Delivering Party - 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 Delivering Party in a Nutshell™ Use at your own risk, campers! Delivering Party means, for a Allowance Forward Transaction or a Call the Seller, and for a Put the Buyer. view template Full text of Section Delivering Party Delivering Party: Means, in respect of an EU Emissions Allowance Transaction that is: (1) an Allowance Forward Transaction, the Seller; (2) an Allowance Option Transaction which is a Call, the Seller; or (3) an Allowance Option Transaction which is a Put, the Buyer. 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

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Summary

Dear old ISDA’s crack drafting squad™ have even managed to make a dog’s breakfast of this, by introducing two terms for the same party, depending on its role in the Transaction, and the type of Transaction.

One may be either a Buyer or a Seller; in a Forward, the Buyer always receives and the Seller always delivers.

But for an Option, depending on whether it is a Call or a Put, a Buyer may be a Delivering Party or a Receiving Party.

It all seems a bit much like hard work, doesn’t it. Not helped by the terms being used differently in the IETA Master Agreement and EFET Allowances Appendix.

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See also

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