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Policies
This policy describes the terms and conditions distributors will use for collection, maintaining and returning customer security deposits while complying with the applicable legislation and codes.
In accordance with the Distribution System Code and Retail Settlement Code it must include:
- a list of all potential types/forms of security accepted;
- a detailed description of how the security is calculated;
- limits on the amount of security required;
- the planned frequency, process and timing of updating security;
- a description of how interest payable to customers is determined;
- criteria customer must meet to have security deposit waived and/or returned;
and
- methods of enforcements where a security deposit is not paid.
Security Deposit Policy
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