Affordable environmental property report warranty now available.HERNDON, Va.--(BUSINESS WIRE)--June 24, 1996--Environmental Risk Information & Imaging Services (ERIIS ERIIS Environmental Risk Information and Imaging Services ), the nation's largest publisher of environmental due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. property reports, announced today that it now offers the ERIIS Environmental Property Report Warranty. The coverage provided by this warranty is the first of its kind in the construction, engineering, commercial mortgage, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and real estate industries. The warranty protects against third-party lawsuits, government clean-up actions or property devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. resulting from contamination caused by an unknown or unreported regulatory records site. "What we've done here," commented Dan Prickett, president of ERIIS, "is introduce the industry's first low-cost risk transfer product with coverage available to the various parties involved in the due diligence process for commercial property transactions, business loans, portfolio securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. and mergers or acquisitions. The ERIIS warranty eliminates some of the uncertainty associated with a variety of elements involved in preliminary site investigations." For an additional $29 with the purchase of an ERIIS regulatory records report, users receive liability protection against contamination to the subject property as well as adjacent properties caused by an unknown or unreported government record. Clean-up costs from a governmental or civil action, and any loss of value following the sale of the property are covered up to $75,000 with a $5,000 deductible. The policy's coverage lasts for six months and is transferable as well as renewable. Prickett continued: "The ERIIS Environmental Property Report Warranty offers added security and peace of mind to the lender or the borrower and provides the environmental professional with a tangible but inexpensive value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. benefit for their Phase 1 client." This environmental property report warranty is available through an agreement between ERIIS and Environmental & Commercial Insurance (ECI ECI Employment Cost Index ECI Election Commission(er) of India ECI Enterprise Content Integration ECI Early Childhood Intervention ECI Environmental Change Institute ) of Reston, Virginia. ECI is a low-cost provider of Best A-rated Treasury listed insurance and bonds for environmental needs. Based in Herndon, Virginia, Environmental Risk Information & Imaging Services (ERIIS) is a six-year-old, privately-held environmental due diligence property information publishing company. With a database containing over seven million Federal, state and county environmental records, ERIIS is the nation's largest publisher of environmental due diligence property reports and provides a full suite of services to more than 3,600 lenders, engineering and consulting companies, legal firms, appraisers, insurance and real estate brokers across the country. ERIIS has exclusive relationships with TRW TRW The Real World (TV reality show) TRW The Right Way TRW Tactical Reconnaissance Wing TRW The Retriever Weekly (University of Maryland, Baltimore, MD) TRW Thompson Ramo Wooldridge Inc , TransUnion, DataQuick, First American Title, Stuart Title, Contour Software, the National Association of Realtors The National Association of Realtors (NAR) is made up of residential and commercial realtors who are brokers, salespeople, property managers, appraisers, and counselors, and others working in the real estate industry. , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Association of Realtors and the California Association of Realtors as well as other real estate information companies and professional organizations. For more information on ERIIS, and its complete product line of environmental information and mapping services, call Glenn Hanna, Vice President, ERIIS, at (800) 989-0402. Or write to ERIIS, 505 Huntmar Park Drive, Suite 200, Herndon, VA 22070 (in the metropolitan DC area). CONTACT: ERIIS Glenn Hanna, (800) 989-0402 or William Mills Agency Kelly Williams, (404) 264-7202 wmakelly@aol.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion