Delivery Location - Emissions Annex Provision
|
EU Emissions Allowance Transaction Annex to the 2005 ISDA Commodity Definitions A Jolly Contrarian owner’s manual™
Delivery Location in all its glory
Comparison See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs
Resources and Navigation
|
Overview
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.
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.[1]
All we are talking about here is ensuring it is a business day in the place whence and whither an EUA is delivered.
Premium content
Here the free bit runs out. Subscribers click 👉 here. New readers sign up 👉 here and, for ½ a weekly 🍺 go full ninja about all these juicy topics 👇
|
- The JC’s famous Nutshell™ summary of this clause
See also
References
- ↑ Technically, the Delivering Party’s Delivery Business Day Location and the Receiving Party’s Delivery Business Day Location, but this is really too tiresome for words.