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WA State Transit Association 4/18/2023
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WA State Transit Association 4/18/2023
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Last modified
5/12/2023 3:40:00 PM
Creation date
5/12/2023 3:14:44 PM
Metadata
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Template:
Contracts
Contractor's Name
WA State Transit Association
Approval Date
4/18/2023
Council Approval Date
4/12/2023
Department
Transportation Services
Department Project Manager
Melinda Adams
Subject / Project Title
Carbon Credit Aggregation Pool
Tracking Number
0003681
Total Compensation
$0.00
Contract Type
Agreement
Contract Subtype
Professional Services (PSA)
Retention Period
6 Years Then Destroy
Imported from EPIC
No
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EXHIBIT A - Services <br /> <br />A.1. Designation. Participant will execute designations as required by the Regulator (defined below) for <br />WSTA or SRECTrade to provide Services. A form similar to the one included in Exhibit D Designation Forms <br />will be completed for each Participant with a distinct Federal Employer Identification Number (FEIN) on <br />whose behalf Assets (defined below) are being registered and Credits generated by SRECTrade. <br /> <br />A.2a Services – Clean Fuel Assets. WSTA or SRECTrade will provide to Participant certain transaction and <br />management Services as described in this MSA, relating to Participant credits (“Credits”) that may result <br />from Participant’s operation of eligible owned or leased equipment (“Clean Fuel Assets” or “Assets”) <br />pursuant to the California Low Carbon Fuel Standard (“CA LCFS”), Oregon Clean Fuels Program (“OR <br />CFP”), Washington State Clean Fuel Standard (“WA CFS”) or other similar incentive programs that <br />become available. Participant understands and agrees that there is no guarantee of successful creation, <br />transaction, or monetization of Credits. <br /> <br />(a) Fueling Supply Equipment (“FSE”) Registration <br />(i) Register and provide administrative services associated with the registration of Clean Fuel <br />Assets to generate Participant Credits with the California Air Resources Board, the Oregon <br />Department of Environmental Quality, the Washington State Department of Ecology, or other <br />relevant regulatory body (“Regulator”). <br />(b) Manage and Maintain Reporting Requirements <br />(i) Provide management and maintenance services for all reporting requirements deemed <br />mandatory or recommended by the Regulator. <br />(ii) WSTA or SRECTrade and Participant will work together to collect usage and fuel transaction <br />data. Participant will be responsible for all costs associated with making the Assets ready to <br />register and report. <br />(iii) WSTA or SRECTrade will report consumption data to the appropriate tracking registry <br />(“Registry”) for clean fuel assets generating Participant Credits and act as the administrative <br />agent between Participant and Registry. <br />(iv) Participant will be provided with an online account at SRECTrade.com that provides <br />information about Participant Clean Fuel Assets, Credit transaction histories, direct deposit <br />payment details, and other information. <br />(c) Activity in Participant’s Registry Account <br />(i) In the case that WSTA or SRECTrade is providing Services within Participant Registry account(s), <br />Participant agrees to establish and grant access to WSTA or SRECTrade. <br />(ii) WSTA or SRECTrade agree that when operating within Participant Registry Account(s) to limit <br />activity to that necessary to provide Services. <br />(d) Marketing, Sale, and Payment of Credits <br />(i) Once Credits are issued and made available for sale, WSTA or SRECTrade will facilitate all <br />marketing and sales of the Credits (each, a “Transaction”). By agreeing to this term, Participant <br />gives WSTA or SRECTrade permission to execute Credit Transactions at WSTA or SRECTrade’s <br />discretion. WSTA or SRECTrade shall negotiate in good faith and use commercially reasonable <br />efforts to maximize the value of such Transactions. <br />(ii) Following Transaction execution, Participant will be notified of a successful Transaction. <br />(iii) WSTA or SRECTrade will facilitate all settlement, delivery, and payment for all Credit <br />Transactions. <br />(e) Purchase of Renewable Energy Credits <br />(i) WSTA or SRECTrade may be able to purchase Renewable Energy Credits (“RECs”) on behalf of <br />Participant to help lower the CI of Participant’s fuel and increase value paid to Participant. By <br />agreeing to this term, Participant gives WSTA or SRECTrade permission to facilitate the
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