Common use of Limitations on credits for Price Category Clause in Contracts

Limitations on credits for Price Category. corrections: Clause 8.7(b) does not apply in respect of an ICP if: (a) clause 8.9 applies to the ICP; or (b) within 20 Working Days of the Switch Event Date recorded for the Trader, the Trader has not provided the Distributor with correct or complete information about the ICP or the Customer necessary to determine Price Category eligibility (provided that information was not already known by the Distributor); (c) the Price Category correction was necessary because the Trader provided the Distributor with incorrect or incomplete information in relation to the ICP or the Customer or any other factors in respect of that ICP that were relevant to the allocation of a Price Category; or (d) the initial Price Category was allocated on the basis of incorrect information provided by the Customer or the Customer’s representative. 8.9 Distributor’s right to change Price Category if it considers Price Category has been Incorrectly Allocated: If at any time the Distributor reasonably considers that a Price Category has been Incorrectly Allocated to an ICP: (a) the Distributor must notify the Trader accordingly, including notification of the reasons why it considers that the Price Category has been Incorrectly Allocated, and identify the Price Category or Price Categories it considers the ICP is eligible for; (b) unless the Trader is able to provide evidence to the Distributor’s reasonable satisfaction within 10 Working Days of the Distributor’s notice that the current Price Category has not been Incorrectly Allocated, the Distributor may: (i) allocate the Price Category that it considers appropriate to that ICP (acting reasonably and consistently with clause 8.1), and (ii) commence charging the Trader for Distribution Services in accordance with that Price Category after a further 40 Working Days; and (c) the Distributor must provide to the Trader information relevant to its decision.