INS10267 - Steps VAS takes

Other terms and conditions

Other terms and conditions

What to do if numerous Revenue modifications are required

Companies

VAS Advice Folder

Other terms and conditions

Terms and conditions other than those in the R3 model will continue to be proposed by debtors.

These can be modified using the IVA modifications available in the VAS Advice Folder on the Worthing ‘V’ Drive (File ‘ Mods for non R3 IVAs’).

What to do if numerous Revenue modifications are required

As an alternative to numerous Revenue modifications you can simply

• Propose replacing the debtors terms and conditions with the ‘R3 Standard Terms for Individual Voluntary Arrangements 2001’as modified by VAS. To do this use only the modification package contained in the VAS advice folder in the file ‘R3 standard terms &VAS mods’.

Companies

The R3 Conditions do not apply to companies

• for all CVAs and PVAs, use the company modifications in the VAS advice folder ‘CVA Mods’

VAS Advice Folder

This folder available on the Worthing ‘V’ Drive contains guidance on developing issues, including

• modifications exclusively for use when accepting the R3 IVA Standard terms as VAS modified.
• IVA modifications for use where R3 standard terms are not being applied.
• modifications designed to remove other proposed terms and replace them with a VAS amended version of the R3 terms.