28 Aug 2015

LEAP New York Harbor Ethanol Barge/Vessel Supplement Now Available For Use

August 2015 — Leadership for Energy Automated Processing (“LEAP”) is pleased to announce the publication of the LEAP New York Harbor FOB Ethanol Barge/Vessel Supplement (“LEAP NYH Ethanol Barge/Vessel Supplement”).  These terms provide clarity on terms and conditions with which parties can document their purchases and sales of ethanol in the important New York Harbor waterborne market, where title is transferred in certain terminals located in New Jersey.  LEAP believes that providing these documents will reduce confusion, inefficiency, and risk among parties in the trading of ethanol in this market.

The LEAP NYH Ethanol Barge/Vessel Supplement was created by a LEAP Committee that represents producers, end-users, and traders of ethanol.  The Supplement is a template of neutral terms for market participants of all types and includes clarity on the right and obligations of the parties pertaining to:

  • Transfer of Renewable Identification Numbers (“RINS”)
  • Volumetric tolerances for delivery
  • Nomination procedures for the Buyer and Seller
  • Delivery of the ethanol
  • Laytime and Demurrage

These documents are provided by LEAP for the free and voluntary use of market participants.

LEAP’s mission is to promote efficient and reliable transaction processing within the energy trading industry. More information about LEAP and how to join, including our Limited Project Participation option, is available at http://www.energyleap.org/about-us/how-to-join/.

Membership in LEAP is open to energy trading, service and association entities on a nondiscriminatory basis. All members must be legal entities, not natural persons.