The Department for Business Energy and Industrial Strategy (BEIS), Ofgem and the participating CTSI Consumer Codes have been working together to create an approved model contract that Assignment of Rights (AoR) Investors are strongly encouraged to use.
The AoR Model Contract contains all the provisions we would expect to see in an AoR approved contract. If you choose to use the AoR Model Contract it should be adapted for your business before making the application, but amendments should not be made to the wording of the AoR Model Contract clauses.
Investors who wish to change the content of the model contract are required to contact HIES.
Changes will require sign off from a barrister with a knowledge of consumer law to ensure compliance with the following:
- Consumer Rights Act 2015
- The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013
- Consumer Protection from Unfair Trading Regulations 2008
- HIES Code of Practice and Scheme Rules
- Renewable Heat Incentive Scheme Regulations 2018
AoR Investors are required to seek their own advice as to whether they require FCA approval
More information on the scheme can be found at https://www.ofgem.gov.uk/publications-and-updates/essential-guide-assignment-rights