Common use of Credit Control Clause in Contracts

Credit Control. 4.1.1 Non-stressed exit principles The Underwriter will, prior to the service end date, undertake an assessment of the future target operating model for the Credit Control function, and determine whether to bring credit control in-house or outsource to an alternative provider (another MGU, DUA, or third-party processor) such that there is no break in credit control activity. If credit control is brought in-house, the Underwriter will exercise its right to hire existing Coverholder staff under the TUPE (or equivalent) procedure in the first instance. The Coverholder will provide reasonable exit assistance to the Underwriter. This includes facilitating access to the Prequel credit control platform (if not exited as part of service termination) and provision of all data, documentation and reporting required to facilitate the exit. 4.1.2 Stressed exit contingency plan principles The Underwriter will exercise its right to hire existing Coverholder credit control staff under the TUPE (or equivalent) procedure and bring credit control systems, documentation and data in-house. 4.1.3 Resources responsible for implementing the contingency plan The Underwriter CFO is responsible for the contingency plan, with involvement of other specialised resource within the finance function as required. 4.1.4 Critical data to be handed over to the Underwriter Outstanding account balances and unreconciled cash reports will be provided by the Coverholder to facilitate monthly reconciliations. 4.1.5 Alternative systems In the event an exit requires the Underwriter to move off the Prequel platform, alternative vendor package policy administration systems with similar Credit Control functionality are available and could be procured in the medium-term. Alternatively, the Coverholder may decide to implement the Oracle Credit Management module within Oracle Fusion Cloud GL. 4.1.6 Alternative third-party support Credit control roles are moderately skilled; roles may be replaced by an outsourced Coverholder, FTCs, or FTEs with a readily available skillset.