09 Oct 2016

New LCFS Master Agreement Version 1.1 Available for Use

October 2016 — Leadership for Energy Automated Processing (“LEAP”) is pleased to announce the publication of VERSION 1.1 of the LEAP MASTER AGREEMENT FOR PURCHASING AND SELLING LOW CARBON FUEL STANDARD CREDITS.

The LEAP LCFS Master Agreement provides a clear set of terms and conditions with which parties can document their purchases and sales of Credits under the California Low Carbon Fuel Standard (“LCFS”) Program. LEAP and the LCFS Master Agreement Committee believe that providing these documents will reduce confusion, inefficiency, and risk among parties in the trade of LCFS Credits.

The documents can be downloaded free of charge from the LEAP website at http://www.energyleap.org/document-downloads/.

The new versions were published to:

(1) proactively address the proposed changes by the California Air Resources Board regarding the timeframes for Initiating and Accepting LCFS Credits by directly referring to the regulations for the timeframes of those activities; and

(2) appropriately refer to certain renumbered sections within the California Air Resource Board regulations after their re-adoption in 2015.

The LEAP LCFS Master Agreement was prepared by a Committee comprised of representatives from LEAP member companies and non-member participating companies. The Committee believes that the Agreement represents an unbiased set of terms and conditions that provide legal and operational clarity for the rights and obligations of the buyer and seller of LCFS Credits.

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 www.energyleap.org.

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.