Frequently Asked Questions: 

1. Am I being overcharged for my processing services? 

2. How do I get started? 

3. When is the best time to start the negotiations? 

4. How much will it cost me? 

5. How much time is needed for Contract Negotiations Program?   

Am I being overcharged for my processing services?  

Contract Negotiation Solutions has the competitive market information and experience to determine the appropriate pricing, discount levels, contractual verbiage, terms and conditions.  

How do I get started? 

The first step is for the financial institution to sign our agreement and determine which of the contract cost reductions areas that the financial institution wants DMI to review.  We will provide the financial institution with our Request for Information listing the specific contract and invoices that we need to review.  We request that the financial institution make copies of these documents and sends the copies to our office.  We will review the documentation and prepare a written appraisal of your current costs compared to our Market Intelligence target pricing. You can find information on our company on our ‘About Us’ page.  

When is the best time to start the negotiations? 

Many of the contracts we review are three (3) to seven (7) year contracts.  Based on our experience, we have found the best time to negotiate contract renewals and extensions by type of contract is 10 to 18 months prior to contract expiration. 

How much this will cost me? 

The fee for this service is a contingency fee based on the approved annual benefit of approved recommendations by your management team.  The fee is determined at the time you approve the chosen recommendations to be implemented.  Your management team has full control over the amount of the project fee. 

How much time is needed for Contract Negotiations Program? 

During contract negotiations, we request that the bank designate a coordinator to provide copies of the contracts and invoices.  Within 10 days we will prepare an appraisal of our findings to be reviewed and as a result, obtain an authorization letter to begin the negotiations with the vendor. When DMI negotiates a great contract for your financial institution, you will directly impact your bottom line, your customer/member services, employee satisfaction and generate long-term value.

DMI's GUARANTEE

 If we don’t save your institution money, you do not owe us anything!