Template:M summ IETA 5.3

You might struggle to believe it from reading the clause but what happens is this: if DP delivers Allowances in fragrant disregard of the fact that some random has a claim on them, and RP finds out — presumably by means of an angry letter from said random — RP can send DP a notice, calculate its loss (which we suppose would be the market value of any Allowances it has to account to said angry, letter-writing random) and send an invoice. DP has three Banking Days to pay, with interest. Once paid, that’s it, everyone moves on. Though there is an odd caveat that this procedure is without prejudice to any defences DP might have, including ones based on limitation periods — which makes us think IETA’s crack drafting squad™ had some morbid fear of calumnies buried deep in ancient history coming back to bite them.

We think this has its genealogy in the tawdry early history of fraud, carousels and recycling, where there was real doubt about the provenance of EUAs — no great testament to a product that was conceived, designed and engineered top-to-bottom by benign Eurocratic regulation — but for completists we have a bit more analysis and a eye-watering flow chart in the premium section.