Warranty Reserve Program

The Solar Industry is a perfect fit for PayKeeper’s Warranty Reserve Program. Major initiatives from the industry have focused on two important areas: Consumer Protection and EPC financial health. PayKeeper’s Warranty Reserve addresses and uplevels both areas. First, the consumer is protected by reserving the amount of servicing their warranty over the term in escrow accounts in the consumer's name - protecting those funds in the event the contractor goes out of business. Second, this program allows the contractor to administer their own warranty safely, while capturing the profit that would otherwise go to a third-party warranty company. This creates a new revenue stream for the contractor that is vital in their world of slim margins. The program also uplevels the quality of their financials - since most solar contractors who offer their own warranties do not reserve any funds for future servicing. All for a low monthly cost, PayKeeper offers a complete turnkey, fully compliant program that benefits all stakeholders.

Simplify the tracking and accounting requirements necessary to manage the warranty program for the products you manufacture. The PayKeeper Warranty Reserve Program integrates directly with your fulfillment software, segregating reserves based on SKU and quantities. Funds are held in escrow by a regulated third party, while the schedule of release of payments can be easily accessed for accounting purposes.
Additionally, the PayKeeper Warranty Reserve Program makes the management of additional warranty services an easy ramp up, so that additional revenue can be earned by offering premium warranties and extended protections.

Home warranties have been a staple in the new home purchase process for many years, and now PayKeeper has developed a product that allows home improvement contractors to offer premium coverage for larger and more complex home improvement projects. In situations where the project includes adding new appliances, home theater, low voltage wiring, swimming pool, sauna and other sizeable items; homeowners may want the option to purchase a premium warranty. The PayKeeper Warranty Reserve Program is the simplest way to have such offering up and running within a couple days, while providing the financial security of a highly regulated third party escrow company.