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 simple guide
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.
- Clearing Arrangements
- Payment Calendar
- Banking Arrangements
- 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