Indexed REC-47: How should we set up the Standing Order between Seller and Buyer for the automatic transfer of RECs?

The Standing Order is an agreed upon schedule registered with PJM-EIS GATS or M-RETS for the automatic transfer of RECs issued for the Project to Buyer’s PJM-EIS GATS or M-RETS account on a recurring basis in accordance with Section 2.3 of the Indexed REC Contract. The Standing Order shall reflect Buyer’s allocated share of the RFP Awarded Annual Quantity (calculated by dividing the Annual Quantity by the RFP Awarded Annual Quantity as defined in the Indexed REC Contract). The Standing Order may also feature other limits placed on the transfer of RECs, such as the Acceptable Vintage Period.  Both Buyer and Seller shall work together to establish the irrevocable Standing Order in PJM-EIS GATS or M-RETS and update the Standing Order as necessary. Please contact PJM-EIS GATS or M-RETS directly for additional information on the functionality of the applicable system. In the event Excess RECs have been delivered to Buyer, Section 2.3(f) of the Indexed REC Contract provides a process for such RECs to be returned to Seller.