Arlington, VA - August 12, 2008 - The recent ruling of the Independent Arbitration Panel (IAP) compels ARC to review and recalculate the 2008 annual location fee and the quarterly transaction fee originally announced in December 2007. What follows are the revised key components to the 2008 fees:
Home office locations that already paid $395 are due a refund in the amount of $235. First quarter transaction fees will also be refunded to reflect the difference of $.020 to $.018. Refunds will be credited to agency bank accounts on August 14, 2008.
Independent, branch and STP locations that paid the annual fee amount of $150 will be charged an additional $10 per location. This amount will be debited on August 28, 2008.
Also, on August 15, a revised 2nd quarter transaction fee notice will be sent to entities that met or exceeded the minimum transaction count. This notice will show revised 2nd quarter transaction fee amounts, to be drafted on Aug 28th . Agencies that received a notice dated July 9, 2008 are asked to disregard that earlier notice.
In addition to the key 2008 fee elements above, ARC is reinstating certain miscellaneous fees such as applications for bank account changes, training, changes of ownership, and relocations. These miscellaneous fees had been eliminated as individual charges and were instead bundled with the fees initially proposed by ARC for 2008 - an initiative that regrettably must now be reversed. Miscellaneous fees will not, however, be charged retroactively for the first seven months of the year.
Any questions regarding the debit or credit of revised 2008 fees may be directed to ARC Customer Support Center at firstname.lastname@example.org or 703.816.8003.
About ARC - ARC is a technology solutions company providing transaction settlement and data information services.
Airlines, travel agencies, corporate travel departments, railroads, and other travel suppliers process up to $80 billion annually through ARC's world-class settlement system, making it the financial backbone of travel distribution. ARC COMPASS®, the leading, trusted source for travel transaction information, powers data and analytical tools that help ARC customers make confident business decisions. For more information, please visit www.arccorp.com.