Delivery Location - Emissions Annex Provision

EU Emissions Allowance Transaction Annex to the 2005 ISDA Commodity Definitions A Jolly Contrarian owner’s manual™ Resources and navigation Index: Click ᐅ to expand: ISDA Emissions TOC EUA Annex - Premium Emissions Pro tip: for tons of information about EU ETS and EU financial services regulation see Michał Głowacki’s magnificent emissions-euets.com website. Emissions trading documentation ISDA: EU Anatomy • EU Wikitext • EU Nutshell (premium) • UK Anatomy • UK Wikitext (to be merged into EU Anatomy) IETA: IETA Master Agreement • IETA Wikitext • IETA Nutshell (premium) EFET: EFET Allowances Appendix • EFET Allowances Wikitext • EFET Nutshell (premium) Section Delivery Location in a Nutshell™ Use at your own risk, campers! Delivering Party’s Delivery Business Day Location will be specified in the Confirmation. If for some reason it isn’t, it will be the place specified in the Emissions Annex and, failing that, Seller’s address for notices under the Transaction and, failing that, the Delivering Party’s registered office. Receiving Party’s Delivery Business Day Location will be specified in the Confirmation. If for some reason it isn’t, it will be the place specified in the Emissions Annex and, failing that, Buyer’s address for notices under the Transaction and, failing that, the Receiving Party’s registered office. view template Full text of Section Delivery Location Delivering Party’s Delivery Business Day Location: Means, in respect of an EU Emissions Allowance Transaction, the place specified as such in the Confirmation for the relevant EU Emissions Allowance Transaction or, if a place is not so specified: (i) the place specified in the Annex to this Part [7] as the Delivery Business Day Location for Delivering Party; or (ii) if no such place is specified, the place in which Seller’s address for purposes of receiving notices connected with the relevant EU Emissions Allowance Transaction is located; or (iii) if no such address has been given, the place in which Delivering Party has its registered office. Receiving Party’s Delivery Business Day Location: Means, in respect of an EU Emissions Allowance Transaction, the place specified as such in the Confirmation for the relevant EU Emissions Allowance Transaction or, if a place is not so specified: (i) the place specified in the Annex to this Part as the Delivery Business Day Location for Receiving Party; or (ii) if no such place is specified, the place in which Receiving Party’s address for purposes of receiving notices connected with the relevant EU Emissions Allowance Transaction is located; or (iii) if no such address has been given, the place in which Receiving Party has its registered office. view template Comparison See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Content and comparisons

Not the sort of verbiage that could be helped by comparison. It would only offend the draftsperson whose innocent text you are comparing it with.

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Summary

To be clear at the outset: There is no actual term “Delivery Location” — to designate a place whence and whither an EUA is delivered — in the Emissions Annex. But there should be, and to make things easier for you, we are going to just carry on as if there were.

The actual terms that cover this idea — yes; plural — are “Delivering Party’s Delivery Business Day Location” and/or “Receiving Party’s Delivery Business Day Location” as the case may be.

From the “So, you think you have lost the will to live? Hold my beer” file, firstly who in their right mind, when form,ulating a snappy way of saying Delivery Location, comes up with two separate defined terms each of whicht is six words long?

Secondly, the defined terms are only used once each, ostensibly to “simplify” the concept of “Delivery Business Day”, which itself is barely in need of simplification, meaning as it does:

Delivery Business Day means a business day in both parties’ specified delivery location.

All we are talking about here is ensuring it is a business day in the place whence and whither an EUA is delivered.

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See also

• Go ahead and shoot me already

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