One of the biggest benefits is that having one single contract means substantial savings are made by eliminating the need for multiple contracts between every pair of companies.
It also means that:
Members have access to the TeX Register, a secure database which provides company information for electronic transfers and contact details in the event of any query or issue.
In addition to the above benefits, all members sign up to conforming with the TeX Service legal Agreement thereby ensuring both cash and in-specie transfers will be completed in a timely manner.
TeX membership provides useful communication channels with individual TeX members and the wider TeX membership community.
Specified contact information for each TeX member company provided on the TeX register including BAU and escalation contact points.
Bulletin communications sent by TeX providing information on any relevant technical or legal matters and key updates from the TeX Advisory Councils.
The facility to send bulletin communications through TeX to the wider TeX membership to provide relevant information, updates or notification of any issues.
Where TeX members are unable to resolve transfer issue between themselves, TeX provides an escalation process to assist both members in finding a solution to resolve the issue.
Where there are wider issues with firms, operational, technical or legal matters, these can be escalated to the relevant Advisory Council for consideration. Attendance of the Advisory Council is not mandatory and TeX can raise issues on a member’s behalf, however we do encourage all TeX members to participate where it is relevant or useful for them to do so.