Reconciliation of standard monthly payments

On this page:

About the reconciliation process
Benefits of the new process
Guidance
For more information

About the reconciliation process

Our agreement with The Law Society in Apr 08 included a new protocol for the reconciliation of Standard Monthly Payments (SMP). This was designed to minimise changes to these payments.

The reconciliation process puts into place the protocol set out in the Deed of Settlement.

Benefits of the new process

These include:

more notice of any change in the level of payments
we’ll no longer be looking to balance a contract at a fixed point of time in the future - we will not be projecting claims forward but will simply look at an actual balance
fewer interventions in the way the contract is operating providing a smoother cashflow for providers.

Guidance

See the guidance document in the documents panel for full details about how the process will work. It contains worked examples and a list of frequently asked questions.

For more information

See Documents for full details and guidance. Please contact your account manager at your local regional office with any questions.

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Last updated: 10 July 2008