action.
- Eliminates the common “I never got the invoice” excuse for slow-paying debtors, by providing verifiable proof of receipt.
- Eliminates the need to reset A/R invoice aging and optimizes cash flow.
- Enables electronic legal sign-off of the many asset verifications, confirmations, and contracts.
- Simplifies record-keeping, as all delivery receipts are sorted automatically, stored electronically
Hear From Our Customers:
Jonathan Schuster, Chief Operating Officer, Premium Financial Services
“RMail is extremely useful for confirming Notices of Assignment and tracking critical client and debtor email communication.”
Bert Goldberg, Executive Director, International Factoring Association
” RMail provides a unique and cost saving opportunity for the Factoring Industry. By using the RMail service, Factoring companies can greatly reduce their expenditures on mail and overnight services while still receiving proof of delivery and proof of contents.”
J.W. Reed Jr., President and CEO, Jhanira Capital Funding
“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. RMail 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.”
Jon Neiditz Head of Information Management, Locke Lord Bissell & Liddell
“RMail’s Registered Receipts provide admissible evidence of Registered Email message delivery, official time sent and received, and authenticity of message content. By utilizing RMail, we would also argue, not only is the email admissible, but the authentication of its content and context may lend it greater credence than traditional receipted mail, courier, and fax alternatives. 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. RMail’s authentication techniques are likely to meet these ‘control’ requirements.
- "Legal Opinions-United States"
- "RPost E-Signature Services Cited As A Strong Performer By Independent Research Firm"
- "Legal Electronic Notice and Signature Requirements: A Corporate Counsel Guide for Factors, Asset-based Lenders & Financial Intermediaries"
White Paper by Robert Braun and Stanley Gibson