HOUSTON -- Diebold, Incorporated (NYSE: DBD) and Loomis, Fargo & Co. have signed a national cash handling services agreement that will help streamline Diebold's Fast Line offering, which encompasses the company's first-line (basic, limited-technical) and cash handling services.
Under the two-year non-exclusive agreement Diebold service professionals will perform first-line maintenance, while Loomis, Fargo & Co. will provide cash management services on Diebold's behalf.
Instead of signing an individual contract for each customer, the agreement between Diebold and Loomis, Fargo & Co. will allow for the use of standard pre-approved terms and conditions. The ordering process between Diebold and Loomis, Fargo & Co. requires only the completion of an exhibit that lists the tasks the individual customer requires, such as pickup of prepared shipments, loading currency into cash cassettes, sweeping ATM deposits and returning non-dispensed currency.
"This agreement brings together two companies that have a long-standing tradition of quality and customer satisfaction," said William M. Fletcher, vice president, ATM Services for Loomis Fargo & Co. "In many ways, this agreement simply formalizes a relationship that has become mutually beneficial for both parties and, most importantly, for our shared customers."
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