ComAuction Announces Financing Option for Buyers in Partnership With Bluedot Funding.Business Editors &High-Tech Writers DOWAGIAC, Mich.--(BUSINESS WIRE)--Feb. 1, 2000 On January 26th, 2000, ComAuction, the business-to-business auction service, announced a partnership with customer lease finance company Bluedot Funding. ComAuction will use this partnership to provide leasing options for buyers of the goods on its auction site, comauction.com. This will provide customers with the option of spreading out the payments for goods purchased on ComAuction. The partnership makes it easier for buyers to buy the things they need, and that, in turn, helps the sellers get their items sold. This exclusive relationship gives ComAuction a real edge over competitors. &uot;This is one of the two most important partnerships a Business-to-Business marketplace can form,&uot; says ComAuction's Chief Strategy Officer, Keith Kelley. &uot;You can expect the others to come to light soon.&uot; &uot;Buyers are able to pre qualify for financing via Bluedot, which allows them to confidently bid on an item knowing the funds are available. Sellers enjoy higher bids and faster liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of their goods,&uot; added Fred Polmanteer, CFO See Chief Financial Officer. &iCEO &uot;The addition of Bluedot Financing furthers our goal of being a one stop site for business auctions customers.&uot; Bluedot's leasing program is integrated into ComAuction's money management process, which is unique to ComAuction's auction model. When a buyer wants to lease an item, the buyer downloads a form from ComAuction's bid page, fills it out, and sends it to Bluedot. When the credit line is approved, the bidder may bid on the item up to the amount approved. When a buyer wins an auction, the proceeds of the lease are sent to ComAuction, so they can be held for the seller. When the buyer receives the item they are leasing in the agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy condition, the funds are then paid to the seller. All steps are handled quickly and efficiently. Future plans for the partnership include an on-line application. ComAuction is an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the commercial and business e-Commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. sales service providing an outlet to buy and sell materials, goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . Businesses and commercial customers are brought together to conduct transactions in a safe, convenient and powerful market arena. It is especially suited for businesses who are recapturing lost assets by liquidating over-runs, obsolete OBSOLETE. This term is applied to those laws which have lost their efficacy, without being repealed, 2. A positive statute, unrepealed, can never be repealed by non-user alone. 4 Yeates, Rep. 181; Id. 215; 1 Browne's Rep. Appx. 28; 13 Serg. & Rawle, 447. and surplus equipment. Bluedot is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company that provides creative leasing and financing programs. Bluedot finances and leases all types of equipment such as titled vehicles, computers, phone systems, office networks, copiers, industrial machinery, printing, photo, furniture, software, installation, shipping, warranties, maintenance etc. Bluedot's customers range from fortune 500 to startup companies The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. and everything in between. Bluedot offers a quick response on all approvals and can approve and fund customers in a matter of hours, making Bluedot perfectly suited to online transactions. More information is available at http://www.ComAuction.com |
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