The lead market sells the same application to ten shops and the owner gets ten calls. The exchange exists so that does not happen. These are the mechanics, not the promises.
A file is held by one seat. While it is held, no other seat can see the merchant’s name, number or statements. If it returns, it goes to the next seat, never to two at once, and a seat that has held a file never draws it again.
Each statement page a broker opens is marked with a small code naming his seat and the file. If a page is ever found outside the exchange, the code says which seat it came from. That seat is closed, and the agreement says so.
Who opened which statement, when, and from which seat is written to a log that cannot be edited. Seats are ranked on what they fund, and the log is the record if a file is ever found where it should not be.
A file cannot sit in a drawer. The broker has 48 hours to save a status or it moves on, and a merchant who is collecting papers or submitted stays with the broker who is working him, for as long as that is true.
A merchant who asks not to be contacted is removed from the exchange permanently, by phone number and by tax ID, so he cannot come back through another list or another seat.
We verify reported fundings against UCC filings and merchant calls. A funding we find that was not reported is put to the broker with five business days to answer. The merchant is never charged, and the house never takes a file.