The Autorecbots Never Went Away

We first coined the term “Autorecbots” in 2007 in this post. Since then we have had many, many skirmishes with them including some recent activity.

Their task, the attempted reconciliation of contracts, with resultant reductions in SMP, is obviously of major importance to many firms right now.

One of the many problems firms face is that they may well not even know, let alone remember, that there are underlying rules for these encounters. Heavens knows I’m hazy on the subject.

This is the live version of these, the monthly-payment-protocol. (It came out of a TLS negotiated outcome to a JR action years ago). Currently there are 2 key issues:

  • Wrongly attempting to reconcile contracts within the 90 – 110% band
  • Only implementing the 7.5% pull forward, in your favour, on request, not automatically.

If you are approached to effect a reconciliation you should:

  1. Ask for a copy of the reconciliation spreadsheet (this will arrive quite quickly)
  2. Insist on the 7.5% pull forward if you want to minimise an SMP reduction

If you then want to mail the spreadsheet to us and then have a chat please feel free to do so.

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