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RELATED PARTY TRANSACTIONS | 9 Months Ended
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Sep. 30, 2018
RELATED PARTY TRANSACTIONS [ABSTRACT] |
RELATED PARTY TRANSACTIONS | (15)RELATED PARTY The Company entered into an agreement under which Avion, LLC (“Avion”) and Airmax LLC (“Airmax”) provide certain aviation flight services as requested by the Company. Such services include the use of an aircraft and flight crew. Kenneth D. Tuchman, Chairman and Chief Executive Officer of the Company, has a direct 100% beneficial ownership interest in Avion and Airmax. During the nine months ended September 30, 2018 and 2017, the Company expensed $0.9 million and $0.6 million, respectively, to Avion and Airmax for services provided to the Company. There was $142 thousand in payments due and outstanding to Avion and Airmax as of September 30, 2018. During 2014, the Company entered into a vendor contract with Convercent Inc. to provide learning management and web and telephony based global helpline solutions. This contract was renewed, after an arms-length market pricing review, in the fourth quarter of 2016. The majority owner of Convercent is a company which is owned and controlled by Kenneth D. Tuchman, Chairman and Chief Executive Officer of the Company. During the nine months ended September 30, 2018 and 2017, the Company expensed $45 thousand and $55 thousand, respectively. During 2015, the Company entered into a contract to purchase software from CaféX, is a company in which TTEC holds a 17.2% equity investment in. During the nine months ended September 30, 2018 and 2017, the Company purchased $44 thousand and $60 thousand, respectively, of software from CaféX. See Note 2 for further information regarding this investment. During 2017, in connection with the Motif acquisition, the Company became a party to a real estate lease for a building that is owned by one of the Motif Founders. The lease expires in 2022 and has future payments totaling approximately $105 thousand. Ms. Regina M. Paolillo, Chief Financial and Administrative Officer of the Company, is a member of the board of directors of Welltok, Inc., a consumer health SaaS company, and partner of the Company in Welltok TTEC Communications joint venture. During the nine months ended September 30, 2018 and 2017, the Company recorded revenue of $3.4 million and $3.3 million, respectively, in connection with work performed through the joint venture.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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