P122 – Assessment of Credit Cover during Holiday Periods
Formal title: Assessment of Credit Cover during Holiday Periods
P122 argues that, currently, 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 ma y result in artificially high levels of Credit Cover being demanded and suppliers being placed into credit default. P122 seeks to remove this perceived distortion of the competitive market and any resulting discrimination against smaller Suppliers.
The Authority approved the Proposed Modification on 8 September 2003. P123 was implemented in the CVA February 2004 Release on 27 February 2004