SnapNames.com, Inc.
1600 SW 4th Ave., Suite 400
Portland, Oregon 97201

November 6, 2009      

            Re:       Rebate Offer

Dear Customer:

On November 4, 2009, SnapNames.com, Inc. (SnapNames) notified customers about an unfortunate incident involving an employee bidding under a false name in certain SnapNames auctions.  As we said previously, this was a clear violation of our internal policy and we regret that it occurred.  In order to avoid any appearance that SnapNames benefited from this unauthorized conduct and in recognition of the importance of fair auctions, SnapNames is offering a rebate to any customer that won an auction in which this employees bidding activity resulted in a higher price paid by the customer.  This letter provides more details regarding this rebate offer. 

The account in question was named halvarez.  Our records indicate that you won one or more auctions involving domain names in which halvarez also placed a bid.  The attached Schedule I (link below) includes: (i) a list of each domain for which you were the winning bidder in a SnapNames auction in which halvarez placed a bid that affected the amount of the winning bid in the auction, (ii) the date on which the auctions for each domain closed, (iii) the winning bid price paid for such domains, (iv) the rebate amount for such domains, (v) the aggregate interest amount and (vi) the aggregate rebate amount.

Although the employee that placed bids under the name halvarez appeared to have submitted genuine bids in many auctions in which another person won, SnapNames is offering a rebate in each and every instance where this employees bidding had an impact on the winning bid.  SnapNames is doing so to avoid any appearance of a conflict of interest on the part of the company.

How Affected Auctions Were Reviewed

To determine the rebate offer amount, SnapNames hired FTI Consulting, an independent, international forensic accounting firm, to perform a thorough review of these auctions and calculate the rebate.  FTI Consulting reviewed data regarding all of the bidders in an affected auction, including the bids each bidder placed in the auction and the maximum bids the bidders indicated they were willing to place in the auction, and determined from this data what the winning bid would have been had halvarez never placed a bid in the auction.  This amount was then subtracted from the actual price paid for the domain name to determine the amount of the rebate for that auction. 

Calculation of Rebate Offer Amounts

In situations where a customer competed in the auction against only halvarez, the rebate offered is the difference between the winning bid and the opening bid for the auction, plus interest.  This calculation assumes that were it not for the bidding by halvarez, the client would have won the name with the opening bid.  In situations where there were other bidders in addition to the winner and halvarez, FTI Consulting reviewed the bidding history for each auction, as well as any indications by other bidders regarding the maximum bid they were willing to submit in the auction, to determine what the winning price would have been had halvarez not participated in the auction.  For example, if the winner paid $100 for the domain, halvarez had bid $90, a third persons maximum bid was $80, and the minimum bid increment was $5, then FTI determined that the winner would have won the auction at $85 were it not for the bidding by halvarez.  Thus, the rebate offered for this auction would be $15, i.e., $100 minus $85, plus interest. 

The Rebate Offer

In your case, SnapNames has concluded that had halvarez not placed a bid on any of the auctions you won, you may have paid less for the domain names you purchased at auction.  Therefore, SnapNames is offering you a rebate for this amount plus interest, calculated at the rate of 5.22%, compounded annually, which is the highest value of the 1 month constant maturity treasury rate during the applicable period.  This rate is established by federal law. 

The rebate is available, at your option, in cash or as a credit to your SnapNames account.  (Please note however that credit to your SnapNames account will be available only if the rebate amount, including interest, is $59 or higher.  If the amount is less than $59, your rebate will be offered in cash.)  Although we dont currently anticipate doing so, we may impose other restrictions on the issuance of account credits, to satisfy legal or accounting requirements. 

This offer is dependent upon your executing and returning to Rust Consulting, Inc., a third party administrator that is assisting with the administration of this rebate offer, the accompanying Rebate Offer Acceptance Agreement (link below) which, among other things, waives any claims you may have against SnapNames and its affiliates relating to this matter.  This offer is open for twelve months from todays date.  If the offer is not accepted within this time frame, then the rebate will no longer be available. 

If you have questions or concerns regarding the rebate calculation or other aspects of this offer, please contact Rust Consulting by telephone at 1-888-413-5338 or by e-mail at snapnamesrebate@rustconsulting.com.  Please be prepared to provide detailed information and data regarding your bidding and purchase activity to the extent that it differs from the information we have provided to you. 

Under certain circumstances we may be required to report the interest paid to you to the U.S. Internal Revenue Service (IRS).  To permit us to satisfy any reporting obligations, your receipt of payment or credit from SnapNames pursuant to this offer may be conditioned on your providing us with a properly completed and executed IRS Form W-9 (or, for non-U.S. persons, an IRS Form W-8BEN or other appropriate version of Form W-8), or such other materials that may be required to enable us to comply with applicable tax laws.  If so, we will provide you with further information.  You are urged to consult your tax advisor regarding the U.S. federal income and other tax consequences to you that may result from this offer.

Processing Your Rebate Offer

In order to process your rebate, please execute and return the Rebate Offer Acceptance Agreement and send it to the following:

              SnapNames Rebate Administrator
              P.O. Box 98
              Minneapolis, MN  55440-0098

If you so elect, you may contact Rust Consulting to print and mail you a copy of these forms, along with a self-addressed stamped envelope.  Rust Consulting can be reached by telephone at 1-888-413-5338 or by e-mail at snapnamesrebate@rustconsulting.com Please provide your current mailing address with your request.  Upon receipt of your Rebate Offer Acceptance Agreement and after verification of your eligibility, Rust Consulting will provide your rebate check (or confirm application of account credit) by mail.

Again, SnapNames regrets that its policies were not followed and that any of its customers may have been inconvenienced by this matter.  SnapNames thanks you once again for your continued business. 

Sincerely,

Jeff Kupietzky                                       Craig Snyder
President and CEO                                General Manager, SnapNames.com

Ma'am

In this country we have a phrase called due dilligence, it is a legal term that defines a fiduciary responsibility that assures answerablitiy.
'Add funds" means, add funds, adding funds, means funds are added, to not follow up on the addition of funds when there is a pending drop dead time consequence by you and cohorts is the very abscene of due dilligence to apply the added funds for the solicition for funds by you at answerable.com.
And having recieved funds, answerable did nothing but enjoy those funds and did nothing in my behalf?

Who is your attorney of record in the US?

Stewart Resmer


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From: sales@answerable.com
To: pitbullstew@hotmail.com
Subject: RE: FW: Consolidated Renewal Reminder [2016752:40202]
Date: Mon, 26 Jan 2009 12:57:36 +0530


Dear Stewart,
To start with, let me clarify few of the points that you have mentioned in the link
http://www.ripoffreport.com/reports/0/411/RipOff0411945.htm about us.
" On dates prior I was billed for Domain re-registration, and provided those funds to the company which in turn
did not execute transaction resulting in loss of registered Domain.
After weeks and weeks of email exchanges the company discovered the error and accapts no liabilty for the reciept of funds
that were necer acted upon citing 'automation' ."
The process is called domain name renewal, and our system sends automatic renewal reminders to the customers
about the services expiring in due course of time.
Similarly, you had received an email about the renewal of the domain name wedriveyou.com on :
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Date: Wed, 16 Jul 2008 12:49:24 +0000
From: sales@answerable.com
To: pitbullstew@hotmail.com
Subject: Consolidated Renewal Reminder
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
On 7/19/2008 8:29 AM, we received an email from you asking us to renew the domain name and bill it to your card
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
-----Original Message-----
From: "stewart resmer"
Received: 7/19/2008 8:29 AM
To: "Answerable.com Sales Team"
Subject: FW: RE: Consolidated Renewal Reminder

yes renew, and bill to same credit card please.

sjr
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
On 7/21/2008 10:33 AM, we had replied very clearly with the renewal steps saying that we do not store the credit card information
so you will have to renew the domain name by raising an invoice and paying for the same.
Your domain name expired on "Fri 18/07/2008 18:14:0" due to non renewal. However, on "Aug 20, 2008 9:57:57 PM" you placed the renewal
request (within the renewal grace period of 40 days) and instead of settling the invoice you added funds in your account.
It is clearly mentioned even in our online knowledge Base about "ADD FUNDS " ( http://manage.answerable.com/kb/servlet/KBServlet/faq483.html)
The funds that you added is still showing in your debit account with us (My Billing-->Summary). You can take a Refund of the
unused Funds in your Account (USD 7.49), by logging into your Control Panel and clicking on My Billing >> Request Refund.
Moreover, as Leeann pointed out, instead of informing us, Answerable.com, about the issue, you mailed in to Transecute.com, which is just the Payment Gateway.
And the address that you mailed in to was do_not_reply@transecute.com . You can refer to the email that Leeann sent on "1/12/2009 7:40 PM" for the attachment.
As the invoices was not settled, the system automatically deleted the pending invoices and the domain name got deleted because of non renewal.
So, the domain name has not been deleted because of the companies error (as you have reported), nor are we denying that we didn't receive any funds.
Infact, if you check the description of the receipt in your control panel (My Billing-->List Tranction) it clearly states :
"
Transaction Date: Aug 20, 2008
Description: Received USD 7.49 via Transecute Gateway (Ref: AddFund-C-1027914-957371) ".
The domain name after deletion was made available by the registry for registration and someone registered it on " 04-oct-2008" through the Registrar: ONLINENIC, INC.
You can check the whois for the domain name at http://onlinenic.com/whois/
Please note, the whole system has been automated and the domain name control panel provided to the customer so that they can register, renew and manage
the domain name without any need of manual intervention from our end. Incase, if a customer is stuck in the process or has any queries we also have a online
Knowledge Base http://manage.answerable.com/kb/servlet/KBServlet/cat1.html for our customers benefit and a 24/7 support desk which can be reached either
through phone or by the online ticketing system.

Please feel free to get back to us if you have any other queries.


Warm regards,

Roy Jacob
Directi Internet Solutions Pvt. Ltd.
=============================
Board Line (India): +91 (22) 66797577
Extension: 01
(USA): +1 (415) 240 4172
(UK ): +44 (20) 7183 2153
FAX (India): +91 (22) 6679 7508
FAX (USA): +1 (320) 210 5146
=============================

Beware of Answerable.com ...again!

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#1 01-12-2009, 04:43 PM
Scandiman
Founding Member
Join Date: Jun 2007
Location: NorCal
Posts: 6,742
Marketplace Rating: 11 / 100

I mentioned a long time ago that I'm leaving Answerable.com as a registrar because of very poor service, and while most domains are moved I forgot about a handful and needed to renew them before they expired. Renewing is now a pain in the butt, had to first fund the account with the proper amount and then the credit card processing demanded I fax them documentation proving I am who I say I am (a process that took a few days), and then I could finally renew.

So now I was waiting for confirmation of the renewals and most went through and some were failed. Naturally I investigated why some failed and come to find out they were pushed out of my account instead of being renewed!!! 2 days and many calls and support tickets later some of the domains are back in my account but still not all.

Is it just me or is there an increasing amount of serious registrar problems being reported?

Quote:
Originally Posted by Scandiman
All names finally back in my account, and renewed. That 'only' took 6 days.

I closed out that Answerable account several months back.

Honestly, I lost more than a dozen names that were "deleted" during transfer on 2 separate occasions.

It absolutely burned me up that they would drag their feet during the transfer process and then they would delete the names.

Am I suspicious?

Hell YES!

All the names were Hindi words and then re-regged to the same person...ALL OF THEM!

Any account that I have with a Whiz.in or Directi reseller look, I will close.

There is a new one, manage.snapnames.com, that is a reseller. I do have a couple here but will transfer after the 60 day period. I will not wait for renewal.
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