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Reynolds Surpasses Halfway Point of Project to Develop State F&I Forms Libraries NationwideDAYTON, Ohio, Sept. 21, 2016 /PRNewswire/ -- The Reynolds and Reynolds Company today announced that Reynolds Document Services has developed 30 state-specific Reynolds LAW® brand finance and insurance (F&I) documents libraries, surpassing the midway point to a goal of creating LAW F&I libraries for all 50 states. The Reynolds LAW brand F&I libraries contain a comprehensive suite of standardized F&I documents developed to help meet the business needs of new vehicle retailers in the specific state. "F&I paperwork can be exacting and demanding both for dealerships and for their customers," said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services. "The F&I forms in use are often sourced from different vendors, may be outdated, or may have other inconsistencies – all of which can raise compliance risk for dealers and add confusion for dealership personnel and car buyers." "With each state-specific F&I forms library, we've built a trusted resource for dealers to better manage all of the forms necessary to complete a deal; better meet federal, state, and city F&I paperwork requirements; and deliver a more consistent, rewarding experience to car buyers at the dealership." Kirwan said each state-specific LAW forms library is designed to deliver the following for automotive retailers:
Kirwan concluded: "To surpass the midway point of creating an F&I forms library for every state is a testament to our team's document development knowledge and compliance expertise, as well as to the printing and fulfillment capabilities of our forms manufacturing operation. We look forward to the completion of this project nationwide and to the ongoing work of maintaining the F&I forms libraries. Our team will continue to regularly review and update the documents to incorporate dealer and OEM feedback and keep pace with current legislation and regulatory requirements." About Reynolds LAW Brand Documents The flagship product of the LAW brand is the Reynolds LAW® 553 Universal Retail Installment Sale Contract, which is the most widely accepted document in auto finance. The Reynolds LAW 553 is regularly reviewed by industry experts to help keep pace with new legislative and regulatory developments. Dealers who use the LAW 553 find they can use one contract to finance dealers through multiple lending institutions. About Reynolds Document Services About Reynolds To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/reynolds-surpasses-halfway-point-of-project-to-develop-state-fi-forms-libraries-nationwide-300331773.html SOURCE The Reynolds and Reynolds Company |