Common use of Details of Security Deposit Clause in Contracts

Details of Security Deposit. This clause 12.2 applies if a Security Deposit is required under this Contract in accordance with this clause 12. (a) The amount of the Security Deposit shall be no greater than 37.5% of Your estimated Bills over a 12 month period based on Your historical billing data or the average consumption of gas by a comparable customer over a comparable 12 month period. (b) The Security Deposit will be kept in a separate trust account and separately identified in Our accounting records. We will pay You Interest on the Security Deposit at the Bank ▇▇▇▇ ▇▇▇▇ Rate, accrued daily and capitalised every 90 days unless paid. We will advise You of the Bank ▇▇▇▇ ▇▇▇▇ Rate on request. (c) We will only use the Security Deposit (plus any applicable accrued interest) to offset, in full or partially, any amount owed to Us: (i) if the Bill has not been paid resulting in gas being disconnected at Your Supply Address and You no longer have any right to reconnection under this Contract; or (ii) if a final Bill issued under this Contract is not paid. (d) Where We use the Security Deposit in accordance with this clause 12, We will provide You with a written statement of how it was used and repay the balance (if any) and remaining interest (if any) to You within 10 Business Days. (e) Where You have provided a Security Deposit in accordance with this clause 12, then subject to clause 12.2(c), We will return the balance of any Security Deposit and any accrued interest payable to You within 10 Business Days after: (i) You have completed 2 years of payment of Bills by the due date of the initial Bill; or (ii) You have left the Supply Address; or (iii) We have disconnected supply at the Supply Address at Your request; or (iv) You have transferred to another retailer. (f) We will return the balance of any Security Deposit and any accrued interest payable to You in accordance with any reasonable instruction. If We do not receive reasonable instruction from You, We will credit the relevant amount to Your account or Your final Bill as applicable.

Details of Security Deposit. This clause 12.2 applies if a Security Deposit is required under this Contract in accordance with this clause 12. (a) The amount of the Security Deposit shall be no greater than 37.5% of Your estimated Bills over a 12 month period based on Your historical billing data or the average consumption of gas by a comparable customer over a comparable 12 month period. (b) The Security Deposit will be kept in a separate trust account and separately identified in Our accounting records. We will pay You Interest on the Security Deposit at the Bank ▇▇▇▇ ▇▇▇▇ Rate, accrued daily and capitalised every 90 days unless paid. We will advise You of the Bank ▇▇▇▇ ▇▇▇▇ Rate on request. (c) We will only use the Security Deposit (plus any applicable accrued interest) to offset, in full or partially, any amount owed to Us: (i) if the Bill has not been paid resulting in gas being disconnected at Your Supply Address and You no longer have any right to reconnection under this Contract; or (ii) if a final Bill issued under this Contract is not paid. (d) Where We use the Security Deposit in accordance with this clause 12, We will provide You with a written statement of how it was used and repay the balance (if any) and remaining interest (if any) to You within 10 Business Days. (e) Where You have provided a Security Deposit in accordance with this clause 12, then subject to clause 12.2(c), We will return the balance of any Security Deposit and any accrued interest payable to You within 10 Business Days after: (i) You have completed 2 years of payment of Bills by the due date of the initial Bill; or (ii) You have left the Supply Address; or (iii) We have disconnected supply at the Supply Address at Your request; or (iv) You have transferred to another retailer. (f) We will return the balance of any Security Deposit and any accrued interest payable to You in accordance with any reasonable instruction. If We do not receive reasonable instruction from You, We will credit the relevant amount to Your account or Your final Bill as applicable.

Details of Security Deposit. This clause 12.2 applies if Where You have provided a Security Deposit is required under this Contract in accordance with this clause 12., the following will apply: (a) The amount of the Security Deposit shall be no greater than 37.5% of Your estimated Bills over a 12 month period based on Your historical billing data or the average consumption of gas by a comparable customer over a comparable 12 month period. (b) The Security Deposit will be kept in a separate trust account and separately identified in Our accounting records. We will pay You Interest on the Security Deposit at the Bank ▇▇▇▇ ▇▇▇▇ Rate, accrued daily and capitalised every 90 days unless paid. We will advise You of the Bank ▇▇▇▇ ▇▇▇▇ Rate on request. (c) We will only use the Security Deposit (plus any applicable accrued interest) to offset, in full or partially, any amount owed to Us: (i) if the Bill has not been paid resulting in gas being disconnected turned off at Your Supply Address and You no longer have any right to reconnection under this Contract; or (ii) if a final Bill issued under this Contract contract is not paid. (d) Where We use the Security Deposit in accordance with this clause 12, We will provide You with a written statement of how it was used and repay the balance (if any) and remaining interest (if any) to You within 10 Business Days. (e) Where You have provided a Security Deposit in accordance with this clause 12, then subject to clause 12.2(c) and 12.2(d), We will return the balance of any Security Deposit and any accrued interest payable to You within 10 Business Days after: (i) You have completed 2 years of payment of Bills by the due date of the initial Bill; or (ii) You have left the Supply Address; or (iii) We have disconnected supply at the Supply Address at Your request; or (iv) You have transferred to another retailer. (f) We will return the balance of any Security Deposit and any accrued interest payable to You in accordance with any reasonable instruction. If We do not receive reasonable instruction from You, We will credit the relevant amount to Your account or Your final Bill as applicable.