Template:M summ EUA Annex Adjustment Event: Difference between revisions
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| {{euaprov|Abandonment of Scheme}} || EU gives up on Emissions Trading || Either party terminates on notice. Repay any prepaid amounts or premia || Walk away (I know, I know, it makes no sense. Don’t @ me folks) | | {{euaprov|Abandonment of Scheme}} || EU gives up on Emissions Trading || Either party terminates on notice. Repay any prepaid amounts or premia || Walk away (I know, I know, it makes no sense. Don’t @ me folks) | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Settlement Disruption Event}} || External {{isdaprov|Force Majeure}} type event prevents settlement. || Settlement suspended. No {{euaprov|Cost of Carry Amount}} payment. If continues for 9 {{euaprov|Delivery Business Day}}s or runs over a {{euaprov| | | {{euaprov|Settlement Disruption Event}} || External {{isdaprov|Force Majeure}} type event prevents settlement. || Settlement suspended. No {{euaprov|Cost of Carry Amount}} payment. If continues for 9 {{euaprov|Delivery Business Day}}s or runs over a {{euaprov|Reconciliation Deadline}} either party can designate {{euaprov|Illegality}}, terminate the trade and either pay the {{euaprov|Close-out Amount}} or cancel and walk away. || Unless you specified {{euaprov|Payment on Termination for Settlement Disruption}}, just walk away. (Don’t @ me). | ||
{{aligntop}} | {{aligntop}} | ||
| {{euaprov|Suspension Event}} || {{Registry}} suspends operating or there is an {{euaprov|Administrator Event}}. || {{euaprov|Receiving Party}} pays {{euaprov|Cost of Carry Amount}}.|| Note: {{euaprov|Suspension Event}}s trump {{euaprov|Settlement Disruption Event}}s. Unless you specified {{euaprov|Payment on Termination for Suspension}}, just walk away. (Don’t @ me). | | {{euaprov|Suspension Event}} || {{Registry}} suspends operating or there is an {{euaprov|Administrator Event}}. || {{euaprov|Receiving Party}} pays {{euaprov|Cost of Carry Amount}}.|| Note: {{euaprov|Suspension Event}}s trump {{euaprov|Settlement Disruption Event}}s. Unless you specified {{euaprov|Payment on Termination for Suspension}}, just walk away. (Don’t @ me). | ||
Revision as of 14:16, 25 January 2023
| Event | What it is | Who does what | Who bears loss |
|---|---|---|---|
| Abandonment of Scheme | EU gives up on Emissions Trading | Either party terminates on notice. Repay any prepaid amounts or premia | Walk away (I know, I know, it makes no sense. Don’t @ me folks) |
| Settlement Disruption Event | External Force Majeure type event prevents settlement. | Settlement suspended. No Cost of Carry Amount payment. If continues for 9 Delivery Business Days or runs over a Reconciliation Deadline either party can designate Illegality, terminate the trade and either pay the Close-out Amount or cancel and walk away. | Unless you specified Payment on Termination for Settlement Disruption, just walk away. (Don’t @ me). |
| Suspension Event | Template:Registry suspends operating or there is an Administrator Event. | Receiving Party pays Cost of Carry Amount. | Note: Suspension Events trump Settlement Disruption Events. Unless you specified Payment on Termination for Suspension, just walk away. (Don’t @ me). |
| Fungibility Event | Phase 3 Allowances not exchangeable for Phase 4 Allowances or no longer fungible. | Dunno but is isn’t a Settlement Disruption Event | You will have to agree this among yourselves. |