West of England is changing its calling basis so that, rather than charging its estimated total mutual call (ETC) as an advance call plus an additional call, the ETC will be charged simply as a total mutual call.
West of England said that the change had been made to simplify terminology and to make the Club’s calling method more readily understandable. There would be no change to the amounts payable.
Rates will be adjusted for policy year 2018 as normal during renewal.
Whereas previously rates represented an advance call (100%) plus a forecast additional call (35% of the advance call), the two are now being combined. Therefore the rates will reflect 100% of the ETC.
To do this the Club will convert from policy year 2017’s 100% + 35% = 135% into 100% for policy year 2018.
West of England pointed out that, although “135% becomes 100%” there would be no change to the actual total amount charged. Unless agreed otherwise, calls are payable in five equal instalments, each being one-fifth (20%) of the ETC.
Four instalments will be due during the policy year with the fifth in August the following year,
Instalment 1 March 20th
Instalment 2 June 20th
Instalment 3 September 20th
Instalment 4 December 20th
Instalment 5 August 20th following year.
West of England noted that many Members already paid the full ETC in four instalments during the policy year, and said that this would continue.