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I understand there's a revision to the Rebate Offer Acceptance Agreement. Where can I get a copy?
The link is here.
Why was the change made?
Several SnapNames customers expressed concerns about the agreement's language. After considering these comments, we concluded that a section of the original agreement, addressing the scope of release of potential claims, could be interpreted as too broad and not what the company intended, and therefore should be clarified.
Accordingly, the revised copy states precisely that the agreement addresses only the SnapNames auctions in which there was bidding activity from the user name "halvarez".
I signed and returned my agreement already. What do I do now?
Customers who have already communicated their acceptance of the rebate need not take further action at this point—your rebate is already being processed for payment. However, if you prefer the revised terms, you can print, sign and return the updated document. In that event, we will destroy the original acceptance agreement and use the updated one in its place.
How do I return the executed agreement?
You have several options:
By regular mail:
SnapNames Rebate Administrator
P.O. Box 98
Minneapolis, MN 55440-0098
(If you so elect, you may ask Rust Consulting to print and mail you a copy of the forms with a self-addressed stamped envelope. Rust Consulting can be reached by telephone at (888) 413-5338 or by e-mail at
snapnamesrebate@rustconsulting.com.)
By fax:
(503) 200-1232
By e-mail:
snapnamesrebateoffer@snapnames.com
Do I need to file any tax documentation if I accept the rebate offer?
A small portion of those offered a rebate would be required to provide an IRS Form W-9 or W-8BEN. Any customer with an interest amount greater than $400 (as stated on your individualized Schedule I) should provide Rust Consulting a properly completed IRS form W-9 (or W-8BEN if you are not a U.S. citizen or resident alien individual) along with the Rebate Offer Acceptance Agreement. The applicable forms can be obtained here:
http://www.irs.gov/pub/irs-pdf/fw9.pdf
http://www.irs.gov/pub/irs-pdf/fw8ben.pdf
I'm a DomainSponsor and/or Moniker customer too. Have my accounts there been subject to inappropriate conduct?
No. The activity was limited to SnapNames.
How can I go about getting my rebate?
If you were a bidder in an impacted auction, you will be contacted by Rust Consulting with details regarding the rebate offer.
When did you discover this conduct?
In October 2009.
How long had this been going on?
Since March 2005.
How many people at SnapNames were involved?
The account was managed by one employee, whose employment has been terminated.
What methodology did you use to determine the rebate being offered?
SnapNames retained an experienced, independent accounting forensics firm to calculate the amount on a customer-by-customer basis, the precise amounts due to each. In the communication we'll send through Rust Consulting, we can provide more detail about how figures were calculated.
Can I review the bid history in my SnapNames account?
Yes, this information is available, back to August 2004. Log in to your account to access this information.
What financial controls are currently in place at other Oversee companies to prevent future inappropriate activity?
SnapNames experienced a breach of internal policy and the company has taken corrective measures to deal with the situation, including the offer of a rebate. We will continue to review internal systems with the assistance of outside experts to ensure compliance and effective internal controls.
Will SnapNames auctions be impacted?
No. We continue to conduct daily online auctions and will host a live auction at DOMAINfest Global in January 2010. These auctions will continue, though with enhanced supervision and compliance measures.
Who can I contact with questions?
Rust Consulting has all the relevant details about your rebate offer. They can be reached at snapnamesrebate@rustconsulting.com.
SnapNames support is also available to you here:
By e-mail: support@snapnames.com
Phone: +1 (866) 690-6279 (toll-free in the U.S.)
+1 (503) 241-8547 (outside the U.S.)
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