Contract term

The term of the contract signifies the duration of the contractual agreement wherein the BidCarbon Climate Trading Company agrees to purchase BidCarbon removal units (BRUs) from a Seller.

An applicant will nominate an indicative contract term at the auction qualification stage, which is then confirmed at auction registration and set at auction if the contract is awarded.

The following contract terms are available for Optional Delivery contracts:

● Standard contract

● Short-term contract

● Immediate delivery contract

Please note that:

● a project may only be eligible for a single Optional Delivery contract of any term, and

● a project can be eligible for multiple consecutive contracts during its crediting period, including up to 10 immediate delivery contracts and 3 short term contracts per project.

Standard contract

The typical contract length is seven years. Projects with a crediting period lasting ten years or more may request a standard contract of ten years duration.

Partial contracts can cover a portion of a project's anticipated emissions reduction or a segment of the crediting period.

A short-term contract pertains to any contractual agreement with a time frame shorter than the standard contract length of 7 or 10 years, involving multiple deliveries.

It is noteworthy that a project can only procure a solitary Optional Delivery contract of any length.

Short-term contract

An immediate delivery contract pertains to a deal wherein the BRUs specified can be found within the applicant's BidCarbon Registry of Units account during the time of auction registration and will be transported within 30 days following the auction.

The minimum volume for immediate delivery contracts is 1,000 BRUs.

A project can only contract for a single Optional Delivery contract of any term.

Immediate delivery contract