Reply by Moneyman/TX on 10/10/13 9:55pm
Msg #487716
I think he may be referring to the fact that Notary Rotary (i.e. Harry) offers a BGC that is every bit as "valid" as that being sold through XYZ; as a vendor, I believe that Sid would like to see these same companies that have either bought the false line that only a BGC from XYZ is the only nationally "uniform" and/or 'valid' BGC that they should accept if they are also going to buy XYZ's slick marketing pitches that the law requires all NSA's to provide an updated BGC for these companies' files or if these same companies are working directly with XYZ to basically freeze out any competition in the BGC business and increase XYZ's membership rolls (and profits).
The latter is something that I would have very little trouble believing as XYZ was sued in the recent past for a similar type of business practice with certain SS companies (anyone remember the $52 cash or "free" 1-yr membership as a settlement for the damage they caused to this industry, and to NSAs individually, & professionally, in many different areas?)
Just for giggles, I went to XYZ's website a few months ago to see what they charged for a BGC. Although XYZ goes to great lengths to package their advertising to give the impression that XYZ offers BGC's, as a stand-alone product, available for purchase for members and non-members, this is not the case, according to their website at the time that I attempted to ascertain what XYZ is charging for * just * a BGC. Unless there were technical issues with their site at the time I visited it (I can't even type that excuse with a straight face!), XYZ's site clearly showed, through URL redirection, that XYZ only offers members the opportunity to purchase a BGC through XYZ (as some companies are "requiring").
Any company that "requires" NSAs to purchase a BGC from only the XYZ, that company is also requiring any XYZ NON-member NSAs to become paying members (at an additional fee of course) of the XYZ as a requirement before the company will even consider adding the names of those NSAs to a long list of businesses that may never be called for any signings.
The BGC offered by Notary Rotary, as a stand-alone product as well as at a much lower final cost to consumers than XYZ, (no membership, or specialized membership, required by Notary Rotary) is capable of uncovering the same positive/negative information as the overpriced, imo, XYZ version.
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Reply by ikando on 10/11/13 8:57am
Msg #487743
I think MoneyMan's on the right track. If XYZ is trying to create a monopoly for access to signing agents, it looks like they're on their way to success. Other BGC companies, like NotRot, have an interest in circumventing that. I, personally, believe if a notary has a valid BGC, that should be acceptable regardless where it comes from. Coersion by a for profit company that is basically to grow their bottom line, is not right, IMO.
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