Risk Management - Billing & Collection Procedures

James R. Favor & Company will be providing the billing and collection services for the Tau Kappa Epsilon Risk Management Assessments for 2013 – 2014. All Risk Management Assessments need to be made payable to and sent directly to James R. Favor & Company, LLC, 14466 E. Evans Avenue, Aurora, Colorado 80014.

 
The bills will be emailed to you by August 30, 2013 and we encourage your immediate attention. Payments must be received (not postmarked) in James R. Favor & Company’s office before the close of business on the date due.
 

Full Annual Assessment must be paid in Full to James R. Favor & Company by 10-15-13

 
If your payment is not received when due your insurance coverage will be cancelled and you will be charged a Late Payment or Insurance Reinstatement Charge of $250. The fraternity and your school require insurance coverage. Failure to pay your Risk Management Assessment will result in coverage cancellation and may result in your chapter’s loss of recognition.
 
Payments can be made via check or Electronic Funds Transfer. If you use Electronic Funds Transfer be sure your bank makes the payment before the due date. Your electronic funds transfer payment needs to be sent to Wells Fargo Bank, 14555 E. Hampden Avenue, Aurora, Colorado, 80013. ABA # 102000076. For Credit to the James R. Favor & Company Premium Trust Account #9088464394.
 
James R. Favor & Company cannot make any adjustments in your Risk Management Assessment. 

The persons to contact at James R. Favor & Company regarding payments are:
Taryn Schoenherr, TKE Account Assistant, Taryn@jrfco.com (800) 344-7335 or Barbara Schoenherr, Chief Financial Officer, Barb@jrfco.com (800) 344-7335.
 

Important Dates

A) August 1, 2013
 
TKE will provide JRFCO with the following information for the Billing and Collection Process.
Chapter President / Treasurer Email Address Contacts.
Chapter Risk Management Program Assessments.
Approved Communications for Enclosure with the Billings.
 
B) August 30, 2013
 
Risk Management Assessments will be Emailed to all Chapters.
 
D) September 28, 2013
 
Email Reminder #1 (copy of Bill) will be Emailed to all chapters that have not paid the RM assessment.
 
E) October 5, 2013
 
Email Reminder #2 (copy of Bill) will be Emailed to all chapters that have not paid the RM assessment.
 
F) October 10, 2013
 
Final Email Reminder (copy of Bill) will be Emailed to all chapters that have not paid the RM assessment.
 
G) October 15, 2013
 
All RM assessments must be paid in full or premium financing arranged and the down payment received in the offices of JRFCO by close of business 5PM MDT 10-15-13.
 
H) October 16, 2013
 
A Notice of Insurance Cancellation will be Emailed to all Chapters that have not tendered in full or arranged to finance their RM Assessment for 2013. The notice will advise them that their insurance coverage is cancelled effective immediately and that to restore their coverage they must pay a Late Charge of $250 in addition to any unpaid amount of their RM assessment.