Season the chicken parts on all sides with salt and pepper.
Next, add 1 tablespoon of olive oil or bacon fat to a large rondeau over medium-high heat and brown the chicken for 3 to 4 minutes on each side or until well browned.
Pour the chicken stock over the chicken and turn the heat down to low and cook for 25 to 30 minutes, or until done. Keep warm.
In a separate large rondeau or saucepan, add the remaining 2 tablespoons of oil with the annatto seeds and cook over low for 30 seconds or until the color comes out.
Discard the seeds and then add in the diced peppers, onions, and garlic and saute for 3 to 4 minutes, or until lightly browned.
Add in the tomatoes and stew for 3 to 4 minutes before adding in the olives, cilantro, cumin, coriander, rice, peas, and the 6 cups of chicken stock that the chicken parts are braising in, along with salt and pepper, and stir until combined.
Add the braised chicken parts over top, place a lid on and cook for 25 to 30 minutes over low heat until the rice is tender and has absorbed most of the liquid.
Garnish with chopped cilantro and green onions and serve.
Make-Ahead: You can make this up to 30 minutes ahead of time. Just keep it covered over low heat.How to Store: Place this covered in the refrigerator for up to 5 days. This will freeze covered for up to 3 months. Thaw it in the refrigerator for 1 day before reheating.How to Reheat: Add the desired amount of Arroz con Pollo to a rondeau pot along with 1/2 cup to 1 cup of chicken stock and cook over low heat while frequently stirring until chicken stock is absorbed and the ingredients are hotWhen searing the chicken, be sure not to crowd the pan too much so you can get a good sear. If you need to sear it in batches, then please do it.If you do not have access to chicken stock, then vegetable stock or water will work.