Activity

Description

Performance management

The BidCarbon Climate Trading Company will:

● Monitor the performance of sellers against the contract obligations and key performance indicators.

● Maintain a record of progress against milestones and timeframes.

● Provide regular performance summary reports to stakeholders/senior management.

● Determine if performance requirements have been met and respond to performance issues.

● Implement required procedural and process changes to limit potential for issues to arise again.

Relationship management

The BidCarbon Climate Trading Company is committed to cultivating positive relationships with all participants in the BidCarbon Standard Scheme. Our goal is to collaborate closely with sellers to ensure successful outcomes and the fulfillment of contractual obligations.

Stakeholder management

A critical role for the BidCarbon Climate Trading Company is to establish and maintain open and constructive lines of communication to ensure that stakeholders are kept informed about relevant contract matters and developments in a timely manner.

Contracts are commercial-in-confidence documents which contain confidential and sensitive information. Only authorised personnel will have access to documents and information will be provided on a need-to-know basis. All contracts, documentation and records of correspondence between parties will be managed and maintained in accordance with our record management policy.

Classified information and records management

Any variation of the contract needs to be agreed to in writing by both parties. The BidCarbon Climate Trading Company will ensure that the person agreeing to an amendment on behalf of the seller has the authority to do so.

Contract variation

Delivery and payment

Participants who have a contract with the BidCarbon Climate Trading Company will deliver BRUs according to the delivery schedule in their contract. They will then be paid at the price agreed to at auction and set out in the contract.

The BidCarbon Climate Trading Company will pay invoices within the specified period.

Dispute resolution

During the contract management phase, a disagreement becomes a dispute when it is not possible for the parties to resolve it without resorting to a formal resolution mechanism. All dispute resolution processes will be case managed. The procedure for dispute resolution is detailed in clause 12 of the Code of Common Terms.

Quality assurance review

Periodic reviews of the contract administration function will be conducted. The objective of a quality assurance review is to assess the effectiveness of the way contracts are managed and to identify areas where improvements are required.

Novation and assignment

The contract can be novated or assigned by either party with the prior consent of the other, except in the following cases:

1. When the seller assigns or charges the contract by way of mortgage or charge to an authorised deposit-taking institution.

2. When the buyer novates or assigns its rights to the Affiliates of the BidCarbon Climate Trading Company.

Contract close-out

Contract close-out occurs once all contractual obligations have been met. At the completion of any contractual arrangement, the BidCarbon Climate Trading Company should undertake an evaluation of the overall performance of the contract and of the management of the contract. Such an evaluation should inform the development and management of ongoing or future contracts.

Termination

A contract may be terminated by either the seller or the BidCarbon Climate Trading Company. There are a number of circumstances in which a party may exercise their right to terminate. The decision to issue a termination notice by the BidCarbon Climate Trading Company will only be made in consultation with the BidCarbon Climate Trading Company legal team.