In the UK, a Compulsory Stock Obligation (CSO) is a minimum stock of fuel reserves that must be held by a supplier against shortages or interruptions in supply. The scheme is administered by the Department of Trade and Industry (DTI).
Companies incur an obligation if they are a supplier of a volume of 100,000 tonnes per annum or greater. This obligation is assessed as being a holding of 67.5 days' stock (50 days for the UK).
Famous quotes containing the words obligation, compulsory and/or stock:
“Do not tell me ... of my obligation to put all poor men in good situations. Are they my poor? I tell thee, thou foolish philanthropist, that I grudge the dollar, the dime, the cent, I give to such men as do not belong to me and to whom I do not belong.”
—Ralph Waldo Emerson (1803–1882)
“If a girl’s a stewardess, she might as well forget it after twenty-six. They no longer have compulsory retirement, but the girls get into a rut at that age. A lot of them start showing the rough life they’ve lived.”
—Beryl Simpson, U.S. employment counselor; former airline reservationist. As quoted in Working, book 2, by Studs Terkel (1973)
“I have, thanks to my travels, added to my stock all the superstitions of other countries. I know them all now, and in any critical moment of my life, they all rise up in armed legions for or against me.”
—Sarah Bernhardt (1844–1923)