Accounts Reconciliation Centre (ARC)

From 1st November 2014 we will no longer be accepting new ARC applications. ARC is being replaced with Aviva Broker Collections, our new on-line account management system. It's updated daily and allows you to manage all of your account and payment activity with Aviva in one place. For more information or to register your interest in using Aviva Broker Collections please contact your Credit Controller.

Overview

ARC makes accounts easy. The service is free and saves time and money — giving you quick access to management information, plus a whole range of other advantages.

Benefits to you

  • Enhanced commission on items settled early.
  • An online statement of outstanding items at your fingertips.
  • All existing accounts are consolidated into a single view.
  • Same look and feel for all statements.
  • Easy sorting of data, with a logical hierarchy, viewing preferences and search tool.
  • 24-hour safe and secure access using a PC and imarket.
  • A single sign-on through imarket to two major insurer accounts.
  • Transparency of information.
  • Improved query management.
  • Designed to allow for auto-matching and automation of reconciliation, as the system develops.

Useful guidance

To start using ARC, go to imarket select Products, Accounts, and Getting Started. We’ll work with you to complete your set-up, with full online training and support facilities.

Terms & Conditions

  • All brokers must adhere to standard reconciliation and terms of credit, as detailed in their Terms Of Business Agreement (TOBA) for all items not paid early.
  • Pro-rata enhanced commission is payable on part payments cash on accounts paid early.
  • Pro-rata enhanced commission is payable on disputed premiums paid early.
  • Pro-rata enhanced commission is not payable on premiums paid by the customer to Aviva by monthly Direct Debit.
  • Aviva calculate the level of enhanced commission to be paid, with the total enhancement earned in a month payable by agreed method.
  • Aviva preferred monthly settlement of account is by BACS.
  • Payment must be received in Aviva’s bank account by the end of the month in which the payment is due.
  • Items paid by debit/credit card are not included in any enhanced commission benefit at this time.
  • No consideration for loss or compensation will be given for any item where an enhanced commission benefit was not received due to an error by Aviva or on Aviva’s behalf.
  • Calculation to be used to calculate any enhanced commission is as follows:
    (Net Premium × Bank of England Base rate - X) × (Y-365), where X = agreed rate by Aviva (currently 0.65%) and Y = days benefit.
  • The number of days to be applied to any enhanced commission benefit as per the calculation are agreed as those determined by Aviva ARC statement of account.

The arrangement may be terminated by Aviva as follows:

  1. with immediate effect by written notice to the broker if there are reasonable grounds to suspect fraud, or in the event of the bankruptcy, insolvency or liquidation of the broker, or on the approval by the creditor’s broker of a voluntary arrangement or on the making of an administration order in relation to the broker; or
  2. with immediate effect by written notice to the broker if the broker’s authorisation by the Prudential Regulation Authority and or Financial Conduct Authority to undertake any general insurance regulated activities is terminated following any proposed or actual disciplinary proceedings for any failure to comply with these terms and conditions, or for any failure to comply with these terms and conditions in respect of any regulated activities undertaken by the broker in pursuance of the duties delegated to the broker under this arrangement; or,
  3. on written notice if the broker fails to comply with any terms and conditions of this arrangement not included in (a) or (b) above or if the broker’s conduct is deemed by Aviva to be unsatisfactory and the broker fails to remedy such non compliance or unsatisfactory conduct within 30 days of being notified by Aviva.
  • Payment of the enhanced commission will follow submission of the full payment of the account and will be credited to the brokers account via the ARC system.

Terms of the arrangement

  • No consideration for loss or compensation will be given for any item where an enhanced commission benefit was not received due to an error on our behalf.
  • Please use the following calculation to determine any enhanced commission: (Net Premium x Bank of England Base rate - 0.65%) × (Y÷360), where X = agreed rate by us, Y = days benefit.
  • The number of days to be applied to any enhanced commission benefit as per the calculation are agreed as those determined by our ARC statement of account.

Termination of the arrangement

This Agreement may be terminated by the broker or the companies:

  1. without notice if there are reasonable grounds to suspect fraud, or in the event of the bankruptcy, insolvency or liquidation of the Broker or the Companies, or on the approval by creditors of the Broker or the Companies of a voluntary arrangement or on the making of an Administration order in relation to the Broker or the Companies; or,
  2. without notice if the authorisation by the Prudential Regulation Authority and or Financial Conduct Authority of the Broker or the Companies to undertake any general insurance regulated activities is terminated following any proposed or actual disciplinary proceedings for any failure to comply with the Rules, or for any failure to comply with the Rules in respect of any regulated activities undertaken by the Broker in pursuance of the duties delegated to the Broker under this Agreement; or,
  3. if the Broker or the Companies fail to remedy any other breach of this Agreement, or any unsatisfactory Conduct, within a reasonable period of the Broker or the Companies notifying the other party in writing.

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