When comparing water quotes for your business, you will want to ensure that the quotes you receive are accurate and suitable for your business and its needs.
Unlike domestic water tariffs, business water contracts have no cooling off period. This means that, once you’ve signed up for your new contract, there’s no turning back. That’s why it’s so important for you to make informed decisions that will lead you to the right choice for you.
Before you even start to research new contracts and options, it is important to gather all of the information necessary for those to give you the best results. To ensure that you get the most relevant results when comparing water tariffs, there are a number of things you should know and, and have steady access to when you may be asked by those searching for deals on your behalf. This includes…
• Your supply point ID (SPID) for your water meters. Your Supply Point ID is a 13 digit number that can usually be found on your water bill. It is used by companies to let the retailer know where your access to water is and the details of your individual business’s needs. If you cannot find it on your bill, you can contact your water supplier and get this by providing the address that you are supplying.
• An estimate for your yearly water and sewage usage. This should be included in your renewal letter (if you receive one). Companies ask for this so that they are able to make an assessment on how much water you will use throughout your contract; this means that they can focus on what type of contract may be best fitted for you, whether long term, fixed-rate or variable rate.
• General information about your business for credit checking; This includes your company name, Individual Taxpayer Identification Number (ITIN) – This is usually found on the rental application or consent to background checks forms that you will have completed before entering the property – the business bank account linked to your property alongside payments made to the business credit bureaus. You may also be able to turn in recent credit checks made on your business by the likes of The Dun & Bradstreet or other organisations.
• Location(s) being supplied. If you have more than one property using the same contract, it will be important that all of these locations addresses are listed in full. Without this, one location may go without water and sewage utilities after a switch due to not being listed.
• Previous gas and water bills. This will help to establish any unexpected charges that may have been made and how to avoid them going into your new tariff, as well as a helpful way to find how regularly you were paying your bills; monthly, quarterly, yearly, and if there are any outstanding payments or repayments to be made to you before ending your contract.
• Your current contract end date. This is used to gather information on when you will look to have another contract come in and how a business can work to avoid you going even 24 hours without the crucial supply to your business.
• Your water usage data. You can request this from your supplier at any time.
• A signed letter of authority – this allows us to speak to suppliers on your behalf, and get any missing information and request prices. A Letter of Authority (or LOA) is primarily for brokers to manage your water supply by giving them the rights to take action on your behalf. You can find more information about LOI’s here, to keep you safe in signing such contracts.