Common use of Exception Handling Clause in Contracts

Exception Handling. 6.1. Where a Participant receives a request that cannot be processed (for instance due to invalid customer details), a reject notification should be issued to the sending party within the stated service level. 6.2. Where a Participant receives a request that cannot be processed within the service level due to one of the exception cases listed below, a delay notification should be issued to the sending party within the stated service level. Delay notifications may only be used for the exception cases listed below. 6.3. The following (which are explained further in section 15) are exceptions to normal processes that do not fit completely into the processes in section 5 above and/or which cannot be completed within the timescales in section 5: • In-flight transactions • Residual income • Bulk transfers • Cancellation/Cooling-off period reversal • Exit fee handling • Client authorisation • Pending conversions • Transfer pack • Red and amber pension scam flags • ‘Stronger Nudge’ requirements 6.4. The principles to be followed for in-flight transactions, residual income and bulk transfers are that: (i) discussions will be held between the Participants and agreement reached on how the Transfer will be handled, (ii) the UKETRG and Conversions Group messages should be (but are not required to be) used to implement what was agreed, and (iii) the Service Levels will then apply unless the Participants agree to the contrary. Where the exception handling process isto be initiated, or has already been agreed, by the Participants the Ceding Party must acknowledge receipt of a Portfolio Transfer Request in accordance with the Service Levels. 6.5. Illustrative examples are shown in the Guidance Notes in section 15 below. Section 15 also sets out guidance on cancellation/cooling-off period reversals.

Exception Handling. 6.1. Where a Participant receives a request that cannot be processed (for instance due to invalid customer details), a reject notification should be issued to the sending party within the stated service level. 6.2. Where a Participant receives a request that cannot be processed within the service level due to one of the exception cases listed below, a delay notification should be issued to the sending party within the stated service level. Delay notifications may only be used for the exception cases listed below. 6.3. The following (which are explained further in section 15) are exceptions to normal processes that do not fit completely into the processes in section 5 above and/or which cannot be completed within the timescales in section 5: • In-flight transactions • Residual income • Bulk transfers • Cancellation/Cooling-off period reversal • Exit fee handling • Client authorisation • Pending conversions • Transfer pack • Red and amber pension scam flags • ‘Stronger Nudge’ requirementsconversions 6.4. The principles to be followed for in-flight transactions, residual income and bulk transfers are that: (i) discussions will be held between the Participants and agreement reached on how the Transfer will be handled, (ii) the UKETRG and Conversions Group messages should be (but are not required to be) used to implement what was agreed, and (iii) the Service Levels will then apply unless the Participants agree to the contrary. Where the exception handling process isto is to be initiated, or has already been agreed, by the Participants the Ceding Party must acknowledge receipt of a Portfolio Transfer Request in accordance with the withthe Service Levels. 6.5. Illustrative examples are shown in the Guidance Notes in section 15 below. Section 15 also sets out guidance on cancellation/cooling-off period reversals.

Exception Handling. 6.15.1. Where a Participant receives a request that cannot be processed (for instance due to invalid customer details), a reject notification should be issued to the sending party within the stated service level. 6.25.2. Where a Participant Participany receives a request that cannot be processed within the service level due to one of the exception cases listed below, a delay notification should be issued to the sending party within the stated service level. Delay notifications may only be used for the exception cases listed below. 6.35.3. The following (which are explained further in section 15) are exceptions to normal processes that do not fit completely into the processes in section 5 4 above and/or which cannot be completed within the timescales in section 54: •  In-flight transactions •  Residual income •  Bulk transfers •  Cancellation/Cooling-off period reversal •  Exit fee handling •  Client authorisation •  Pending conversions • Transfer pack • Red and amber pension scam flags • ‘Stronger Nudge’ requirementsconversions 6.45.4. The principles to be followed for in-flight transactions, residual income and bulk transfers are that: (i) discussions will be held between the Participants and agreement reached on how the Transfer will be handled, (ii) the UKETRG and Conversions Group messages should be (but are not required to be) used to implement what was agreed, and (iii) the Service Levels will then apply unless the Participants agree to the contrary. Where the exception handling process isto is to be initiated, or has already been agreed, by the Participants the Ceding Party must acknowledge receipt of a Portfolio Transfer Request in accordance with the Service Levels. 6.5. 5.5. Illustrative examples are shown in the Guidance Notes in section 15 below. Section 15 also sets out guidance on cancellation/cooling-off period reversals.