Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

Channel Management Dealer Reviews SOP

Issued by:
Approval Date: 06/19/2015
Approved by:

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Senior Risk Executive (SRE)

Page 1 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

TABLE OF CONTENTS
Page Number
1.

Scope

1.1

Applicability

1.2

Effective Date

2.

Overview and Purpose

3.

Process Steps

3.1

Requirements

3-12

3.1.a

New Dealers

3-9

3.1.b

Process Steps for AML/Compliance Screening

3.1.c

On-going Dealer

3.1.d

Process Steps for New Payee Onboarding

3.2

OI Product Reviews

11-13

3.3

Banking Information Verification

13-14

3.4

System of Record

9-10
10-11
11

14

4.

Roles and Responsibilities

14

5.

Governance

14

5.1

Review, Renewal and Approval

5.2

Exceptions

6.

Revision History

7.

Appendices

15
15-18

Appendix 1 Key Terms & Definitions

16

Appendix 2 Bank Verification Options Grid

17

Appendix 3 Bank Info Form Authorized Signer Requirements grid

18

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 2 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

1.

Scope

1.1

Applicability

This Standard Operating Procedure applies to

1.2

Current Effective Date:

06/22/2015

excluding Wholesale.

Effective Date

This Procedure shall be effective as of June 22, 2015.

2.

Overview and Purpose

The purpose of this Procedure is to set forth

guidelines for Channel Management (CM)s processing requirements for Initial and On-going Dealer
Reviews and Office Imaging (OI) Product Reviews.
3.

Process Steps

3.1

Requirements

3.1.a

New Dealers

All new Dealers applying to do business through an approved program must go through an initial review
process conducted by the Channel Management team. This is referred to as a Dealer onboard
screening.
The following attributes are evaluated during the screening:

OR (obligor rating) Score a

methodology that accesses the probability of default of
someone seeking credit and assigns a representative number

Corporate Standing status of an organization with respect to being current on statutory dues
and the filing of required reports within a state

Address & Site Verification validation of the dealers address to ensure it is an accurate
reporting of the dealers location, and that the location is non-residential and appears equipped
to conduct sales in their industry. Acceptable sources for Address Verification are Lexis Nexis,
Google, or Google Maps search by address. Acceptable sources for Site Verification are Google
Maps Aerial View, and
Employee visit.

Tenure the length of time a dealer has been in business

Standard industrial classification (SIC) Code a numerical code that indicates an organizations
industry segment affiliation within the economy

AML/Compliance Screening: a review using the Bridger Enterprise (Bridger) system to check for
Irregular Business Practice (IBP), Adverse Media, Office of Foreign Asset Control (OFAC) and
Watchlist, where applicable. Please refer to:
AML/KYC Policy for further guidance.

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 3 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

Original Equipment Manufacturer (OEM) Authorization an agreement between a dealer and

an OEM to sell the OEMs equipment

Strategic Alliance Agreement (SAA) a legal agreement between

and the dealer that
contains, among other things, Terms & Conditions and Reps & Warranties

The below, Dealer Onboarding/Reactivation Criteria Matrix (Matrix A), provides guidance on
screening decisions for a variety of Dealer programs.

OI

Diversified
Programs
(Formerly CS)

APPLE

OTHER IT

DOOSAN/
BOBCAT

NACCO

OR Score

16

13*

15

15

Per Whol es a l e
Deci s i on

16

TENURE

1 Yr

2/4 Yrs

3 Yrs

2 Yrs

Per Whol es a l e
Deci s i on

2 Yrs

Requi red
1) Requi red for > $1MM
LVO
2) Requi red for a ny a dd'l
product a pprova l s

Requi red

Requi red

N/A

Per Whol es a l e
Deci s i on

Requi red

N/A

N/A

N/A

Requi red

Requi red

OEM AUTHORIZATION
NEW VENDOR
AGREEMENT
DOCUMENTATION

* OR14 & OR15 can be approved if beneficial owners are identified and are clear on Bridger and adverse media searches

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 4 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

The Dealer Onboarding/Reactivation Exceptions Matrix (Matrix B) further outlines exception

criteria and approval authority levels:
Attributes

Approva l Authori ty Level s

Channel Management Analyst
Channel Management Leader

OR Score

2 OR Score va ri a nce a bove requi rement

3 OR Score va ri a nce a bove requi rement
s ta ted on Ma tri x, ma xi mum of OR16 ba s ed s ta ted on Ma tri x, ma xi mum of OR16 ba s ed
on expert judgment.
on expert judgment.

Corpora te Sta ndi ng

Si te Vi s i t

Excepti on ca n be ma de i f dea l er i s
regi s tered i n one s ta te w/condi ti on tha t
wi thi n 60 da ys they regi s ter i n s ta te they
a re doi ng bus i nes s .
Ma y a pprove ba s ed on:
1) Uti l i ty bi l l (other tha n phone)
2) Ma nta
3) Dea l er webs i te(i f onl y for a new bra nch
of a n otherwi s e previ ous l y es ta bl i s hed
dea l er)
4) New fa ci l i ty l ea s e a greement
5)
empl oyee vi s i t
No a uthori ty to wa i ve requi rement

Tenure

No a uthori ty to wa i ve requi rement

Addres s Veri fi ca ti on

SIC Code (Stri ke Zone) Proper SIC code No a uthori ty to wa i ve requi rement
for progra m
AML/Compl i a nce Screeni ng See Page 7 No a uthori ty to wa i ve requi rement
& 8 Process Steps for AML/Compliance
Screening

Ma y a pprove s us pended or i na cti ve a ny

formerl y regi s tered enti ty. Ca nnot
a pprove termi na ted or revoked.
Ma y a pprove ba s ed on:
1) Uti l i ty bi l l (other tha n phone)
2) Ma nta
3) Dea l er webs i te(i f onl y for a new bra nch
of a n otherwi s e previ ous l y es ta bl i s hed
dea l er)
4) New fa ci l i ty l ea s e a greement
5)
empl oyee vi s i t
Us i ng di s creti on a nd expert judgment,
ma y wa i ve s i te vi s i t requi rement (except
for Transportation Programs in which a site
visit is required on all)
Us i ng di s creti on a nd expert judgement,
ma y wa i ve tenure requi rements or s et
a l terna ti ve cri teri a
Ma y wa i ve thi s requi rement wi th revi ew
of a l terna ti ve evi denci ng

OEM - Authori zed by Ma nf.

No a uthori ty to wa i ve requi rement

FOR IBP's ONLY - Ma y overturn a "true

hi t"/"do not proceed" upon res ea rch a nd
di s cus s i ons wi th compl i a nce tea m. Wi l l
provi de documenta ti on of joi nt deci s i on
i n the a ppropri a te s ys tem.
No a uthori ty to wa i ve requi rement

New Vendor Agreement

Documenta ti on

No a uthori ty to wa i ve requi rement

No a uthori ty to wa i ve requi rement

Examples include:
Strategic Alliance Agreement (SAA),
Resellers Agreement, Dealer Reserve
agreement, etc

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 5 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

MATRIX C SIC Code Strike Zone Guidance

SIC Code
Category

Description
OI

2500 Furniture And Fixtures

Diversified
Programs
(Formerly CS)

APPLE &
OTHER IT

NACCO

3500 Industrial And Commercial Machinery And Computer Equipment

3600 Electrical and Electronic Equipment Except Computers

X
X

3700 Transportation Equipment

3800 Instruments and Related Products

3900 Miscellaneous Manufacturing Industries

5000 Wholesale Trade-durable Goods

5100 Wholesale Trade-nondurable Goods

5200 Building Materials, Hardware, Garden Supply, And Mobile Home Dealers

5300 General Merchandise Stores

5500 Automotive Dealers And Gasoline Service Stations

5700 Home Furniture, Furnishings, And Equipment Stores

5900 Miscellaneous Retail

7300 Business Services

7519 Truck Rental/Leasing, without Drivers

X
X

X
X

Process Steps for new Dealer Onboarding (excluding TFS):

1.

The sales team creates a Partner record in SalesForce and creates a Siebel Activity.

Activity Type = CM-Dealer Review

Activity Purpose = VR-New Vendor App or VR-New Vendor with Deal

The activity resides in the CM queue (visible to

and CM Analysts)

2.

In addition to the items in #1 above, an auto-Submittal is sent to Siebel with Dealer Review
Submittal Type and entered into the Siebel Touchless Flow process, where the Dealer is entered
as a customer. A Submittal number is generated with the results of the credit review which
includes an OR rating, SIC code, Adverse Media and KYC/IBP screening results.
verifies
legal name, corporate standing and tenure using the individual SOS (secretary of state) websites.
Info from this verification is entered as a record in Siebel. Results of the Adverse Media check,
along with Dealer owner name check in Bridger (if applicable), are entered in Siebel. A Paynet
Report is also pulled.

3.

assigns the Activity to the CM Analyst queue. The CM Analyst performs additional
review confirmations including Paynet Report, address, OEM and site visit verifications. The CM
Analyst will then decision the Dealer using the program guidelines. Siebel is updated to show
the decision and the Activity is assigned back to the CM Analyst queue.

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 6 of 18

Subject:

Original Approval Date:

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Channel Management Dealer

Reviews

Procedure No.
200-14

updates the Activity Comments with the decision, and proceeds with creating the

VVLOC.
4.

5.

Current Effective Date:

06/22/2015

The VVLOC is created in Siebel and this information is fed to both Cheetah and SalesForce with
the below classifications.

If declined, the activity is marked DONE and the Dealer is in REJ (rejected) status. The
sales team is notified that the Activity is done and the Dealer is unapproved. They
may appeal the decision - See step 7 below. If not, this ends the Dealer onboarding
process for rejected Dealer.

If approved but program requires an SAA, the activity is marked DONE but the Dealer
is in PND (pending) status. The sales team is notified and the Dealer is pending until
executed SAA is returned and approved.

If approved but program does NOT require an SAA, the activity is marked DONE and
the VVLOC is placed in appropriate approval status. The sales team is notified that the
activity is done and the Dealer is approved to start submitting deals. This ends the
Dealer onboarding process for approved Dealer.

If the Dealer is in PND status:

a.

Activity Type = CM -Vendor Program Agreement

Activity Purpose = VPACreate SAA

Approved templates for SAAs are stored in HotDocs

b.

The Activity is assigned by

to the CM Analyst Queue. The CM Analyst
customizes the SAA for the specific Dealer ensuring the legal name is correctly
stated, and other blanks are properly filled. The Activity is marked DONE and a
copy of the Dealer specific SAA is stored in the Documents tab under the Siebel
Partner. The sales team is notified that the SAA is ready to be presented to the
Dealer for signature.

c.

Upon execution of the SAA by the dealer, the sales team will create another
Activity for the executed SAA.

d.

Policy Owner:
Policy Contact:

The sales team will, at their discretion, create another Activity thru SalesForce to
initiate the SAA document creation.

Activity Type = CM-Vendor Program Agreement

Activity Purpose = VPAExecute SAA

The Activity is assigned by

to the CM Team. The Analyst will verify that
the returned document matches the original (unaltered) and confirms the
signature is that of an authorized signer. Verification can be completed via Lexis
Nexis query or review of a Certificate of Authority provided by the dealer.

Senior Risk Executive

Operating Risk Leader

Page 7 of 18

Subject:

Original Approval Date:

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Channel Management Dealer

Reviews

Procedure No.
200-14

e.

6.

Current Effective Date:

06/22/2015

The Analyst will assign the activity back to the CM Queue.

will change
the VVLOC from PND (pending) to the appropriate approval status in Siebel. The
status is fed to both Cheetah and SalesForce and the Activity is marked DONE.
The executed SAA is uploaded in P8. This ends the Dealer onboarding process for
pending Dealer awaiting signed SAA.

If the Dealer is in REJ (reject) status:

a.

b.

Policy Owner:
Policy Contact:

The sales team may request a decision appeal by creating a new activity.
o

Activity Type = CM-Vendor Review

Activity Purpose = VR-Vendor Decision Appeal

Upon further research, based on additional information provided, the CM team

may or may not uphold the original decision. The final decision is noted in the
Siebel Activity Comments. Additionally, the
team notes the decision in
Cheetah Comments.

Senior Risk Executive

Operating Risk Leader

Page 8 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

3.1.b
1.

Current Effective Date:

06/22/2015

Process Steps for AML/Compliance Screening:

The
team will run the Bridger checks according to the
guidelines, via a Siebel Touchless Submittal.

AML/KYC Policy

a. If the Dealer is decisioned by the system as a Bridger PASS, this is documented in the Siebel
record and the Dealer continues through the remainder of the onboarding approval process.
b. If the Dealer is decisioned by the system with a Bridger FAIL an auto-Activity is opened to
the AML
COE.
If the AML
COE team deems the hit to be a FALSE POSITIVE, the AML Activity &
CM Submittal are noted and the AML Activity is closed. The Dealer then continues
through the remainder of the onboarding review process.
If the AM
COE team deems the hit to be a TRUE HIT or if they are not able to
make the decision for FALSE POSITIVE based on the info provided, the AML Activity is
assigned to the AML Screening COE Flow team for further review.
2.

The AML Screening COE-Flow team will do additional research.

a. If the AML team deems the hit to be a FALSE POSITIVE, the AML Activity and CM Submittal
are noted and the AML Activity is closed. The Dealer then continues through the remainder
of the onboarding approval process.
b. If the AML team deems the hit to be a TRUE HIT, or if they are not able to make the decision
for FALSE POSITIVE based on the info provided, the AML Activity is assigned to the
AML
Compliance team.

3.

The
AML Compliance team will do additional research and make a final decision on the status
of the Bridger hit.

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 9 of 18

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Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

a. IF the AML team deems the hit to be a FALSE POSITIVE, the AML Activity & CM Submittal
are noted and the AML activity is closed. The Dealer then continues through the remainder
of the onboarding review process.
b. If the AML team deems the hit to be a TRUE HIT, they may give further direction of Do
Not Proceed based on the info provided, existing Compliance issues related to the hit, or
further discussion with the Risk Leader for the related program. The AML Activity and CM
Submittal are noted with TRUE HIT and further direction of Do Not Proceed, then the AML
Activity is closed. The CM Analyst will reject the CM Activity and CM Submittal. This ends the
onboarding process for rejected Dealer.
c. If the AML team deems the hit to be a TRUE HIT with further direction of OK to Proceed,
the business is allowed to proceed at their discretion, however the CM Analyst will reject or
approve the CM Activity and CM Submittal based on discussion with the CM Leader.

4.

If rejected, this will end the Dealer onboarding process.

If approved, the Dealer then continues through the remainder of the onboarding
review process.

IBP Exception: Direction from the

AML team of TRUE HIT - Do Not Proceed on a potential IBP
can be appealed for further review. The CM manager and the Platform AML manager will jointly
decision whether to proceed with onboarding, or not, based upon the facts of the case.
Documented evidence of the joint decision will be recapped in an email between the CM
Manager and the Platform AML Manager. This email will be attached in the Documents tab
under the Siebel Partner. The Siebel Touchless status will remain TRUE HIT Do Not Proceed
regardless of the decision to proceed with onboarding or not.

There are times when moving forward with onboarding is acceptable for a system TRUE HIT. For
example, a
Dealer review that detects a required IRS 8300 form (Report of Cash Payments over
$10,000 Received in a Trade or Business) has not been completed would be raised as a potential IBP.
However, this IRS reporting issue would not necessarily prohibit transacting business with that Dealer in

3.1.c

On-going Dealer

On-going Dealer reviews are conducted based on the following requested situations:

Dealer Reactivation: A previously active Dealer has been inactivated and is requesting
reactivation. A full review will be conducted by the CM team. See 3.1 (above) for new Dealer
screening guidance.

Additional VVLOC for new Dealer Location: An active Dealer desires a new VVLOC to be
established for a new location. An address verification of the new location will need to be
performed by the CM team.

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 10 of 18

Subject:

Original Approval Date:

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Channel Management Dealer

Reviews

Procedure No.
200-14

3.1.d

Current Effective Date:

06/22/2015

Additional VVLOC for new/different program: An active Dealer is seeking approval to

participate in an additional/new program.
o

If the Dealer has been active and not subject to a full review for more than 24
months, the CM team will conduct a full review. See 3.1 (above) for new Dealer
screening guidance.

If the Dealer has been active and reviewed within the last 24 months, the CM
team will conduct an OEM authorization check of the new program only.

Process Steps for new Payee Onboarding

The process steps for onboarding a new Payee replicate the steps for onboarding a new Dealer with the
exception of the site visit, OR Score & SIC Code consideration, and tenure, which are not required.
3.2

OI Product Reviews

OI Product reviews An OI Dealer may request to participate in various product offerings. Upon request,
in addition to the onboarding criteria listed above, the Dealer may be evaluated based on the following
criteria for participation in the product program:

Sales volume dollar amount of annual sales revenue generated by the Dealer

Financial Statements income and balance sheet statements provided by the Dealer

History/Portfolio Performance a review of prior business with

portfolio performance

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

and the related

Page 11 of 18

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Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

The below, OI Product Review Criteria Matrix (Matrix D), provides guidance on screening decisions
for a variety of OI Products.
PRODUCT UNDERWRITING GUIDELINES
PROGRAM LEVEL
Transaction Level
Private Label w/
Dealer Return of
Immediate
Points in Rate
Standard Private Waive Phone Equipment
Notification
(6-10)**
Label
Audit (WPA)* (ROE)*
FOF
CPC
1 year
2 years
2 years
2 years
5 years
2 years
2 years
1 year
1 year
$1MM
$5MM

Criteria
Tenure in Business
Tenure with GE
Sales Volume
OR Score
2 Years Fiscal Year End Financials (and interim)
No Material Derogs
No Prior History of Problems w/ GE
SAA Required
Individual Deal Size
Dealer Status

QLIKVIEW CRITERIA
90+ Day Delinquency
LTD/Loss to OEC

16

16

16

Yes
Yes
Yes

Yes
Yes
Yes

Yes
Yes
Yes

13
No
Yes
Yes
Yes

AP-T or APP AP-T or APP AP-T or APP

13
Yes
Yes
Yes
Yes

Yes
Yes

Yes
Yes

<$75M
AP-T or APP

<$75M
AP-T or APP

PORTFOLIO PERFORMANCE GUIDELINES

UPPER THRESHOLD
2.24%
4.10%

NOTES
** POINTS IN RATE (1-5): Do not require approval. A credit Review and Qlikview Summary info will be sent to the Program Risk Manager (PRM) for decision on
Points in Rate (10+).
* WPA & ROE: For transactions >/= $75M, Credit Review & QLIKVIEW Summary info will be sent to the PRM for decision.

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 12 of 18

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Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

The OI Product Review Exceptions Matrix (Matrix E) further outlines acceptance criteria and
approval authority levels for dealer product approvals:

Attributes

Approval Authority Levels

Channel Management Analyst
Channel Management Leader

Sales Volume for Private Label

No authority to waive requirement

May waive sales volume or set alternative

criteria (i.e. approval subject to 6 month
review, etc).

Financial Statements for Standard

Private Label

May waive with OR13 or better with 10 years

tenure

May waive with OR14 based on Expert

Judgment

Financial Statements for Private Label

with Immediate Assignment

No authority to waive requirement when

guidelines not met

May waive with OR14 based on Expert

Judgment

May disregard portfolio performance more

than 5 years old in their analysis
CPC & FOF transaction can be approved.
No authorization to approve Private Label
transaction.

May approve up to LTD Loss/OEC of 5.0%

Tenure - CPC and Points in Rate (6-10)

May reduce to 1 year based on Expert

Judgment

May reduce to 1 year based on Expert

Judgment

Waive Bank Verification

May waive verbal verification or copy of a

canceled check for non-financial institutions
or non-publicly traded companies with bank
letterhead listing names on the account and
account number.

May waive verbal verification or copy of a

canceled check for non-financial institutions
or publicly traded companies with bank
letterhead listing names on the account and
account number.

Dealer Status - FOF

May approve for Fund of Fax WITH return of

originals for APUW status

May approve for Fund of Fax WITH return of

originals for APUW status

History/Portfolio Performance
Transactional request not included in
executed SAA

3.3

CPC & FOF transaction can be approved.

No authorization to approve Private Label
transaction.

Banking Information Verification

CM receives a request to update bank information, and is provided a completed and signed
Recurring ACH-Wire Bank Info Form or other acceptable documentation (see Appendix 2).
CM confirms completeness of form and authorization of signer on Bank Info form (see Appendix 3)
CM contacts the bank to confirm the Dealer is owner of account provided, the account # is correct
and ABA Routing # provided is correct for payment method requested (ACH or Wire). If a copy of a
voided check was provided, it can be used for account name & account # verification, but the
Routing # must still be verified.
o

Policy Owner:
Policy Contact:

If the bank requires authorization from customer to confirm bank info, CM will fax or
email the Recurring ACH-Wire Bank Info Form to bank. A follow-up call will be made to
make confirmation or arrangements made for return fax or email.

Senior Risk Executive

Operating Risk Leader

Page 13 of 18

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Procedure No.
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Current Effective Date:

06/22/2015

If the bank cannot make confirmation with 3rd party under any of the circumstances
described above, CM will advise Sales. Sales will contact the Dealer to request them to
contact their bank for an exception.

CM inputs the verified bank info in Siebel, which will feed to Cheetah.
CM notifies the Treasury Operations team of the bank info update, when Wire information has
been added to the system, providing the required screen shot for their record.
3.4

System of Record

The CM team uses a variety of programs while conducting the reviews described above, including
Siebel, Lexis Nexis, Secretary of State (SOS) websites, etc. However, the system of record for verified
Dealer data is Cheetah.
4.

5.

Roles and Responsibilities

Senior Risk Executive (SRE) is (Owner) and is responsible for ensuring that Risk
Classifications are being assigned according to
requirements.

Operating Risk Leader maintains this SOP and ensures the current version is properly
documented and retained. The Operating Risk Leader also interprets and communicates
updates to the appropriate Risk personnel.

Credit Executives and

Portfolio Management Executive provide oversight of
the Portfolio and Credit teams and serves as a point of escalation to ensure processes
comply with the SOP as outlined above.

Policy Governance

5.1 Review, Renewal and Approval

The Operating Risk Leader shall review this SOP at least annually and it must be updated the earlier
of when changes in processes occur or three years from the last approval date. The
SRE is responsible for renewing the SOP and approving all material changes to this
Procedure, and its appendices, at least every 36 months.
5.2 Exceptions
Exceptions to the requirements contained herein should be approved in writing by the
and retained with the relevant system of record which corresponds to the request.

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

SRE

Page 14 of 18

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Procedure No.
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6.
Version
1.0
2.0
7.

Current Effective Date:

06/22/2015

Revision History
Approval Date
06/16/2014
06/22/2015

Original
Refreshed to new Procedure format. Added sections 3.1.a. & 3.3

Appendices

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 15 of 18

Subject:

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Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

Appendix 1
Key Terms & Definitions
Cost Per Copy (CPC) OI product that allows for bundling of service & equipment payment, and
may include charges for per copy usage. This is also referred to as Usage Based Billing (UBB).
Dealer Company that sells retail equipment to
to lease or loan to end users. In regard to this
SOP, the terms /Dealer/partner/resellers are used interchangeably.
Fund Off Fax (FOF) OI product whereby
remits funds to a Dealer with electronic copies of the
lease contract being deemed acceptable documentation.
Payee any person or entity receiving proceeds from the Portfolio Management System (PMS)
receivable module.
Points in Rate OI product that allows Dealers to add additional points to the standard rate card rate,
when calculating the rate charged to the customer.
Standard Private Label OI product where the Dealer is Lessor on the lease and billing and
collection is in the name of the Dealer (without reference to
Private Label with Immediate Notification an OI product where the Dealer is Lessor on the
lease, but
notifies the customer immediately of assignment, with billing and collection in GEs
name.
Strike Zone A targeted group of SIC codes in which a program are expected to operate. An
approved Dealer should be affiliated with a SIC code that falls within the Strike Zone of their
program. See Matrix C for Strike Zones by program.
VVLOC (Dealer/Dealer LOCation) a two part code representing the Dealer Record. A dealer can
have multiple Dealer LOCations under one Dealer as each is a separate location (address). The first
part of the code Dealer Code - (up to 6 characters) represents the Dealer Program within the
Cheetah/PMS hierarchy. The second part of the code Dealer LOCation (up to 6 characters)
represents the dealer branch locations. For example, the vvloc for Joes Equipment Inc in Wichita,
KS is
123456.
123456 signifies the branch location for the dealer.

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 16 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

Appendix 2
Bank Verification Options Grid

Bank Info Verification Options

Financial Institutions/
Publicly Traded Company
Completed Bank Info Form signed by Authorized
Signer (see bank info form)*
Payment Instructions on Letterhead
Payment Instructions on Buyout Letter/Invoice
Payment Instructions on Website

Dealers/Payees
Completed Bank Info Form signed by Authorized
Signer (see bank info form)*
Copy of Voided Check / Pre-printed Deposit Slip
with completed Bank Info Form
Bank Info Loaded on Existing Payee Code
Confirmed Match for Wholesale Setup

Verification of Routing # will be needed for all options requiring a Bank Info Form
* Verbal or written confirmation will be made with the bank

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 17 of 18

Subject:

Original Approval Date:

06/16/2014

Channel Management Dealer

Reviews

Procedure No.
200-14

Current Effective Date:

06/22/2015

Appendix 3
Bank Info Form Authorized Signer Requirements Grid

Policy Owner:
Policy Contact:

Senior Risk Executive

Operating Risk Leader

Page 18 of 18