DAYTON, Ohio, June 15, 2016 /PRNewswire/ — The Reynolds and Reynolds Company today announced the release of the Reynolds LAW® Idaho F&I Library, which is a suite of standardized, legally reviewed finance and insurance (F&I) documents for the franchised new vehicle dealers throughout the state of Idaho.
“Based on industry trends during the first half of 2016, we expect automotive retailers will continue to be challenged by the increased demands of regulation,” said Jerry Kirwan, senior vice president and general manager of Reynolds Document Services. “Documents in the LAW Idaho F&I Library are regularly reviewed for compliance with the latest automotive regulations by Reynolds’ industry-leading forms specialists alongside Reynolds’ outside legal partners, helping dealers meet their compliance obligations and reduce their litigation risk.”
Kirwan also noted that this library of standardized documents is written in consumer-friendly language, which helps create a clearer, more efficient F&I process for the consumer. By increasing the efficiency of the F&I process, the overall consumer experience with the dealership can be improved.
In addition, the LAW Idaho F&I library also can help facilitate the conversion to laser-printed transactions or e-contracting, since the documents are available in both paper-based and electronic formats. Reynolds Document Services maintains licensing agreements with all major providers of electronic F&I (e-F&I) solutions.
About Reynolds LAW Brand Documents
Reynolds’ LAW brand is well established as one of the most trusted brands in the automotive industry. LAW documents are available in all 50 states and Washington, D.C., and have been endorsed by a number of state automobile dealers associations and leading automotive finance institutions.
The flagship product of the LAW brand is the Reynolds LAW® 553 Universal Retail Installment Sale Contract, the most widely accepted document in auto finance. The Reynolds LAW 553 is available in a variety of languages and is regularly reviewed by industry experts to help keep pace with new legislative and regulatory developments.
Reynolds and Reynolds was founded in 1866 as a business forms printer. Since the 1920s, Reynolds has been known as the leader in serving automobile dealerships nationwide with standard and custom business and vehicle sales and service documents to help dealers manage their operations more efficiently and serve their customers more effectively.
Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms to help dealerships deliver better business results and transform the customer experience. The company is headquartered in Dayton, Ohio, with major operations in Houston and College Station, Texas, and Celina, Ohio.
SOURCE The Reynolds and Reynolds Company