Glossary
P427 ‘Publication of Performance Assurance Parties’ impact on Settlement Risk’
Formal title: Publication of Performance Assurance Parties’ impact on Settlement Risk
This Modification seeks to amend BSC Section Z to allow the Performance Assurance Board (PAB) to recommend that the Panel publish notices to industry in respect of Performance Assurance Parties’ (PAPs’) contribution to Settlement Risk along with relevant risk data.
This will increase the effectiveness of all detective and investigative Performance Assurance Techniques (PATs) including Error and Failure Resolution (EFR) through greater incentives. Improved efficiency of Performance Assurance Framework (PAF) with swifter resolution rates to EFR plans and any other significant issues that impact Settlement is expected.
Current Status
Submission
Assessment Procedure
Report Phase
With Authority
Awaiting Implementation
Implemented