Application Documents (CIF)– The application form and Business Case submitted by the Company in support of an application for funding from the Capability and Innovation Fund

Application Documents (ISS) – The application form and Switching Proposal submitted by the Company in support of an application to participate in the IS Scheme

Business Case – A business case submitted by the Company in support of an application for funding from the Capability and Innovation Fund

Business Current Account (BCA) – An account marketed to businesses rather than individuals, which provides the facility to hold deposits, receive and make payments by cheque and/or debit card, use automated teller machine facilities and make regular payments by direct debit and/or standing order, but does not include an account in which money is held on deposit in a currency other than the official currency of the United Kingdom or an account in which credit funds are held and offset against mortgage debt or a loan (other than an overdraft facility)

Capability and Innovation Fund – The fund to be implemented by BCR to provide funding to eligible businesses to: (i) develop the capability to compete with RBS (and any relevant subsidiaries of RBS) in the provision of banking services to SMEs; and/or (ii) develop and improve the financial products and services which are available to SMEs

Capability and Innovation Fund Agreement – A legally binding agreement on terms satisfactory to BCR

Dowries – The amounts to be paid by BCR to an Applicant Company whose application is successful in respect of any Transferring Target Customer in accordance with the Dowry Calculation Schedule

Dowry Calculation Schedule – The schedule to the  Incentivised Switching Scheme Agreement (as amended by BCR and communicated to the relevant body from time to time), setting out the method for calculation of the amount of Dowries and the procedure for payment of Dowries

Eligible Bodies – An Eligible body is a body that meets the criteria for ISS and/or CIF. The criteria for ISS can be found here and for CIF here.

Funding Amount – Any funds that an Applicant Company, if its application is successful, receives from the Capability and Innovation Fund

Incentivised Switching – The proposal under which eligible bodies would be provided with funds to be used to encourage certain RBS customers to switch from RBS to that eligible body

RBS – The Royal Bank of Scotland Group plc, a public company incorporated in Scotland with registered number 45551 and whose registered office is at 36 St Andrew Square, Edinburgh, Scotland EH2 2YB

SME – A small or medium-sized enterprise, being a business (including incorporated legal entities, sole traders, partnerships, not-for-profit organisations, clubs, charities and societies) that, in respect of any given financial year applying to it, has annual revenues (exclusive of VAT and other turnover-related taxes) not exceeding £25 million

Transferring Target Customers – A Target Customer that closes its Primary Account(s) with RBS and opens a BCA with an Applicant Company

Trust Deed – A trust deed entered into by RBS and BCR in order to establish, amongst other things, the trust in respect to Incentivised Switching

Turnover – The annual aggregate credit turnover with Business Current Accounts held within the Perimeter (excluding (i) any turnover between those accounts of a customer with the same CIN; and (ii) any monies held by a customer on behalf of that customer’s clients or for the benefit of third parties)

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