Capitalised terms have the meanings given to below:
Assignment Agreement means an agreement between OSWF and a System Owner, in which the System Owner assigns its rights to create STC’s to OSWF;
CER means The Clean Energy Regulator
Consequential Loss includes any consequential loss, indirect loss, real or anticipated loss of profit, loss of benefit, loss of revenue, loss of business, loss of goodwill, loss of opportunity, loss of savings, loss of reputation, loss of use and/or loss or corruption of data, whether under statute, contract, equity, tort (including negligence), indemnity or otherwise;
Contract Lock-in Price means both parties (OSWF & Seller) agree on a fixed price for STC’s;
GreenDeal website means OSWF’s trading website available at https://www.greendeal.com.au/
Liability means any expense, cost, liability, loss, damage, claim, notice, entitlement, investigation, demand, proceeding or judgment (whether under statute, contract, equity, tort (including negligence), indemnity or otherwise), howsoever arising, whether direct or indirect and/or whether present, unascertained, future or contingent and whether involving a third party or a Party to this contract or otherwise
Live Commercial STC means unregistered commercial STCs for commercial solar installation. The installation building should be used for commercial purpose and a valid ABN number should be provided;
Live Residential STC means unregistered residential STCs;
OSWF means One Stop Warehouse Finance Pty Ltd;
Personnel means, in respect of a Party, any of its employees, consultants, suppliers, subcontractors or agents;
REC Registry is an online system. CER uses REC Registry to generate, manage and audit STCs. Any approved STCs will be recorded as registered STCs and recorded in the REC Registry system;
Registered STC are STCs that are registered in the REC Registry before they have been traded or surrendered. All details and histories would have been recorded in the REC Registry system. Only approved STCs by the REC Registry can be sold in the registered STC market. This is different from live STC trade (unregistered STCs);
Seller means trading retailers;
Settlement Date means the last day of contract ends;
STCs means small-scale technology certificates;
System means equipment which can be installed or removed to enable the creation of STC’s.
System Owner means, in respect of a specific System, the person entitled to create the STC’s associated with the System.
2.1 During the course of this contract, Seller must:
3.1 The Seller acknowledges and agrees that by making the submission, it accepts the price and terms offered by OSWF. The quantity, transfer date and agreed price cannot be altered.
3.2 From time to time, OSWF may offer a fixed rate quote for spot purchases of STCs. This may or may not be for a fixed quantity of STCs. The price may be subject to change based on market conditions. The Seller may seek a Contract Lock-in Price which may be accepted or denied by OSWF.
3.3 If OSWF accepts a Contract Lock-in Price, then by no later than the Settlement Date, Seller must submit sufficient Assignment Agreements to generate the volume of STC’s specified in the Contract Lock-In Price.
3.4 If Seller submits an Assignment Agreement that will generate STC’s in excess of the expected volume specified in the Contract Lock-in Price documentation, the amount paid for the additional STC’s will be the offer price stated on the GreenDeal Website at the time the Assignment Agreement is accepted by OSWF.
4.1 There are no processing fees or upfront fees for trading STCs with OSWF.
4.2 Payments to Sellers are, as agreed by the Parties, made by cash or by way of credit notes which can be used by Sellers towards the purchase of OSW products (Credit Note).
4.3 In the event STC’s are rejected by the CER:
4.4 Where a Seller has chosen to receive a Credit Note and later changes its mind and requests a cash amount equal to the value of the Credit Note, any refund will be solely subject to OSW’s then current cash refund policy which it may determine in its sole discretion.
4.5 Payments and Credit Note issuances shall be made after the STC (including live STCs & Registered STCs) assignments are once passes CER audit within 1-2 business days.
4.6 For all size jobs (less than 100kw), cash payment time depends on CER processing time and will be paid once passes CER audit.
4.7 Payments and Credit Notes will only be made with accurate and correctly rendered invoices and/or trade invoices (where applicable) provided by the Seller.
4.8 Once the payment is issued, a remittance confirmation shall be issued to the Seller.
4.9 For any reason if the Seller decides to terminate this contract earlier than the Settlement Date, an early termination fee will apply and an invoice will be issued by OSWF to the Seller to pay for the shortfall which must be paid by Seller to OSWF within 7 days of the date of the invoice. The early termination sum shall be calculated as: STC volume * Contract unit price + 10% GST
4.10 In the event the Seller fails to submit the entire quantity of STC’s committed in the contract within the agreed period, a fee shall apply and an invoice shall be issued by OSWF to the Seller to pay for the shortfall which must be paid by Seller to OSWF within 7 days of the date of the invoice, calculated as: STC volume * Contract unit price + 10% GST
4.12 If the Seller does not pay any outstanding amounts due by Seller to OSWF / OSW within 14 days of the request for payment, OSWF / OSW may charge interest at % per annum. If OSWF / OSW holds any monies, STC’s or other property, rights or interests on behalf of the Seller or is obliged to make payments to OSWF / OSW, then OSWF / OSW is entitled to utilize, apply or keep these items to satisfy any outstanding amounts due under this contract. This right is additional to the rights created elsewhere in this contract.
5.1 In the event there is a dispute relating to the STC’s, OSWF may withhold the proportion of payment of sums due to the Seller that it disputes in good faith until the dispute has been resolved.
5.2 In the event that OSWF believes on reasonable grounds that the Seller has a contingent liability to OSWF, it may withhold the proportion of payment of sums due to the Seller that would meet that contingent liability. Such sum may be applied in satisfaction of any such liability.
5.3 Upon resolution of any dispute of contingent liability, OSWF will promptly pay the amount due to Seller.