KB257: Riskless Rentals Procedural Guide
- Mary Volkmer (Unlicensed)
Riskless Rentals is a program in which a vendor – Follett, for example – will provide your store with books to rent to customers. Parameters in POS and VisualRATEX allow you to collect collateral in the form of a credit card, so if a book isn’t returned, money isn’t necessarily lost. The store is responsible for attempting to utilize the collateral for unreturned books, but if the charge is not successful, the information is then passed onto the vendor for collection purposes. Stores can therefore participate in this program with low risks to their bottom line.
Attached is the procedural guide for the Riskless Rentals program introduced in VisualRATEX 19.2.
If you are looking for information on the "Store-Owned" version of Textbook Rentals, please see KB #249.
Information regarding the maximum length of the Rental Agreement has been added to the guide on page 11. Please note that the Rental Agreement cannot exceed 72 lines.
A new section called Deciding What Books to Rent has been added to the guide. This section instructs users how to utilize the Rental Decisions (TX.RENTAL.DECISION.MNT) screen after vendor responses have been imported into VisualRATEX. This new screen simplifies the decision making process when it comes to vendor-owned rentals by allowing users to apply changes to fees and rental flags en masse.