{"id":2391,"date":"2012-01-12T16:48:03","date_gmt":"2012-01-12T16:48:03","guid":{"rendered":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/?post_type=glossary&#038;p=2391"},"modified":"2021-03-26T12:08:03","modified_gmt":"2021-03-26T12:08:03","slug":"bsc-account","status":"publish","type":"glossary","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/glossary\/bsc-account\/","title":{"rendered":"BSC Account"},"content":{"rendered":"<h2 id=\"bsc-defined-definition\">BSC defined definition<\/h2>\n<p>The FAA shall establish and operate on behalf of the BSC Clearer the following accounts (each a &#x201C;BSC Account&#x201D;) in the name of the BSC Clearer:<\/p>\n<ul>\n<li>(a) a Clearing Account with the BSC Banker to and from which all payments determined in accordance with this Section N are to be made<\/li>\n<li>(b) a Collection Account at each Collection Bank<\/li>\n<li>(c) a Reserve Account with the BSC Banker to which all Cash Cover, proceeds of Letters of Credit and other amounts specified in this Section N shall be credited<\/li>\n<li>(d) a Borrowing Account with the BSC Banker on which the FAA on behalf of the BSC Clearer may make permitted drawings under the Credit Facility<\/li>\n<li>(e) any other account that the FAA (with the prior written consent of BSCCo) considers desirable to enable the BSC Clearer to perform any obligations imposed on it by this Section N; has the meaning given to that term in Section N4.1.<\/li>\n<\/ul>\n<h3>BSC documentation<\/h3>\n<ul>\n<li>\n<p class=\"panel-title\"><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/the-bsc\/bsc-section-n-clearing-invoicing-and-payment\/\">BSC Section N &#x2013; Clearing, Invoicing and Payment<\/a><\/p>\n<\/li>\n<li><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/documents\/bsc-codes\/bsc-sections\/bsc-section-x-1-general-glossary\/\">BSC Section X, Annex 1<\/a><\/li>\n<\/ul>\n\n","protected":false},"template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false},"tags":[],"class_list":["post-2391","glossary","type-glossary","status-publish","hentry"],"acf":[],"semantic_search":{"post_id":2391,"title":"BSC Account","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/glossary\/bsc-account\/","categories":[],"tags":[],"content":"\n\n\n<div class=\"panel-content\">\n\t<p>The Funds Administration Agent (FAA) establishes and operates on behalf of each BSC Account in the name of the BSC Clearer.<\/p>\n\n\t<h2 id=\"bsc-defined-definition\">BSC defined definition<\/h2>\n<p>The FAA shall establish and operate on behalf of the BSC Clearer the following accounts (each a &#x201C;BSC Account&#x201D;) in the name of the BSC Clearer:<\/p>\n<ul>\n<li>(a) a Clearing Account with the BSC Banker to and from which all payments determined in accordance with this Section N are to be made<\/li>\n<li>(b) a Collection Account at each Collection Bank<\/li>\n<li>(c) a Reserve Account with the BSC Banker to which all Cash Cover, proceeds of Letters of Credit and other amounts specified in this Section N shall be credited<\/li>\n<li>(d) a Borrowing Account with the BSC Banker on which the FAA on behalf of the BSC Clearer may make permitted drawings under the Credit Facility<\/li>\n<li>(e) any other account that the FAA (with the prior written consent of BSCCo) considers desirable to enable the BSC Clearer to perform any obligations imposed on it by this Section N; has the meaning given to that term in Section N4.1.<\/li>\n<\/ul>\n<h3>BSC documentation<\/h3>\n<ul>\n<li>\n<p class=\"panel-title\"><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/the-bsc\/bsc-section-n-clearing-invoicing-and-payment\/\">BSC Section N &#x2013; Clearing, Invoicing and Payment<\/a><\/p>\n<\/li>\n<li><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/documents\/bsc-codes\/bsc-sections\/bsc-section-x-1-general-glossary\/\">BSC Section X, Annex 1<\/a><\/li>\n<\/ul>\n\n<\/div>","s3_url":""},"_links":{"self":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/glossary\/2391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/types\/glossary"}],"version-history":[{"count":0,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/glossary\/2391\/revisions"}],"wp:attachment":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/media?parent=2391"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/tags?post=2391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}