Glossary
P120
Formal title: Credit Cover during Holiday Periods
Current Status
Submission
Initial Written Assessment
Assessment Procedure
Report Phase
With Authority
Awaiting Implementation
Implemented
Summary
P120 argues that, currently, the levels of Credit Cover required to be provided by Suppliers at times of low demand during holiday periods are not reflective of the actual level of indebtedness of the Supplier. The proposal details specific problems which may result in artificially high levels of Credit Cover being demanded and suppliers being placed into credit default. P120 seeks to remove this perceived distortion of the competitive market and any resulting discrimination against smaller Suppliers.
Progression
P120 was withdrawn by the proposer on 27 March 2003.