Section N: Clearing, Invoicing & Payment

Section N of the BSC details payments to and from ELEXON Clear and Payment Parties for Trading Charges and Reconciliation Charges; arrangements for the Funds Administration Agent (FAA) to determine and notify Payment Parties of Trading Charges and Reconciliation Charges; payment procedures for the FAA and Payment Parties to follow; the obligations of ELEXON Clear and Payment Parties to make payments for Trading Charges and Reconciliation Charges and the consequences of non-payment; and the basis on which monies and Credit Cover are held by ELEXON Clear.

Section N only applies in relation to Trading Charges and Reconciliation Charges and other payments due under Section N and does not apply to any BSCCo Charges (as specified in Section D) or other payments due from Parties specified elsewhere under the BSC.

Content list

• Clearing Arrangements
• Payment Calendar
• Banking Arrangements
• Taxation
• Advice Notes and Confirmation Notices
• When does the FAA issue Advice Notes?
• When does the FAA issue backing sheets?
• Calculation of Payments and Advice Notes
• Payment Procedure
• Payment Default
• Confirmation Notices in Respect of a Payment Date
• Payment Errors
• Enforcement of Claims
• Ledger Accounts