7.               PAYMENT ARRANGEMENTS

7.1            Payment periods will be monthly for large operators and quarterly for small operators as defined in Section 3 above.  Provisional payments will be made as close to the mid-point of the respective period as possible.  Settlement periods at the end of which the provisional payments made will be reconciled with actual payments due, will be quarterly in all cases. 

 

7.2            Although it is generally the intention to pay the full amounts due on payment dates, the Councils reserve the right to pay a proportion of this.  This may arise, for example, where there is uncertainty in estimating provisional payments due to the late receipt of payments from an operator, or where time is needed to assess by survey the effects of a recent change in service.  A delay in receipt from an operator of the information required to calculate the actual payment may lead to a corresponding delay in the appropriate payment.