Transaction Fees Paid for Data That are Used in a Report 

    RIT will pay two separate transaction fees to data contributors.  The contributor who supplied the most information contained within a RIT report will receive a $.15 transaction fee.*  Additionally, the contributor who supplied the most recent information contained within a RIT report will receive a $.15 transaction fee.*  If the same contributor supplied both, that contributor will receive $.30.* Transaction fees are not industry specific.  Every report for any reason to any other industry will result in transaction fees going to the contributor of the greatest volume and most recent information.  Transaction fees are earned when the report has been paid in full and the contributor is current with all financial and compliance issues.  Transaction fees will obviously be affected when involving free or near free reports to data contributors.*

Substantial Price Discounts, Free or Near Free Report Cost  

     RIT reports will have a substantially higher price to non-contributors and a much lower price, possibly zero, for data contributors in good standing.  A contributor in good standing must be current with all financial and compliance issues.* 

     Specific information on pricing will be available after our reseller network is completed*.   

Significant Improvement in Payment and Client Behavior

Customer behavior and the frequency of on-time payments should significantly improve once clients realize that RIT is tracking the following information: 
 
     • Exact Payment Dates Indicating Precise Number of Days Early or Late
     • Payment Information: Amount, Late Fee, Partial, Paid as Agreed, Etc.
     • All Verified Objective Lease Violations Tracked by Management Software
     • And More!

Improved Customer Retention

     Many RIT features will help data contributors to improve customer satisfaction, retain customers and improve volume forecasts.

Increased Profits

    If all other factors remain constant, then less risk = less expenses = more profits. Past payment and behavior performance is the best indicator of future performance.  Reduce the risk associated with the application process by knowing the exact payment and behavior patterns of applicants before they are your customers. More customers, better behaved customers, and customers with better paying habits will result in increased profits.

More Clients and Faster Application Processing

     Within seconds the RIT repository will deliver comprehensive payment and behavior information substantially improving the thoroughness and speed of every application processed. Of course, the faster the approval process, the less time prospects will have to shop elsewhere. Also the ability to identify excellent clients with less than excellent credit along with quicker approvals will result in better clients and more of them.

Better Clients

     The right choice requires the right information and that is exactly what RIT provides through payment and behavior history directly related to the specific product or service applied for. Improving the application selection process will directly result in better tenants.

Happier Clients and Improved Employee Efficiency

     An improved screening process will naturally result in selecting clients with better behavior, therefore benefiting the entire company and business processes. Better and more efficient processes, lower costs and prices all make clients happier; happier clients make for happier employees who work with said clients. Happy employees tend to work better and more efficiently, directly improving customer satisfaction and profits.

Improved Risk Mitigation 

     Risk mitigation is the most direct benefit of obtaining an RIT report.  For years, new account/customer decisions have been based on incomplete information.  No longer. We are confident that no other product will determine the likelihood of timely payments or mitigate risk better than an RIT report; it simply has no peer.  The report is designed to contain information on every payment and behavior event of note that is both objective and verifiable for the last seven years from all previous or existing accounts regardless if credit was extended anywhere in the country updated nightly.  Within seconds the RIT repository can deliver comprehensive data substantially improving the thoroughness and speed of every application processed. 

RIT Donations to Contributor’s Favorite Trade Group/s

     Up to $.02 per report will be available to match a contributor’s donation to their favorite trade organization/s, maximum of two organizations and only for reports that have been paid in full.*

Long-Term Strategic Benefits

     If RIT had not developed a payment repository suitable for your industry, one would eventually be developed by another company, most likely associated with a credit bureau or large collection company. Unfortunately, a credit bureau would sell lists of your clients to your competitors and large national marketing companies.  A large collection company would consist of mostly negative information used to prioritize and collect other companies’ debts from your own customers before they pay you.  Either scenario would help your competitors steal your customers, redirect your clients’ money from you and involve additional negative consequences while being detrimental to the entire industry.  A better choice is obviously RIT with its balanced information, $1 profit cap, no list commitment and transaction fees making it lucrative, safe and universally beneficial to you, your industry, customers and consumers.

 
Ability to Order Reports from Current Data Vendors, Receive a Stand Alone RIT Report or Raw Data  

     The RIT report is intended as a companion to current screening products, including credit reports and may be available for purchase from the screening company of your choice, pending approval and interface completion.  Reports are relatively inexpensive and can be bundled with other products making them the perfect enhancement to all screening products.  They can be a stand alone report or can be transmitted in raw data form to be included within another product.

Improve Your Customers’ Credit 

     RIT will be an excellent source for non-traditional credit for those customers that need to establish credit worthiness.  This service is projected to be available at cost which should also help create more loyal customers. 

The “RIT No List Commitment ”    

     RIT is not in the business of selling consumer or client lists nor does it ever intend to be. To illustrate this point RIT has taken the extraordinary step of prohibiting this practice in its corporate by-laws and posting this policy on this web site.  To protect our contributors’ valuable client lists from falling into the wrong hands, RIT will not sell, give, or transfer ownership of client lists or any other sensitive information without the contributor’s express written consent.  The RIT report contains information on a specific company or individual and then only for a permissible purpose as defined by the FCRA.  It would be against the best interest of RIT to do anything whatsoever that could be detrimental to our contributors.

The “RIT $1 (One Dollar) Profit Cap Commitment ”    

     The RIT $1 profit cap is a commitment from RIT that individual or residential reports to data contributors will never be priced more than $1 over cost.  To demonstrate our commitment to this promise, RIT has taken the extraordinary step of also including this policy in our corporate by-laws and posting this policy on this web site. The amount could be far less than a dollar, or potentially even free, but never higher.*

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