Revenue Assurance Terms and Conditions for Electric Vehicle Leasing

1. Overview

Parties Involved:
- Assuree: The company that takes out the Revenue Assurance contract to protect itself from early terminated leases.
- Assuror: ECO ELECTRIC CAR ORGANISATION LIMITED, registered in England, company number 12900204.
Background: The Assuree aims to implement a salary sacrifice scheme to provide leased electric vehicles to employees in partnership with the Assuror for specialist services.
Binding Agreement: By singing the Revenue Assurance contract, both parties agree to adhere strictly to its terms and conditions.

2. Definitions and Key Terms

Applicable Law: Includes all United Kingdom laws, rules, and regulations affecting the services provided under this agreement. Any dispute will be resolved under UK law to avoid doubt.
Change in Law: Refers to any new laws or changes to existing laws and regulations that materially affect the agreement post its date of signing.
Confidential Information: Broadly covers all technical, financial, and operational data deemed proprietary or sensitive.
Contract of Employment: Defines the terms under which employees are employed by the Assuree.
Eligible Reasons: Specific conditions like Redundancy, Resignation, Death, Disablement, or Dismissal that may affect an employee’s ability to continue their employment or the vehicle lease.
Adoption-Related Definitions: Terms such as "Adoption", "Adoption Matching Certificate", and "Adoption Leave" are defined to clarify the benefits applicable to adopting employees.

3. Operational Terms

Vehicle Leasing and Early Termination:
- Early Termination for Eligible Reasons: Allows for the lease termination of vehicles under specific conditions like death or long-term disability of an employee. See contract for full details.
- Reimbursement: Assuror may reimburse the Assuree for termination payments made under the lease, subject to the terms specified and specifically that revenue assurance will only pay a maximum of 50% of the remaining lease cost as a penalty as these are the industry standard terms.
Force Majeure: Neither party is liable for failure to perform their duties under unforeseen extreme circumstances outside of their control.

4. Financial Terms

Fees and Payments:
- Monthly Charges: The Assuree pays a monthly fee of 10% of the cost of the leased vehicles and associated maintenance.
- Adjustments and Invoicing: Regular billing and annual adjustments ensure payments reflect actual costs.
Interest on Late Payments: Unpaid amounts accrue interest at a rate of 5% above the Bank of England’s base rate.

5. Limitations and Exclusions

General Exclusions: Specific scenarios where Assuror is not obliged to make payments, such as exceeding the maximum number of vehicle returns or events triggering early terminations.
Specific Exclusions for Early Termination: Detailed criteria under which early termination claims are not valid, including knowledge of potential resignations or redundancies at the lease's commencement.

6. Termination of Agreement

Assuror's Rights: Can terminate the agreement for non-payment or breach of terms by the Assuree.
Assuree's Rights: May terminate if the Assuror fails to uphold its obligations or becomes insolvent.

7. Confidentiality Obligations

Both parties agree to maintain the confidentiality of all proprietary information, using it solely for performing contractual obligations unless legally required to disclose.

8. Dispute Resolution

Initial Consultation: Parties will first attempt to resolve disputes through consultation.
Adjudication: Disputes may be escalated to adjudication under specified rules if necessary.

9. Jurisdiction

Governed by English law, with exclusive jurisdiction for disputes provided to English courts.

10. Miscellaneous

Notices: Must be written and delivered via specified methods to designated addresses.
Amendments: No changes to the contract are valid unless made in writing and signed by both parties.

11. Agreement Execution

Signature Requirement: Legal representatives of both parties must sign the agreement, witnessed by designated individual