10. Social Value Credits
10.1
The following SV Credits are payable in the event of that the Contractor fails to deliver the accepted SV Plan:
| Area/ Action of poor performance/non-delivery | Social Value Credit payable |
|---|---|
| Delivery of the SV Offer/SV Plan | £500 for each SV Point not delivered in accordance with the accepted SV Plan |
| SV Plan acceptance process timescales | £[50] weekly charge until SV Plan is accepted in accordance with clause 5 of this Schedule. |
10.2
Where a SV Initiative cannot be part delivered then the full SV Credit is payable. For example:
10.3
The SV Initiative ‘Use of a social enterprise or co-operative in the supply chain (in relation to contract)’ is worth 40 SV Points and cannot be partly delivered therefore failure by the Contractor to deliver this SV Initiative would result in a SV Credit of £20,000 being payable (£500 x 40 SV Points).
10.4
Where a SV Initiative can be partly delivered then the proportionate SV Credit is payable for the estimated SV Points value not delivered. For example:
The SV Initiative ‘Initiative to support VCSE organisation’ is worth 15 SV Points for every 8 hours delivered. Should the Contractor put forward 8 hours as part of their SV Offer and only deliver 4 hours (50%) then this would result in a SV Credit of £3,750 being payable (£500 x 7.5 (50%) SV Points).
10.5
Where SV Initiatives are due to be delivered/completed within 8 weeks of the Contract Period expiring, then the Council reserves the right to retain an estimated value of any potential SV Credits from payments due/ invoices received during this period until the accepted SV Plan is completed.
10.6
The Council will issue an invoice to the Contractor for any SV Credits due which are then payable within 30 days of the date of the invoice.
