Managing Contracts (Advisors)
- Former user (Deleted)
- Barb Boothe
Active Contracts
For each active contract in the system, the Contract Menu allows you to view important information about the contract.
Requirements
This sections displays all the requirements completed by all parties for the contract you are currently viewing.
Related Contracts
This section displays all the contracts related to the contract you are currently viewing. This could refer to the MGA contract facilitating a Carrier contract, or the AGA contract related to a corporate contract.
Contract Codes
Each contract has an APEXA ID (system generated) that is the same for all parties on the contract. Additionally, a contracting party can assign different codes that are only applicable to you. The codes can be a “Selling Code”, “FundServ Code” and “Corporate Code” and these codes can help the contracting party to identify the lines of business or associate FundServ codes with a contract.
These codes are provided for your reference, but you are not able to edit these codes, as they are determined by the MGA or Carrier.
Debt
The Debt Section allows you to view debts logged against the current contract you are viewing.
Monitoring
This section allows you to see any monitoring that has been logged against the current contract you are viewing.
History
The contract history is available within the contract menu, which is useful for traceability and audit purpose. This section shows a summary of events in the lifecycle of a contract. Whenever a contract changes its status or state, a new entry will be generated.
Terminated Contracts
A partner can choose to terminate their contract with you at any time, if they do not wish to continue the contractual relationship with you. When a partner terminates a contract, the relationship with that party will terminate (as per the effective date indicated). A snapshot of your profile at the time of termination is taken and is available for partners to access.
When you log into APEXA you will see your terminated contract by clicking on view all my contracts or search for that contract. You can click on the application ID and scroll to the bottom of the screen to view the reason for termination.
Transferring Your Contract
Depending on the existing contractual relationships, you can request to transfer an existing Carrier Contract from one entity (Relinquishing Entity) to another entity (Accepting Entity). For example, you can transfer a contract you have with Carrier1 from AGA1 to AGA2 or from AGA1 to MGA1. APEXA does not prevent you from transferring the contract from one level of the hierarchy (MGA) to another (AGA). You cannot transfer a contract from one Carrier to another.
Relinquishing Entity
The Relinquishing entity (i.e. the organization you are looking to transfer your contract from) will be notified that you have requested a transfer when your contract goes into a “Transfer Requested” status.
In the case that an accepting entity denies the transfer request from you, the original contract with the relinquishing entity reverts to active status.
Accepting Entity
The Accepting Entity (i.e. the organization you are looking to transfer your contract to) will be notified that you have requested a contract transfer when the contract appears in their data set with a status of “Active (Transfer Requested)”.
The Accepting Entity needs to have a direct contractual relationship with you and the Carrier implicated in the contract the you wish to transfer.
- Click the Contract Requests.
- Click on New Request.
- Select “I need to transfer one of my Carrier contracts”.
- Click the Next button.
- Select the From entity.
- Select the To entity.
- Select the contract you wish to transfer from the drop-down list.
- Enter the referring party, if applciable.
- Enter any Comments.
- Click Submit.
You can view the status of your transferred contract by clicking on the “view all my contracts”, or by searching for the contract under contract search.