Over and under crediting units

Over and under crediting refers to situations where a participant of the BidCarbon Standard Scheme receives more or less units than they are entitled to. While the Technical Governance Committee endeavours to ensure that all units are allocated accurately, over or under crediting may occur from time to time.

The Technical Governance Committee addresses any instances of over and under crediting by:

● contacting the client, and where required, seeking further information

● assessing the individual circumstances in accordance with the Monitoring, Guiding and Lawsuits Policy, and risk appetite, and

● determining the appropriate action, and if required, work with the client to relinquish, surrender or issue units.

When determining the appropriate action required to correct any instance of over or under crediting, the Technical Governance Committee will take into consideration any suspected or known fraud and non-compliance, and also whether the participant has come forward voluntarily.

The Technical Governance Committee may also use its compliance and legal powers, including audits, and a review of a participant’s fit and proper person status.