Final Delivery Date - Emissions Annex Provision

From The Jolly Contrarian
Jump to navigation Jump to search
EU Emissions Allowance Transaction Annex to the 2005 ISDA Commodity Definitions

A Jolly Contrarian owner’s manual™

Final Delivery Date in a Nutshell

The JC’s Nutshell summary of this term has moved uptown to the subscription-only ninja tier. For the cost of ½ a weekly 🍺 you can get it here. Sign up at Substack.

Final Delivery Date in all its glory

Final Delivery Date: Means, the date that is the second Delivery Business Day after notice is given under Part (d)(ii)(1) (Failure to Deliver by Delivering Party) requiring Delivering Party to remedy a failure to deliver or, if earlier, the Reconciliation Deadline on or immediately following the relevant Delivery Date.


See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs

Resources and Navigation

Index: Click to expand:

Pro tip: for tons of information about EU ETS and EU financial services regulation see Michał Głowacki’s magnificent website.

Emissions trading documentation
ISDA: EU AnatomyEU Wikitext EU Nutshell (premium) • UK AnatomyUK Wikitext (to be merged into EU Anatomy)
IETA: IETA Master AgreementIETA WikitextIETA Nutshell (premium)
EFET: EFET Allowances AppendixEFET Allowances WikitextEFET Nutshell (premium)





Final Delivery Date is only relevant on a Failure to Deliver — in the ordinary course, the date at the end of the Transaction where the Seller delivers up the EUAs is just a plain old Delivery Date — even ~ sigh ~ if it also is a Delayed Delivery Date. You get the sense the ’squad was having a bit of a crisis of confidence when they put this Annes together, don’t you.

What is the relevance of the Final Delivery Date?

The final delivery date is relevant in the context of a failure to deliver and it is designed to give a window to remedy that failure to deliver before a Reconciliation Deadline. This is designed to fall inside the period in which counterparties which are physical operators and who actually need to surrender the EUAs to offset their actual carbon emissions can still surrender their EUAs and avoid an excess emission penalty under the terms of the EU ETS. So, in a nutshell, your final delivery date is two days after you notified of your Failure to Deliver or, if earlier than that, the Reconciliation Deadline, which is April 30 every year.

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
Template:M premium EUA Annex Final Delivery Date

See also