Participant Payments” Establish whether there is any Shortfall. If there is no Before 17:00, 4 WD - Market - Shortfall go to step 14. after the date of Operator issue of the Otherwise continue to step 8. Settlement Document Draw down Credit Cover of a Participant with a Shortfall In sufficient time to - Market - and follow Agreed Procedure 9 of Credit meet payment Operator “Management Cover and Credit Default” as required. deadline (before 17:00, 4 WD after If Credit Cover draw down covers the whole of the the date of issue of Shortfall prior to payment of the Settlement Document go the Settlement to step 14, otherwise continue to step 9. Document) Calculate and Debit Notes for the applicable Before 17:00, 4 WD Email / Facsimile Market Reduced Participants. the date of Operator Participant issue of the Settlement Document Pay the net of the Settlement Document and the Debit Before 17:00, 4 In accordance Market Participant Note to each Participant. WDs after the date with Agreed Operator of issue of the Procedure 17 Settlement and “Banking Document Participant Payments” Issue a Default Notice to the Participant and if appropriate, Before 17:00, 4 In accordance Market Defaulting initiate steps for Suspension in Agreed Procedure 18 WDs after the date with Agreed Operator Participant "Suspension and Termination". of issue of the Procedure 18 Settlement and ”Suspension Document Termination”
Participant Payments” Establish whether there is any Shortfall. If there is no Shortfall go to step 14. Otherwise continue to step 8. Before 17:00, 4 WD after the date of issue of the Settlement Document - Market Operator - Draw down Credit Cover of a Participant with a Shortfall and follow Agreed Procedure 9 “Management of Credit Cover and Credit Default” as required. If Credit Cover draw down covers the whole of the Shortfall prior to payment of the Settlement Document go to step 14, otherwise continue to step 9. In sufficient time to meet payment deadline (before 17:00, 4 WD after the date of issue of the Settlement Document) - Market Operator - Calculate and Debit Notes for the applicable Participants. Before 17:00, 4 WD the date of issue of the Settlement Document Email / Facsimile Market Operator Reduced Participant Pay the net of the Settlement Document and the Debit Note to each Participant. Before 17:00, 4 WDs after the date of issue of the Settlement Document In accordance with Agreed Procedure 17 “Banking and Participant Payments” Market Operator Participant Issue a Default Notice to the Participant and if appropriate, initiate steps for Suspension in Agreed Procedure 18 "Suspension and Termination". Before 17:00, 4 WDs after the date of issue of the Settlement Document In accordance with Agreed Procedure 18 ”Suspension and Termination” Market Operator Defaulting Participant
Part-B-Agreed-Procedure-15-Settlement-and-Billing.docx