STORAGE DATA DECLARATION SERVICE Clause Samples
The STORAGE DATA DECLARATION SERVICE clause defines the obligations and procedures for declaring and managing data stored by a service provider on behalf of a client. Typically, this clause outlines the types of data that must be declared, the format and frequency of such declarations, and the responsibilities of each party in maintaining accurate records of stored data. For example, it may require the provider to submit regular reports detailing the volume and nature of data held, or to notify the client of any changes in storage status. The core function of this clause is to ensure transparency and accountability in data storage, helping both parties track and verify the handling of stored information.
STORAGE DATA DECLARATION SERVICE. The Storage Data Declaration Service is free of charge.
STORAGE DATA DECLARATION SERVICE. As part of Regulation (EU) No. 1227/2011 of 25 October 2011 on wholesale energy market integrity and transparency (hereinafter the "REMIT regulation") and its implementing Regulation (EU) No. 1348/2014 of 17 December 2014 (hereinafter the "Implementing Regulation"), market participants must declare to the Agency for the Cooperation of Energy Regulators ("ACER") the quantity of Gas that the market participant has stored at the end of the gas day, and shall do so at the latest by the following business day. This declaration to ACER must be made by the market participants or on their behalf by the storage facility managers. To enable the Customer to meet his declaration obligation, the Storage Facility Manager offers the Storage Data Declaration Service through which the Quantity of Gas that the Customer has stored in the Storage Facility Manager’s installations at the end of each Day is declared to ACER on the Customer’s behalf, at the latest by the following business day.