Terms and conditions

Agreement for the purchase and retirement of European Union Emissions Allowances (EUAs)

1 Parties

1.1 This Agreement is made between you the customer (you) and Ebico Limited, a company registered in the UK with number 03507095 and having its registered offices at Wittas House Two Rivers, Station Lane, Witney, Oxfordshire OX28 4BL (we/us).

2 Purpose of this Agreement

2.1 This Agreement sets out the conditions of your contract with us. Under this Agreement we will perform a service for you whereby you will pay us to buy EUAs from other Account Holders and retire them from the market so that they can no longer be traded.

2.2 Please read these terms and conditions carefully to ensure that you fully understand your commitment and our obligations.

3 Definitions

3.1 The terms set out below have the following meanings in this Agreement:

Account means an account of an Account Holder for the purposes of holding EUAs, more particularly described in the EU Emissions Trading Scheme UK Registry Terms and Conditions, and "our Account" shall be construed accordingly.
Account Holder has the meaning given to it in the EU Emissions Trading Scheme UK Registry Terms and Conditions.
Agreement means this agreement for the purchase and retirement of EUAs.
Amount of CO2 to Offset means the volume of Carbon Dioxide (in Tonnes) specified by you on our website.
Base Price means the price of an EUA quoted by Point Carbon (or any other broker or supplier chosen at our discretion) in Euros per Tonne converted to pounds sterling at the conversion rate quoted by Moneyextra, both at the date of this Agreement.
Environment Agency means the Environment Agency of the United Kingdom EUA (or EUAs) has the meaning given in Directive 2003/87/EC of the European Union.
Fee means the relevant fee (in pounds sterling) from time to time, listed on our website, which corresponds to your choice of Amount of CO2 to Offset.
our website means our website at www.ebico.co.uk (or other website address that we may notify you of from time to time).
Purchase means a purchase of EUAs pursuant to this Agreement.
Purchase Date has the meaning given in Condition 8.2.
Quantity has the meaning given in Condition 8.2.
Register means the register more particularly described in the EU Emissions Trading Scheme UK Registry Terms and Conditions.
Registry Terms and Conditions means the Environment Agency’s published EU Emissions Trading Scheme UK Registry Terms and Conditions.
retire means either:
(a) the deletion of EUAs; or
(b) refraining from transferring or requesting to transfer EUAs,
under the EU Emissions Trading Scheme UK Registry Terms and Conditions.

4 Cooling-off period

4.1 This Agreement becomes effective after, having received your completed details via our website, we notify you of our acceptance.

4.2 You may by completing the cancellation instruction on the website (or by otherwise notifying us) unconditionally cancel this Agreement within seven (7) working days after it has become effective. You do not need to give us any reason for cancelling this Agreement, and you will not have to pay any penalty. The effect of the cancellation is that this Agreement will be treated as if it had not been made.

5 Your obligations

5.1 You shall:

(a) provide us with your basic contact details in accordance with Condition 5.2;

(b) select and notify us, via our website, of your Amount of CO2 to Offset; and

5.2 You agree to provide truthful and accurate contact details (including, without limitation, your name, telephone number, postal address and e-mail address), and you must notify us of any change to those details as soon as possible after the occurrence of the change.

6 Payment

You shall pay us the Fee on the date of this Agreement using any of the payment methods specified for this purpose on our website..

7 Our obligations

7.1 Subject to you first carrying out your obligations under Condition 5 we shall: (a) purchase EUAs in accordance with Condition 8; and (b) retire EUAs in accordance with Condition 9.

8 Purchase of EUAs

8.1 We confirm that we are registered with the Environment Agency as a Account Holder of EUAs.

8.2 Where you have paid the Fee to us we shall, within 90 days, make the Purchase (being the Purchase Date).

8.3 Subject to Condition 8.5, the quantity of EUAs we shall Purchase shall be equivalent to the Amount of CO2 to Offset.(Quantity).

8.4 Under the EU Emissions Trading Scheme UK Registry Terms and Conditions, only complete EUAs (and not partial EUAs) may be bought, sold and transferred between Account Holders. As your Fee may not allow us to purchase a complete EUA or a complete number of EUAs, we will aggregate a proportion of your Fee with a proportion of all of our other customers’ Fees. This will allow us to make a bulk purchase of EUAs.

8.5 If on the Purchase Date the price we have agreed (with our supplier or suppliers) to Purchase EUAs is more than thirty per cent (30%):

(a) above the Base Price, then we may reduce the Quantity by a percentage equal to the number of those percentage points above the Base Price; or

(b) below the Base Price, then we shall increase the Quantity by a percentage equal to the number of those percentage points below the Base Price.

8.6 Notwithstanding any other condition in this Agreement, all EUAs purchased pursuant to this Agreement will be purchased in our own name and not on your behalf or as your agent, and legal and beneficial ownership and all rights, title to and interest in the EUAs shall remain with us to the fullest extent permitted by law.

9 Retirement of EUAs

9.1 We promise to retire all EUAs that we Purchase.

9.2 On your request, we shall provide evidence to you of our compliance with Condition 9.1, by making available on our website either a copy of:

(a) the Environment Agency's confirmation of the deletion of the EUAs we have Purchased; or

(b) in the absence of the confirmation in Condition 9.2(a), our statement of EUA holdings in our Account.

10 Liability

10.1 Save as precluded by law, we will not be liable to you for any indirect or consequential loss, damage or expenses (including loss of profits, business or goodwill) howsoever arising out of any problem you notify to us under this Agreement or for any breach by us of this Agreement and we shall have no liability to pay any money to you by way of compensation other than to refund your Fee to you.

10.2 Nothing in this Agreement is intended to limit any rights you might have as a consumer under applicable local law or other statutory rights that may not be excluded nor in any way to exclude or limit our liability to you for any death or personal injury resulting from our negligence.

11 Ending this Agreement

11.1 If for any reason our Account, or access to our Account or our registration with the Environment Agency is suspended:

(a) for the duration of such suspension, our obligations under Conditions 7, 8 and 9 shall be suspended; and

(b) we may terminate this Agreement immediately by giving written notice to you.

11.2 If:

(a) you are in breach of Conditions 6

(b) for any reason our registration with the Environment Agency is cancelled,

this Agreement shall automatically terminate, and in the case of Condition 11.2(b), we shall give you notice of this.

11.3 If this Agreement is terminated under Condition 11.1 or 11.2(b), we will pay back to you any money which you have paid to us which has not been used to Purchase EUAs. We may first take off any money that you owe us under either this Agreement or any other Agreement between us.

11.4 You may end this Agreement immediately by giving us written notice. Subject to the other terms and conditions of this Agreement, we will continue to perform our obligations under Condition 7, 8 and 9 in respect of any Fee you have made to us prior to such termination.

12 Notices

12.1 Our address for correspondence is:

EBICO Limited
PO Box 354
Witney
Oxfordshire
OX29 7WN

Email:

12.2 Your address for correspondence shall be the postal address or e-mail address you provide to us under Condition 5.1(a).

12.3 Unless otherwise stated, all notifications to you under this Agreement, may be made by contacting you at any of the details you gave under Condition 5.1(a) or via our website. Written notice may be given by e-mail.

13 Miscellaneous

13.1 We reserve the right to amend the terms and conditions in this Agreement at any time, and the current version will be that published on our website. You may terminate this Agreement by notice to us if you do not wish to be bound by the new terms and conditions.

13.2 References to this Agreement or any other document shall be construed as references to this Agreement or that other document, as amended, varied, novated supplemented or replaced from time to time.

13.3 You may not assign any of your rights under this Agreement to any other person without our written consent. We may assign all or any part of this Agreement to any other person or persons.

13.4 It is not intended that any term of this Agreement will be enforceable by virtue of the Agreements (Rights of Third Parties) Act 1999 by any person that is not party to it.

13.5 If any part of this Agreement is disallowed or held to be ineffective by any court or other competent body, the rest of this Agreement will not be affected.

13.6 If at any time we do not require you to comply with any part of this Agreement, this will not prevent us from doing so in the future.

13.7 Sometimes we may be unable to do what we have agreed to do because of an event beyond our reasonable control. This may include (but not be limited to) a breakdown of or failure in or access to the EUA trading mechanism or systems our Account or the Register. In such cases we are not responsible for what has happened and the performance of the obligation that is being prevented shall be suspended. However we will inform you when this is the case. If we are unable to make a Purchase of EUAs, we will refund your payment upon your written request and this Agreement with terminate.

13.8 This Agreement is governed by the laws of England and is subject to the jurisdiction of the English courts.