DOCSLIB.ORG

A New Pricing Framework for Openreach

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A New Pricing Framework for Openreach A New Pricing Framework for Openreach Second Consultation Publication date: 5 December 2008 Closing Date for Responses: 20 February 2009 1 A New Pricing Framework for Openreach – second consultation Contents Section Page 1 Summary 3 2 Scope 10 3 Recent market developments 17 4 Openreach’s current financial performance 22 5 Review of the financial evidence 28 6 Implications for charges 44 7 Setting prices for the ancillary services 60 8 Proposals 66 Annex Page 1 Responding to this consultation 79 2 Ofcom’s consultation principles 81 3 Consultation response cover sheet 82 4 Consultation questions 84 5 Impact Assessment 86 6 Review of the wholesale local access market 118 7 Service categories 139 8 Draft revised LLU charge control conditions and proposed modification to the WLR direction 156 9 Openreach’s cost projections 193 10 Review of the financial evidence 211 11 Volume forecasts 240 12 Cost of Capital 246 13 International benchmarking 263 14 Potential for efficiency gains 267 15 Responses to the First Consultation 275 2 A New Pricing Framework for Openreach – second consultation Section 1 1 Summary Introduction 1.1 BT Group plc ('BT') is subject to SMP conditions including price controls and cost orientation obligations in relation to Wholesale Line Rental (WLR) and Local Loop Unbundling (LLU) 1.2 In 2005, BT offered and Ofcom accepted a set of undertakings ('the Undertakings') pursuant to Section 154 of the Enterprise Act 2002. These Undertakings included the commitment to establish a new organisation, Openreach, which is separate from the rest of BT. 1.3 Openreach is required to provide services to competing providers of telecommunications services (“CPs”). These include: • WLR; • LLU which includes fully unbundled lines (Metallic Path Facility or “MPF”) and shared unbundled lines (Shared MPF or “SMPF”); and • Ethernet services. 1.4 In May 2008, we published a consultation document, “A New Pricing Framework for Openreach” (the “First Consultation”1). This set out our proposals to review certain aspects of the regulatory regime, including the prices of all of these regulated access network services; certain other access and backhaul services are covered by the separate Leased Line Charge Control review. The scope of this review therefore includes the charges for WLR, MPF and SMPF rentals (the “Core Rental Services”) and related services. 1.5 The First Consultation explained that the review would be held in two stages. The purpose of the First Consultation was to obtain Stakeholder views on a range of issues relating to the review, including the objectives, our proposed approach and the potential implications of different outcomes. 1.6 This, the Second Consultation, sets out a range of proposals for modified price controls. It also describes the key assumptions and parameters which will inform our final conclusions on the charge controls. The latter will be set out in a Statement which we expect to publish in the first quarter of 2009. 1.7 We have also begun a new market review on fixed wholesale narrowband services with a view to publishing a consultation around March 2009. This will consider, amongst other things, whether BT continues to have market power with respect to WLR services. A market review on wholesale local access is also expected to begin in 2009. It will consider the need for any future regulation of the other services to which our proposals relate, including MPF and SMPF. 1 http://www.ofcom.org.uk/consult/condocs/openreach/openreachcondoc.pdf 3 A New Pricing Framework for Openreach – second consultation 1.8 However, we consider the current charge ceilings – which are fixed in nominal terms and unlimited in their duration - are no longer appropriate. We remain of the opinion, set out in the First Consultation, that the controls need to be reviewed now. 1.9 To provide the appropriate market context for this review, it is necessary to look ahead several years, which we have done through analysing the appropriate market and financial data to the end of 2012/13. In this document we, therefore, set out specific proposals for the adjustment of the relevant charges over the next 1-2 years, but in the context of the changes we anticipate over a full 4 year period. 1.10 The long term charge controls will be considered further as we complete the relevant market reviews. We would expect to rely on analysis and proposals set out in this consultation, and the Statement which will follow, in the event that we conclude that charge controls continue to be appropriate for the relevant access services. 1.11 There are significant uncertainties surrounding the short term macro- economic outlook and capital markets continue to exhibit unusual levels of volatility. Setting a new set of charge controls in this context is challenging. In particular, we recognise the possibility that certain eventualities (such as general price deflation) may present unforeseen challenges that necessitate review of the controls that we set following the consultation. In light of this we will closely monitor the effectiveness of our new controls, and intervene if such circumstances require. The first consultation 1.12 In the First Consultation, we explained that the current charge ceilings for the Core Rental Services are fixed in nominal terms and have not changed since they were set in 2005. When they were first set, we indicated that it would be appropriate to review the charge controls within the first few years of operation. 1.13 There have been significant developments since these charges were set. CPs have invested heavily in LLU. Openreach and the CPs are also facing important decisions including those relating to potential investment in unbundling further local exchanges and other new infrastructure. 1.14 In the First Consultation, we also set out the financial evidence presented by Openreach at that time. This indicated that the prevailing level of the regulated charges may not be sustainable, and that there may also be a case for increasing the price of MPF relative to WLR. We invited Stakeholder responses on our initial views that: • Infrastructure competition has been working well and is delivering substantial benefits to consumers; • Openreach has been making a reasonable overall rate of return to date based on the prevailing regulated access prices; • This is likely to change if the impact of cost inflation cannot be mitigated, thus potentially bringing into question the sustainability of the current price ceilings; 4 A New Pricing Framework for Openreach – second consultation • There appears to be financial evidence to support a case for increases in the prices of the current regulated services; • The strength of this evidence is critically dependent on a number of key assumptions; and • The foregoing must be considered alongside other evidence, including international benchmarking and the impact price changes might have on infrastructure competition, consumers and future investment decisions. Responses and other developments 1.15 We received 14 responses to our First Consultation. These are listed in Annex 16 and include responses from Openreach, other CPs, and organisations representing the interests of the communications industry and employees, and individuals. Non –confidential responses can be reviewed on our website2. 1.16 Stakeholders generally agreed that infrastructure competition has been working well and agreed that this review should aim to promote efficient and sustainable competition in the future. 1.17 However, Stakeholders did not all agree that there is a persuasive case for price increases. Some stakeholders suggested that prices should fall. Stakeholders expressed a range of views on the key assumptions to be taken into account when determining charges, particularly regarding the appropriate rate of return and the potential for efficiency gains. 1.18 Several stakeholders also expressed the view that greater disclosure of the data underlying the case for price changes was necessary. In particular, they considered this to be necessary to ensure that the consultation process is informed and effective. We have drafted this document with this in mind. 1.19 Since these initial responses were received, we have also received further information from Carphone Warehouse and from Openreach. At our request, Openreach has also provided updated financial projections to cover the period to 2012/13. Openreach also revised (upwards) its assessment of the costs it considers should be recovered through the regulated charges. Carphone Warehouse’s additional response is available with the other responses on our website. To the extent it has informed our proposals, we describe the further information provided by Openreach in this document. 1.20 The period since May, when we published the first consultation, has also been characterised by significant volatility in the financial markets. This is pertinent to our consideration of the appropriate cost of capital and is, therefore, a factor we have analysed further in this second consultation. 1.21 We consider that this new information is relevant to our assessment of the pricing framework for Openreach and should, therefore, be taken into consideration. This Consultation sets out this new information and analysis and shows how we have taken it into account in shaping our proposals. 2http://www.ofcom.org.uk/consult/condocs/openreach/responses/ 5 A New Pricing Framework for Openreach – second consultation The second consultation 1.22 Informed by the responses to the First Consultation
Load more

Recommended publications
  • Openreach Limited1
    Promoting competition and investment in fibre networks: Wholesale Fixed Telecoms Market Review 2021-2026 NON CONFIDENTIAL VERSION 15 May 2020 Foreword This response is provided by Openreach Limited1. Openreach is a wholesale network provider. We support more than 600 Communications Providers (CPs) to connect the 30 million UK homes and business to their networks. We sell our products and services to CPs so they can add their own products and provide their customers with bundled landline, mobile, broadband, TV and data services. Our services are available to everybody and our products have the same prices, terms and conditions, no matter who buys them. 1 Openreach Limited is a wholly owned subsidiary of BT Group Plc. 2 Contents Section 1 Executive Summary 4 Section 2 Market definition and assessing market power 15 Section 3 Pricing of WLA services 30 Section 4 Regulation of geographic discounts and other commercial terms 38 Section 5 Copper retirement 63 Section 6 Duct & Pole Access 69 Section 7 Leased Lines & Dark Fibre Access 114 Section 8 Quality of Service 158 Section 9 Pricing Remedies 227 3 1. Executive Summary Key points 1.1 Openreach is making this response at an unprecedented time as the country focuses on dealing with the challenges posed by COVID-19. Keeping the Nation’s communications network going has never been more important and our current focus is on keeping the UK connected and doing the essential work that is required to maintain and enhance our network. We have responded to this consultation as fully as possible given the current circumstances but would note that the full impact of COVID-19 and the time it will take to fully recovery cannot yet be forecast with any certainty.
    [Show full text]
  • Notice of Meeting 2014
    Notice of Meeting 2014 This document is important and requires your immediate attention. If you are in any doubt about the action you should take, you should consult your independent financial adviser. If you have recently sold or transferred your shares in Severn Trent Plc please forward this document to your bank, stockbroker or other agent through or to whom the sale or transfer was effected for delivery to the purchaser or transferee. Dear Shareholder This year’s Annual General Meeting (the ‘Meeting’) will be held at the International Convention Centre in Birmingham on Wednesday 16 July 2014 at 11am and the formal notice of the Meeting is set out overleaf (the ‘Notice’). If you would like to vote on the Resolutions in the Notice but cannot come to the Meeting, please fill in the Form of Proxy sent to you with the Notice and return it to Equiniti (our registrar) as soon as possible. Equiniti must receive the Form of Proxy by 11am on Monday 14 July 2014. Alternatively, you can vote online at www.sharevote.co.uk If you are a registered shareholder holding shares in your own name and have not elected to receive communications in paper form by post or if you have elected to receive paper notification that shareholder communications are available to view online, I can advise you that the Annual Report and Accounts for the year ended 31 March 2014 is now available online at www.severntrent.com Please note that the company operates a Dividend Reinvestment Plan, which gives shareholders the option of using their dividend payments to buy more shares in Severn Trent Plc (the ‘Company’) at favourable commission rates.
    [Show full text]
  • Question 3.1: Do You Agree with Ofcom’S Proposal to Set Synchronised Charge Controls for LLU and WLR?
    NON-CONFIDENTIAL VERSION OFCOM CHARGE CONTROL REVIEW FOR LLU AND WLR SERVICES – CONSULTATION ISSUED 31 MARCH 2011 RESPONSE BY EVERYTHING EVERYWHERE LIMITED A. INTRODUCTION Everything Everywhere Limited (EE) welcomes the opportunity to respond to Ofcom’s important consultation on the next charge control review for local loop unbundling (LLU) and wholesale line rental (WLR) services, issued on 31 March 2011 (the Consultation). This Consultation is of key commercial and competitive significance for the success of EE’s Orange Home fixed voice and broadband business going forward. In this regard we note that, whilst during the course of 2011 we have been moving from a direct shared metallic path facility (SMPF) and WLR based mode of providing these retail services to providing our retail services through a wholesale arrangement with BT, [][]. The comments in this response represent the views of EE. It should be noted that the views of EE’s shareholders and those of the holding companies and ultimate parent companies may vary from these views. Those parts of this response marked with [] and highlighted in blue are confidential to EE. B. EXECUTIVE SUMMARY EE’s experience of LLU regulation and market conditions in the UK as an SMPF based service provider has been a telling one. Most notably, following the initial successes of Ofcom LLU policy in stimulating SMPF based retail broadband competition, progressive changes to regulatory investment ladder have resulted in us witnessing over the last five years the market exit of a very large proportion of the SMPF “early adopters” (e.g. Tiscali, AOL, Pipex, Bulldog). In May 2011, we have also seen the total number of unbundled lines in the UK falling rather than growing for the first time in several years, from 7.62 million lines in April 2011 to 7.56 million lines in May 20111.
    [Show full text]
  • Openreach Limited Annual Report and Financial Statements 31 March
    Openreach Limited Annual Report and Financial Statements 31 March 2020 Registered number: 10690039 Openreach Limited Contents: Page Corporate Information 2 Strategic Report 3 Directors’ Report 6 Statement of Directors’ Responsibilities 12 Independent Auditor’s Report to the Members of Openreach Limited 13 Profit and Loss Account 16 Balance Sheet 17 Statement of Changes in Equity 18 Notes to the Financial Statements 19 1 Openreach Limited Corporate Information Directors E Astle B Barber (resigned 31 May 2020) A Barron (appointed 1 June 2020) E Benison M Davies S Lowth R McTighe C Selley Secretary J Furmston Auditor KPMG LLP 15 Canada Square, London. E14 5GL Registered Office 123 Judd Street London WC1H 9NP 2 Openreach Limited Strategic Report The directors present their strategic report for Openreach Limited (“the Company”) for the year ended 31 March 2020. Business Review Openreach Limited was set up as part of the regulatory agreement reached between British Telecommunications plc and Ofcom under the Digital Communications Review (“DCR”). During the year the Company has continued to carry out its principal activities which are to set the Openreach strategy (within British Telecommunications plc’s overall strategic framework), employ Openreach employees and to oversee and manage the performance of the Openreach Customer Facing Unit (“CFU”), a division of British Telecommunications plc on behalf of British Telecommunications plc within a framework agreed between the Company and British Telecommunications plc. British Telecommunications plc has committed to fund the costs of the services provided by the Company, initially in accordance with the Transitional Agreement contract executed on 15 December 2017 between the Company and British Telecommunications plc and subsequently in accordance with the Agency & Services Agreement which came into effect on 1 October 2018, resulting in the automatic termination of the Transitional Agreement.
    [Show full text]
  • BT Group Regulatory Affairs, Response Remove All 4
    Annex to the BT response to Ofcom’s consultation on promoting competition and investment in fibre networks – Wholesale Fixed Telecoms Market Review 2021-26 29 May 2020 Non - confidential version Branding: only keep logos if the response is on behalf of more than one brand, i.e. BT/Openreach joint response or BT/EE/Plusnet joint response. Comments should be addressed to: Remove the other brands, or if it is purely a BT BT Group Regulatory Affairs, response remove all 4. BT Centre, London, EC1A 7AJ [email protected] BT RESPONSE TO OFCOM’S CONSULTATION ON COMPETITION AND INVESTMENT IN FIBRE NETWORKS 2 Contents CONTENTS .................................................................................................................................................. 2 A1. COMPASS LEXECON: REVIEW OF OFCOM'S APPROACH TO ASSESSING ULTRAFAST MARKET POWER 3 A2. ALTNET ULTRAFAST DEPLOYMENTS AND INVESTMENT FUNDING ...................................................... 4 A3. EXAMPLES OF INCREASING PRICE PRESSURE IN BUSINESS TENDERING MARKETS .............................. 6 A4. MARKET ANALYSIS AND REMEDIES RELATED TO PHYSICAL INFRASTRUCTURE ................................... 7 Our assessment of Ofcom’s market analysis ............................................................................................ 8 Our assessment of Ofcom’s remedies .................................................................................................... 12 A5. RISKS BORNE BY INVESTORS IN BT’S FIBRE INVESTMENT ................................................................
    [Show full text]
  • Telefónica O2 Uk Limited Response To: “Review of The
    TELEFÓNICA O2 UK LIMITED RESPONSE TO: “REVIEW OF THE WHOLESALE LOCAL ACCESS MARKET” PUBLISHED BY OFCOM JUNE 2010 Telefónica O2 UK Limited Wellington Street Slough Berkshire SL1 1YP UK t +44 (0)113 272 2000 www.o2.com Telefónica O2 UK Limited Registered in England & Wales no. 1743099 Registered Office: 260 Bath Road Slough Berkshire SL1 4DX UK TABLE OF CONTENTS SECTION 1: EXECUTIVE SUMMARY.................................................................................................................... 4 INTRODUCTION .....................................................................................................................................4 THE IMPORTANCE OF A BALANCED REGULATORY REGIME ....................................................................5 MAKING IT ALL WORK FOR CUSTOMERS................................................................................................5 PROMOTING COMPETITIVE DIFFERENTIATION FOR CUSTOMERS.............................................................6 ARTIFICIALLY CONSTRAINING THE PRODUCT SET WILL LIMIT THE ROLLOUT OF NGA ..........................6 O2 RECOMMENDATIONS........................................................................................................................7 General ............................................................................................................................................7 The risk of gaming ...........................................................................................................................7 Improve
    [Show full text]
  • European Telecom Services: the Rise of the Wholesale-Only Model
    Equity Research 3 May 2018 European Telecom Services INDUSTRY UPDATE The rise of the Wholesale-Only model European Telecom Services Until recently it was almost unthinkable that any company would consider creating POSITIVE a third expensive parallel Telecom infrastructure, competing with EU incumbents Unchanged and cable, given the high barrier to entry/cost of rollout, relatively stable competition plus mature nature of the industry. However, we are now seeing European Telecom Services strategic moves across a number of European markets, with Open Fiber in Italy the Maurice Patrick highest profile case study, and others following. In this detailed report we analyse +44 (0)20 3134 3622 Open Fiber’s prospects, its key success factors, and identify risks to other EU [email protected] markets. We conclude that Italy is in many ways a “perfect storm”, creating a fertile Barclays, UK investment opportunity for alternative infrastructure. Only Germany and the UK are Mathieu Robilliard likely to see wholesale only on a similar scale, given low incumbent FTTH builds and +44 203 134 3288 high service provider interest. Today we downgraded BT to EW and upgraded TEF [email protected] DE to OW, and we believe OW-rated VOD and ORA are de-risked vs. peers. Barclays, UK Open Fiber – Driving cost-effective rollout and high penetration. Open Fiber will Daniel Morris double its FTTH footprint to c5m homes by end-2018, and 19m by 2023. The company +44 (0)20 7773 2113 sees c.50% penetration in “mature” areas, with newly built areas at c.10% and rising, [email protected] per our recent meeting.
    [Show full text]
  • “Tics Para La Mejora De La Competitividad Energética”
    Guía de referencia “TICs para la mejora de la competitividad energética” Tendencias, Soluciones y 100 proveedores fundamentales M2M Tele pre se er nc t ia en C ta a D artCities Sm A M u orac o t b ió v o IT la n i o li m n C d - E a e d a e t n i i d z e f ó r a i i t c G c s i i o n ó e S s n ó g i m e I l c n o e a a c t T i e z r i r t l l t G i g a c i r e r é i l n e d t E t e s a V s m o s l e D i rt u c u í C h l a o e g u V d li n i z r a e t c i e ó n M t r a m S R e a l i d a a d d a A t u n e m Plataforma de empresas TIC para la mejora de la Eficiencia Energética Eficiencia la de mejora la para TIC empresas de Plataforma “TICs para la mejora de la competitividad energética” competitividad la de mejora la para “TICs Guía de referencia de Guía índice Prólogo 4 Perspectiva general: Eficiencia Energética 6 Impulso de las Admnistraciones Públicas 15 10 Principales tendencias en SmartEnergy 21 Soluciones Tecnológicas en 4 áreas 37 Empresas asociadas 49 Otros proveedores fundamentales 73 Red de colaboración institucional 75 Organismos y Enlaces de referencia 79 10 documentos de referencia 85 Misión, objetivos e iniciativas de enerTIC 87 > Ir a Indice Prólogo Inmersos en unos tiempos de grandes cambios y oportunidades, la Plataforma enerTIC, surge como un proyecto para generar sinergias, colaborar con otras organizaciones nacionales e internacionales, y contribuir al desarrollo del potencial de transformación de las Tecnologías de la Información y Comunicaciones en el ámbito de la eficiencia energética en España.
    [Show full text]
  • Admission Document Prepared in Accordance with the AIM Rules
    233582 Gold Cover Spread 8mm Spine 07/10/2014 14:06 Page 1 Placing and Admission to AIM Gamma Communications plc Nominated AdviserAdviser,, Broker & Sole Bookrunner Perivan Financial Print 233582 233582 Gold pp001-pp004 07/10/2014 14:06 Page 1 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in any doubt as to the contents of this document or as to what action you should take you should consult your stockbroker, bank manager, solicitor, accountant or other independent financial adviser authorised under the Financial Services and Markets Act 2000 (“FSMA”) who specialises in advising on the acquisition of shares and other securities. This document comprises an admission document prepared in accordance with the AIM Rules. Application will be made for the Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that trading in the Ordinary Shares on AIM will commence at 8.00 a.m. on 10 October 2014. The Ordinary Shares are not dealt on any other recognised investment exchange and it is emphasised that no application has been, or is being, made for the Ordinary Shares to be admitted to any such exchange. This document is not an approved prospectus for the purposes of section 85 of FSMA, has not been prepared in accordance with the Prospectus Rules published by the Financial Conduct Authority (“FCA”) and a copy of it has not been, and will not be, delivered to the UK Listing Authority in accordance with the Prospectus Rules or delivered to or approved by any other authority which could be a competent authority for the purposes of the Prospectus Directive.
    [Show full text]
  • Société, Information Et Nouvelles Technologies: Le Cas De La Grande
    Société, information et nouvelles technologies : le cas de la Grande-Bretagne Jacqueline Colnel To cite this version: Jacqueline Colnel. Société, information et nouvelles technologies : le cas de la Grande-Bretagne. Sciences de l’information et de la communication. Université de la Sorbonne nouvelle - Paris III, 2009. Français. NNT : 2009PA030015. tel-01356701 HAL Id: tel-01356701 https://tel.archives-ouvertes.fr/tel-01356701 Submitted on 26 Aug 2016 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. UNIVERSITE SORBONNE NOUVELLE – PARIS 3 UFR du Monde Anglophone THESE DE DOCTORAT Discipline : Etudes du monde anglophone AUTEUR Jacqueline Colnel SOCIETE, INFORMATION ET NOUVELLES TECHNOLOGIES : LE CAS DE LA GRANDE-BRETAGNE Thèse dirigée par Monsieur Jean-Claude SERGEANT Soutenue le 14 février 2009 JURY : Mme Renée Dickason M. Michel Lemosse M. Michaël Palmer 1 REMERCIEMENTS Je remercie vivement Monsieur le Professeur Jean-Claude SERGEANT, mon directeur de thèse, qui a accepté de diriger mes recherches, m’a guidée et m’a prodigué ses précieux conseils avec bienveillance tout au long de ces années avec beaucoup de disponibilité. Mes remerciements vont aussi à ma famille et à mes amis qui m’ont beaucoup soutenue pendant cettre entreprise.
    [Show full text]
  • Master Service Agreement Service Definitions
    Pen Telecom - Service Definitions and Schedules SIP Service Schedule V1.0C Pen Telecom is required by Ofcom to communicate the ‘SIP Service’ – shall be the name under which Pen Telecom following advisory statements to all telecommunications provides its SIP voice products. service customers: ‘SIP’ – shall mean session internet protocol. i. If the broadband Connection that Pen Telecom ‘SIP Licence’ – shall mean the product under which Pen Telecom service depends on fails, the voice service will also sells the ability to make SIP calls, the licence shall contain fail. Channels and DDIs and be available at one per IP Address. ii. If there is a power cut or failure in the connected ‘Spoofed’ – shall mean the ability to present a number that telephone system, any associated broadband is not currently hosted on the Pen Telecom network. connection and voice service may also fail ‘VoIP’ – shall mean Voice over Internet Protocol. iii. Broadband connection and power supply failures ‘Pen Telecom’ – shall mean Pen Telecom registered in England are caused by reasons outside the control of Pen and Wales with company number 8201447 Telecom Services Description If the broadband connection that a VoIP service depends on fails for any reason, the service cannot be used to make calls to 1.2. Services provided under the “SIP” heading include the emergency services numbers 999 and 112 the following. ‘SIP Licence’ – shall mean the ability to make or receive SIP 1. Definitions calls from a PBX or handset or softphone via an allocated headline 1.1. All terms defined in the MSA (defined below) shall have number and any associated channels or DDIs assigned to that the same meaning in this Service Schedule except headline number.
    [Show full text]
  • Master Services Agreement - Reseller - V2.0 Page 2 of 31
    Page 1 of 31 VOIP-UN LIMITED – MASTER SERVICE AGREEMENT (RESELLER) TERMS AND CONDITIONS V2.0 THE RESELLER'S ATTENTION IS PARTICULARLY DRAWN TO THE PROVISIONS OF CLAUSE 12. 1. INTERPRETATION 1.1 Definitions: The following words shall have the following meanings in these Conditions and the Service Documents: Business Day: a day other than a Saturday, Sunday or public holiday in England, when banks in London are open for business. Charges: the charges payable by the Reseller for the supply of the Services in accordance with clause 10. Commencement Date: has the meaning set out in clause 2.2. Conditions: these terms and conditions as amended from time to time in accordance with clause 16.4. Contract: the contract between Voip Unlimited and the Reseller for the supply of Goods and/or Services in accordance with the terms of the Service Documents. Control: shall be as defined in section 1124 of the Corporation Tax Act 2010, and the expression change of Control shall be construed accordingly. Delivery Location: has the meaning given to it in clause 4.2 End User: a third-party person who may receive from the Reseller, or from Voip Unlimited at the Reseller’s instruction, all or part of the Goods and Services supplied by Voip Unlimited to the Reseller under the Contract. Force Majeure Event means any circumstance not within a party's reasonable control including, without limitation: acts of God, flood, drought, earthquake or other natural disaster; epidemic or pandemic; terrorist attack, civil war, civil commotion or riots, war, threat of or preparation
    [Show full text]