Suspension, closure and termination
NCCF can suspend an account with seven working days’ notice, for example for unpaid fees or suspected fraud. You can close your own account with 15 working days’ notice once fees and MCUs are settled.
Suspension
NCCF may suspend an account with 7 working days’ notice if:
- fraud is suspected
- a fee is still unpaid after the Relaxation Period
- MCUs in the account are disputed
- false information or fraudulent documents are found
- unauthorised access or use is suspected
- a dispute between the account holder and NCCF has started
While an account is suspended, retirement, cancellation, transfers and project or methodology requests are disabled. You can still see information about your projects, MCUs and methodologies. NCCF reactivates the account once the required information or action is completed within the time it sets.
Closing your account
You can ask NCCF to close your account with 15 working days’ notice. NCCF closes it when:
- all fees are paid and nothing is owed by either side
- no fraud or erroneous activity is found
- all MCUs in the account have been retired, cancelled or transferred
If the status of the MCUs is not resolved, they are cancelled and their serial numbers published.
Termination
NCCF may terminate an account if required information or action is not provided in time. It may also terminate, with or without 5 working days’ notice, if it is reasonably sure of fraud, a breach of the Terms and Conditions or other criminal activity. On termination, NCCF cancels all MCUs in the account and reviews the use of the holder’s methodologies and the empanelment of the related VVB.
Fees are not refunded, and NCCF owes no compensation for losses during suspension or after termination.
Sources
- Terms and Conditions v1.0, sections 9 and 10.4
