Glossary Term: Notification Date
By the end of January in each year the Funds Administration Agent (FAA), in consultation with the Settlement Administration Agent (SAA) and subject to the approval of Elexon, determines for each Settlement Day in the following BSC Year the Initial Payment Date, the Initial Notification Date, the Payment Date for each Timetabled Reconciliation Run, the Notification Date for each Timetabled Reconciliation Run and prepares a Payment Calendar showing these dates.
Each Initial Payment Date falls as close as practicable to 29 days after the Settlement Day to which it relates. Payment Dates and Notification Dates fall on a Business Day and no Payment Date is fewer than 3 Business Days after the relevant Notification Date.
BSC defined definition
Means, for any Settlement Day, in relation to the Initial Settlement Run or any Reconciliation Settlement Run, the day on which the SAA is (pursuant to Section N) to provide data and information to the FAA, and the FAA is to provide Advice Notes to Payment Parties, as determined under Section N3;
BSC documentation
- BSC Section N: Clearing, Invoicing & Payment
- Simple Guide on Section N: Clearing Invoicing & Payment