3rd Party Verification: Information To Know

All telecommunications service providers need to utilize 3rd party verification as a requirement to operate their business and accept clients. Also known as TPV (third party verification) it is a national standard requirement and authorized by the Federal Trade Commission and the Federal Communications Commission, and most state’s Public Utility or Public Services Commissions for telecom service changes and by many states for changes in electric and natural gas service.

In addition, the FTC requires a process similar to TPV for many orders and we have many clients who use TPV to have reliable documentation of their orders, and other transaction types. Third-Party Verification is now the defacto standard for transactions of all types where a legally binding authentication and confirmation are required, but a signed document is impractical or impossible, especially when dealing with distant parties, the timelines for approval and verification is immediate, or volume in which verifications is significant and too cumbersome to request signed written documentation.

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Information in Details

3rd party verification services companies play an increasingly important role in business and commerce. Based upon the laws and regulations that have been enacted to initial support the telecommunications industry, this service has become more widely recognized as a means to quickly accept or make a contract or verify a contract, by inserting an independent third party that adheres to certain standards and best practices who has the technology to properly record and manage a multitude of transaction types, and who has backup records of all calls that it must maintain for a period of at least 2 years.

Utilities companies, legal services providers, healthcare and other major industries have completely embraced using 3rd party verification providers to help adhere to higher levels of business, to remain compliance within their industry, to reduce client transfer fraud and “slamming”, and to otherwise uphold a certain level of business integrity.

The process of 3rd party verification remains to be a highly regarded and important service as a means of obtaining proof for certain type of transactions, principally those that are made over the telephone. For example, in a recently completed study of consumer reactions to electronic contracts, over 80% of the  respondents agreed that a transaction was harder to dispute because the verification was made and held by an independent third party.

 

If you are in the telecommunications industries, a utility service provider or competitive access provider – you need an experienced and reliable 3rd party verification services company. We recommend Calibrus as one of he leaders in the TPV industry. If you would like to speak with a professional representative that can answer your questions- please call toll-free today at 866-599-2397 to discuss your needs.

Or – use our contact form

 

 

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