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

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