Risk Management - Billing & Collection Procedures
For American chapters & colonies, James R. Favor & Company will be providing the billing and collection services for the Tau Kappa Epsilon Risk Management Assessments for 2014 – 2015. 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.
For Canadian chapters & colonies, James R. Favor & Company will be providing the billing and collection services for the Tau Kappa Epsilon Risk Management Assessments for 2014 – 2015. All Risk Management Assessments need to be made payable to and sent directly to Tau Kappa Epsilon, 7439 Woodland Dr Suite 100, Indianapolis, IN 46278.
The bills will be emailed to you by August 8, 2014 and we encourage your immediate attention. Payments must be received (not postmarked) by James R. Favor & Company (for American groups) or Tau Kappa Epsilon (for Canadian groups) before the close of business on October 15th.
Your chapter/colony can pay by September 15th and receive a 10% credit on your Chapter Statement. Payments can be made via check or ACH transfer www.jrfco.com/ach.htm.
Alternatively, a chapter can set up a payment plan with Eric Johnson
at the Offices of the Grand Chapter for at least 50% due on October 15th and the remaining payment due on March 15th.
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.
August 1, 2014
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.
August 8, 2014
Risk Management Fee Assessments will be Emailed to all chapters and colonies.
September 15, 2014
Payments received in full by September 15th will receive a 10% credit back on their TKE Chapter/Colony Financial Statement on the Chapter Module. This is a credit, not a rebate check, and can only be used for future TKE billings.
September 29, 2014
Email Reminder #1 (copy of Bill) will be Emailed to all chapters that have not paid the RMF assessment.
October 6, 2014
Email Reminder #2 (copy of Bill) will be Emailed to all chapters that have not paid the RMF assessment.
October 10, 2014
Final Email Reminder (copy of Bill) will be Emailed to all chapters that have not paid the RMF assessment.
October 15, 2014
All RMF 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 10-15-14.
October 16, 2014
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 2014. 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.