Small Business Debt Reduction Agreement
- Introduction
These terms and conditions apply to the Debt Reduction Agreement (the “Agreement”) entered into between EDF Energy Customers Limited ("EDF", "we", "us" or "our") and the customer that has opted into the Agreement ("Customer", "you" or "your"). By opting in to the Agreement, you agree to be bound by the following terms and conditions together with any specific rules set out in any communications or documents relating to the Agreement.
The purpose of this Agreement is to provide a reduction in your outstanding debt in return for certain commitments relating to your energy supply arrangements.
2. Definitions
Debt Reduction Amount means £10.00.
Outstanding Debt means all amounts owed by you to EDF in connection with the supply of electricity and/or gas to the Site from time to time.
Site means the premises identified in your EDF account.
Supply Services means the supply of electricity and/or gas by EDF to the Site.
Transfer Request means any request or process intended to transfer the Supply Services from EDF to another supplier.
3. Debt Reduction
3.1. In consideration of your agreement to these terms, EDF shall apply the Debt Reduction Amount as a credit to your account.
3.2. The Debt Reduction Amount:
(a) shall be applied solely to reduce the Outstanding Debt;
(b) is not payable in cash;
(c) does not constitute a waiver of any remaining Outstanding Debt; and
(d) is conditional upon your compliance with this Agreement.
4. Customer Commitments
4.1. In consideration of the Debt Reduction Amount, you agree that:
(a) you will continue to take the Supply Services from EDF;
(b) you will not seek to transfer the Supply Services to another supplier whilst any Outstanding Debt remains outstanding;
(c) you will continue to pay all charges arising after the date of this Agreement in accordance with EDF's applicable Supply Services terms and conditions; and
(d) you will engage reasonably with EDF in relation to repayment of the Outstanding Debt
5. Authorisation to Object
5.1. You expressly agree that EDF may object to any Transfer Request submitted in breach of clause 4.1(b).
5.2. You authorise EDF to notify any relevant industry body, supplier or service provider that a Transfer Request is disputed and subject to the restrictions contained in this Agreement.
5.3. You acknowledge that EDF entering an objection in accordance with this Agreement shall not constitute a breach of duty owed to you.
6. Recovery of Debt Reduction Amount
6.1. If:
(a) you breach clause 4;
(b) you provide false or misleading information to EDF; or
(c) you seek to transfer the Supply Services in breach of this Agreement,
EDF may reverse all or part of the Debt Reduction Amount by reapplying the relevant amount to your account.
6.2. Any amount reapplied under clause 6.1 shall become immediately due and payable.
7. Term
7.1. This Agreement shall commence on the date you accept it.
7.2. This Agreement shall continue until:
(a) the Outstanding Debt has been paid in full; or
(b) EDF confirms in writing that this Agreement has ended.
8. General
8.1. By opting in to and participating in the Agreement, you warrant that all information submitted is true, current, and complete. If any information is found to be fraudulent or incorrectly completed or if we have reasonable grounds to believe that you are in breach of these terms and conditions, we may remove you from the Agreement and reapply any Debt Reduction Amounts previously credited.
8.2. We are not liable to you for any loss that is incurred under this Agreement, including but not limited to any losses which arise from any technological or procedural omissions, failures, or errors and/or any action or inaction by us or any third parties or event beyond direct control.
8.3. In our sole discretion, we reserve the right to reject or revoke your participation in this Agreement, withdraw from or pause the Agreement, and/or amend these terms and conditions without prior notice during its term. Any decision taken by us under this Clause 8 shall be effective immediately. We shall notify you if amendments are made to these terms and conditions during the term. We reserve the right to change these terms and conditions in compliance with judicial or regulatory rulings and will not be held liable.
9. Entire Agreement
This Agreement constitutes the entire agreement between the parties relating to its subject matter.
10. Governing Law
The courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this Agreement or its subject matter or formation.