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Old 27th June 2012, 18:33   #20
bb21
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5.14.4 Calculation of Refund Value for Season Tickets

A season ticket that has been submitted for a refund will have the value of the ticket(s) that the passenger would have had to purchase for the appropriate period of travel deducted. The refund value is then subject to an administration charge if applicable.

If the appropriate period of travel is one month or longer, the value of the ticket that the passenger would have had to purchase is calculated using the formulae provided in Sections 5.4.4, 5.4.5 and 5.4.6.

If the appropriate period of travel is less than one month, the value of the ticket(s) that the passenger would have had to purchase is calculated using a combination of weekly seasons or Travelcard seasons (if available) and daily returns which together cover the whole period. When calculating the fare due for the odd days not covered by weekly seasons or Travelcard seasons using daily returns, Sundays are ignored unless you explicitly state that you used the ticket on any particular Sunday. The applicable daily fare is the most appropriate return fare without any time restriction, which is usually the Anytime (Day) Return, however sometimes the Off-Peak Return is used if there is no time restriction. For Saturdays, this is usually the (Super) Off-Peak (Day) Return.

Example 1

A passenger submits a SOUTHAMPTON CENTRAL [NLC 5932] - FAREHAM [NLC 5900] Route Southern Only annual season (1076) starting on 03/10/12 for refund on 03/02/13. The ticket he would have had to purchase for this period would have been a SOUTHAMPTON CENTRAL [NLC 5932] - FAREHAM [NLC 5900] Route Southern Only odd-period season valid for 4 months 1 day (416.70). This amount is therefore deducted, giving a refund value of 1076 - 416.70 = 659.30, which is then subject to a 10 administration charge if appropriate.

Example 2

A passenger surrenders a two-monthly Zones 2-4 Travelcard season (185.90) valid from 11/11/12 on 24/11/12 for refund. The tickets he would have had to purchase for this period would have been two weekly Travelcard seasons (14 days). These cost 24.20 each. The refund value is therefore 93 - 24.20 - 24.20 = 44.60.

Example 3

A passenger has a LICHFIELD TRENT VALLEY [NLC 1291] - LONDON TERMINALS [NLC 1072] Route Any Permitted monthly season ticket (873.60) valid from 13/10/12 (Saturday). The ticket is handed in on 05/11/12 (Monday). The passenger therefore has had use of this ticket for a period of 3 weeks 2 days (discounting Sunday 04/11/12 unless the passenger explicitly admits to using it on that day).

The price of an Anytime Return (no Anytime Day Return available for this flow) is 162 and the price of a weekly season is 244.40. Two Anytime Return tickets cost 162 x 2 = 324, more than the weekly season. The extra two days should be covered by one weekly season ticket as it is cheaper.

This period can therefore be covered by four weekly season tickets, yet this would cost 244.40 x 4 = 977.60, which is more than the cost of the monthly ticket. This ticket therefore has no refund value.

Example 4

A YORK [NLC 8263] - LONDON TERMINALS [NLC 1072] Route Any Permitted monthly season ticket (1180.80) starting on 22/11/12 (Thursday) is submitted for refund on 03/12/12 (Monday) in the morning before the passenger has had a chance to use the ticket that day.

There is no weekly season ticket available for this flow. Hence the refund is based on 9 days' usage (discounting Sundays 25/11/12 and 02/12/12 unless the passenger explicitly admits to using it on those days) consisting of 7 Anytime Returns (249 each) and 2 Super Off-Peak Returns (94.10 each, for Saturdays 24/11/12 and 01/12/12).

All together these cost 249 x 7 + 94.10 x 2 = 1931.20, which is more than the monthly season. As a result, it has no refund value.

Example 5

A HATFIELD HERTS [NLC 6070] - LONDON ZONES 1-6 [NLC 0035] Route Any Permitted monthly Travelcard season (325.70) starting on 22/11/12 (Thursday) is submitted for refund on 03/12/12 (Monday) in the morning before the passenger has had a chance to use the ticket that day.

The weekly Travelcard season for this flow costs 84.80, the Anytime Day Travelcard costs 22 and the Super Off-Peak Day Travelcard costs 13 (for Saturday 01/12/12).

A total of one week and three days' use (discounting Sunday 02/12/12 unless the passenger explicitly admits to using it on that day) needs to be deducted, which cost 141.80. This gives a refund value of 325.70 - 141.80 = 183.90.

Example 6

A MANCHESTER STNS [NLC 0438] - LLANDUDNO [NLC 2484] Route Any Permitted monthly season ticket (411.30) starting on 22/11/12 (Thursday) is submitted for refund on 03/12/12 (Monday) in the morning before the passenger has had a chance to use the ticket that day.

The weekly season for this flow costs 107.10 and the Off-Peak Return (which has no time restriction) costs 35.60.

A total of one week and three days' use (discounting Sunday 02/12/12 unless the passenger explicitly admits to using it on that day) needs to be deducted, which cost 213.90. This gives a refund value of 411.30 - 213.90 = 197.40.

Examples 4, 5 and 6 demonstrate that even under similar conditions, some tickets will have refund values whereas others don’t.
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