eligible body (eb) monthly dowry report
TRANSCRIPT
ELIGIBLE BODY (EB) MONTHLY DOWRY REPORT
As per Clause 3.19 of the Incentivised Switching Agreement, each Company is required to complete this report and submit it to Banking Competition Remedies Limited (BCR) within five Business Days of the end of each Assessment Period. This report is due monthly from the beginning of July 2019.
Please complete this report and upload it to the data room.
Please ensure that the data in this report does not include customers names or any other personal customer details.
This report should be used in conjunction with the ISS Reporting Guidance.
See the end of this document and the ISS Reporting Guidance for definitions of key terms.
Company Name:
Company Registered Number:
Assessment Period (MM-YY):
Date of Submission:
Monthly Summary:
Please provide in the tables below:
The proportion (£) of the relevant Dowry payment that has been paid directly (as cash), to Transferring Target Customers during the relevant Assessment Period.
The proportion (£) of the relevant Dowry payment that has been given directly (direct incentives other than cash), to Transferring Target Customers during the relevant
Assessment Period.
The proportion (£) and brief explanation of how any remaining amounts of the Dowry payment have been applied for the benefit of Transferring Target Customers.
The proportion (£) and brief explanation of any dowry unable to be used for the benefit of Transferring Target Customers.
BCR DOWRY
PAYMENT
TOTAL AMOUNT OF
RELEVANT DOWRY
PAYMENT (£X.XX)
PROPORTION (£X.XX) OF THE
RELEVANT DOWRY
PAYMENT PAID DIRECTLY
TO CUSTOMERS (AS CASH)
PROPORTION (£X.XX) OF THE
RELEVANT DOWRY
PAYMENT GIVEN DIRECTLY
TO CUSTOMERS
(INCENTIVES OTHER THAN
CASH)
PROPORTION (£X.XX) OF THE
RELEVANT DOWRY
REMAINING AMOUNTS APPLIED FOR THE BENEFIT OF
CUSTOMERS
PROPORTION (£X.XX) OF THE
RELEVANT DOWRY UNABLE
TO BE USED TO BENEFIT
CUSTOMERS
Payment 1 - Jun-19*Payment 2 - Sep-19*Payment 3 - Dec-19*Payment 4 - Mar-20*Payment 5 - Jun-20*Payment 6 - Sep-20*Payment 7 - Dec-20*Payment 8 - Mar-21*Payment 9 - Jun-21*Payment 10 - Sep-21*
BCR DOWRY
PAYMENT
EXPLANATION OF HOW REMAINING AMOUNTS APPLIED FOR THE BENEFIT OF CUSTOMERS
EXPLANATION OF RELEVANT DOWRY UNABLE TO BE USED TO BENEFITCUSTOMERS
Payment 1 - Jun-19*
Payment 2 - Sep-19*
Payment 3 - Dec-19*
Payment 4 - Mar-20*
Payment 5 -Jun-20*
BCR DOWRY
PAYMENT
EXPLANATION OF HOW REMAINING AMOUNTS APPLIED FOR THE BENEFIT OF CUSTOMERS
EXPLANATION OF RELEVANT DOWRY UNABLE TO BE USED TO BENEFITCUSTOMERS
Payment 6 - Sep-20*
Payment 7 - Dec-20*
Payment 8 - Mar-21*
Payment 9 - Jun-21*
Payment 10 - Sep-21*
*Dependent on when BCR make the Dowry payments
DEFINITIONS:
“Assessment Information”, Clauses 3.19(A) and (B), together with Clauses 3.18(A) to (C) of the Incentivised Switching Agreement; (Incentivised Switching Agreement)
“Assessment Period” means a full calendar month; (Incentivised Switching Agreement)
“Dowry” means an amount of the Incentivised Switching Fund which may be distributed by the Independent Body to an Incentivised Switching Beneficiary who has entered into an Incentivised Switching Agreement in respect of any Transferring Target Customers in accordance with the Dowry Calculation Schedule; (Incentivised Switching Terms & Conditions)
“Target Customer” means a customer of RBS (or a subsidiary of RBS) within the Perimeter as at the date on which the Independent Body first marketed Incentivised Switching to any Applicant Company (or such later date as may be specified in the Dowry Calculation Schedule) which is an SME; (Incentivised Switching Terms & Conditions)
“Transferring Target Customers” means a Target Customer that closes its Primary Account(s) with RBS and has opened a BCA with an Applicant Company; (Incentivised Switching Terms & Conditions) i.e. the customer has successfully switched their account.
DISCLAIMER:
The Company shall provide to BCR evidence to BCR satisfaction in support of the Assessment Information and such other information as BCR may reasonably request.
The Company represents and warrants (on the date of this Agreement and on each date on which any Assessment Information and/or supporting evidence is provided by the Company to BCR), that the Assessment Information and any evidence provided by the Company to BCR in support of the Assessment Information is true, accurate and complete and not misleading. (Incentivised Switching Agreement)
This template is designed to standardise the provision of the reports and should not be altered by the Company unless specifically indicated in the template. BCR may
however change this report template at any time.
Any variance to the above may result in BCR rejecting this report.
For any queries please contact [email protected] via your ISS data room or see the BCR website FAQ.