Escrow.com and the National Equipment Register Form Strategic Alliance to Protect Heavy-Equipment Buyers and Sellers
Rancho Santa Margarita, Calif., November 2, 2011 — Escrow.com and the National Equipment Register (NER), a member of the Verisk Analytics family of companies, have announced a strategic alliance to help equipment owners and manufacturers better manage liability and risks associated with the purchasing of used construction and agricultural equipment from sources such as online auction services, equipment wholesalers, social media websites, and individual sellers.
“Internet fraud has now become one of the biggest issues for the global economy. It is estimated that more than a billion dollars has been lost to Internet thieves selling stolen and nonexistent equipment. Through our alliance with the National Equipment Register, we are in a position to significantly reduce the risk when buying and selling heavy equipment” added Brandon Abbey, president of Escrow.com.
“With transactional fraud and theft of heavy equipment remaining a problem, Escrow.com can help protect buyers and sellers during the sales process through the Escrow.com and NER IRONcheck service,” said David Shillingford, president of NER. “Escrow.com provides a crucial element to mitigate transactional risk in the used-equipment market.”
The National Equipment Register (NER), a member of the Verisk Analytics (Nasdaq:VRSK) family of companies, helps equipment owners manage equipment risks. Since 2001, NER has helped thousands of equipment owners and their insurers deter theft and has enabled law enforcement to recover millions of dollars of stolen equipment through HELPtech®, a national equipment marking and registration program. In 2009, NER launched IRONcheck®, a machine-history search for used-equipment buyers. NER’s data management skills and equipment expertise are also used by fleets to support compliance with new regulations. For more information, contact NER at 201-469-2030 or at firstname.lastname@example.org. You can visit the NER website at www.NER.net.
Headquartered in Rancho Santa Margarita, California, Escrow.com and its operating subsidiaries provide online escrow services that facilitate and accelerate e-commerce by assuring secure settlement.
Escrow.com is a privately held company that has pioneered the process of online escrow services. The company, founded in 1999 by Fidelity National Financial, has established itself as the leading provider of secure business and consumer transaction management on the Internet.