Arlington, VA - January 15, 2010 - The ARC settlement for sales PED 01-10-10 that was scheduled to be drawn or credited from agent bank accounts on 01-20-10 settled against a number of agent bank accounts in error on either 01-14 or 01-15. As of 10:30 a.m. Eastern Standard Time, ARC has initiated a reversal of all affected transactions in order to rectify the error.
We request that agents contact their banking institution to ask that they not individually return credits or drafts. This will make the overall uniform reversal process run much smoother for all parties.
"We accept full responsibility for this occurrence and apologize for any inconvenience this has caused our agency community. ARC will reimburse travel agencies for any related charges incurred as a result of our error as we work to rectify the issue," says David Collins, ARC's president and chief executive officer.
Travel agents are asked to contact ARC Customer Care Center at 703.816.8003 or through e-mail at firstname.lastname@example.org with any related questions. Further details regarding reimbursement procedures will follow shortly.
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.