P044 – Correction of Notification Errors where Parties are able to satisfy a Reasonable and Prudent Operator Test.

Formal title: Correction of Notification Errors where Parties are able to satisfy a Reasonable and Prudent Operator Test.

Summary

This prospective proposal seeks to allow BSC Parties, to apply to the BSC Panel requesting the ex post creation of ECVNs/MRVNs or amendment of a previously submitted ECVN/MRVN in specific circumstances including where Parties are unable to check submitted data where reports are not received from the ECVAA showing within day notifications and contracted positions; where the claimant can demonstrate beyond all reasonable doubt that it had taken all reasonable steps to prevent notification errors happening and to minimise the impact of errors should they actually occur; the claim is supported by both parties in the case of inter-company transactions and a Director/Company Secretary in the case of intra-company transactions; claims are submitted within clearly defined timescales and subject to a non-returnable administration fee of £5,000.