Coronavirus (COVID-19) DSC Credit Committee Update - 28th April 2020

DSC Credit Committee update from Jayne McGlone, DSC Compliance Manager.

Published on 28 Apr 2020

Dear Customers,

Last week we met with the DSC Credit Committee (DSCCC) and presented several options to support financial pressures within the Industry.

The options presented were well received and recognised as a proactive attempt to support the financial pressures that the industry may face as a result of the COVID-19 pandemic. However, the view of DSCCC was that as there are currently no indications of any customers being in material financial difficulty (based on cash collection during April as well as observations over the last four weeks), no changes would be made to existing processes at this time.

In the event that a customer struggles to pay an invoice or is experiencing financial difficulty, then the issue will be presented to the DSCCC in accordance with the terms of the DSC Credit Policy, and assessed on a case-by-case basis as to what action will be taken.

We continue to monitor the situation daily and have agreed to increase reporting to the DSCCC to give early visibility of any issues. Should the situation change, DSCCC will reconvene before the next scheduled meeting on Monday 18th May.

All appropriate information from scheduled DSCCCs will be published on the Joint Office website within five days of the meeting.

Kind regards,

Jayne McGlone | DSC Compliance Manager

Commercial

jayne.mcglone@xoserve.com | 0121 229 2291

Address: Xoserve Limited, Lansdowne Gate, 65 New Road, Solihull, B91 3DL

Company Website: www.xoserve.com