Business loss of profits policy statement

You’ll need to submit a loss of business profits claim form which needs the following information:

• Your business details.
• Information about the works (including plans and photographs).
• How it has impacted your business (e.g. traffic restrictions, environmental impact).
• Financial information for the past two years (turnover, profit and loss accounts, VAT returns and registration certificate).

As the claimant, you’ll need to sign the claim form. If a third party is acting on your behalf the form must include their name and your confirmation that they’re acting on your behalf.

If needed, we can offer you further guidance on completing the form and the process. Just call us on 0800 980 8800 or write to

Thames Water
Capital Projects (Loss of Business Claims)
Clearwater Court
Vastern Road
Reading
RG1 8DB

We’ll need all of the requested information to process your claim. If you’ve been in business for less than two years please let us know and provide what information you have – it will not affect your claim.

Loss of business claim form

We’ll conduct an initial assessment and let you and your representative know:

• If we need additional information to conduct this initial assessment.
• If we accept your claim in principle and are moving to Step 3 to assess the amount involved.
• If we reject your claim for loss of business and why.

If we accept your claim in principle, we’ll instruct our loss assessor to analyse the claim in more detail.

If we have all the information we need we aim to complete claim assessments within 3 months of our initial response to you. This timescale depends on numerous factors including the nature and complexity of the claim, the quality of the information provided by you and the proximity of other non-Thames Water related work in the area.

Following this assessment, we may:

• Reject your claim, and explain our reasons why; or
• Accept your claim and make a settlement offer to you.

If we make you a settlement offer, we’ll ask you to accept in writing. Payment will then be made by cheque directly to you as our customer for the amount of compensation due to you. VAT is not payable on compensation payments.

Our customers are usually satisfied with the compensation offer that we make. However, if this isn’t the case, you’re legally entitled to request that your claim is referred to an arbitrator^*4 to resolve the dispute.

Please note that this will result in additional costs such as the arbitrator’s fees and any associated legal costs, which could be considerable. The arbitrator will decide who should pay these costs.

When choosing an arbitrator to use it’s important to consider their CVs together with details of their terms of business, basis of charging, and proposed rules of arbitration.

To do this, we ask that you provide us with the names of three arbitrators together with the details mentioned above.

If you can’t provide these details, please let us know and we’ll contact your proposed arbitrators to ask for this information, copying you in on any correspondence.

Once we receive details of your proposed arbitrators, we will reply within 28 days.

If you prefer we can happily provide you with the names and details of three arbitrators and their details for you to choose.

If we cannot agree on the choice of arbitrator, either of us may ask Ofwat to appoint one.

If you need further information or advice about arbitration, please use these links:

Centre for Effective Dispute Resolution

Chartered Institute of Arbitration