4.4.2019 / Exceptions in invoicing and collaterals during Easter Holidays

Because of the Easter public holidays there will be some exceptions in invoicing during Easter. Invoices for week 13 will be published on April 15th, debited on April 17th and paid on April 23rd. Invoices for week 14 will be published on April 23rd, they will be debited on April 25th and paid on April 26th.

During the period of April 15th to April 28th the collateral demand will be increased due to the longer period of eSett not being able to monitor collaterals. In the collateral formula (m*(V1+V2)*P) is used as an estimate of the forward-looking component. Normally m=3/7 because monitoring does not take place during the weekends. During Easter, this period will be at the most five days. eSett will temporarily change m to 4/7 between April 15th to April 28th.

Please be prepared to have the collateral in place at all times also during the holidays.