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Contract obligations

Suggested Reading Suggested Reading

12 October 2017

To enter into a carbon abatement contract with the Commonwealth is to enter into a commercial arrangement with rights and obligations enforceable through the courts, similar to other contractual arrangements entered into between parties.

Unless otherwise specified, whenever anything is to be done under the contract, the party responsible must use every reasonable endeavour to fulfil their obligations as soon as practicable and within the specified period in the contract.

NumberDescription of obligationBuyerSeller

1

use reasonable endeavours to fulfil conditions precedent as soon as possible (Clause 2.1.2 Code of Common Terms)

-

Tick to indicate yes

2

notify of fulfilment or waiver of any Column B conditions precedent (Clause 2.2.2, Code of Common Terms)

-

Tick to indicate yes

3

deliver units in accordance with the Delivery Schedule(Clause 4.1.1, Code of Common Terms)

-

Tick to indicate yes

4

make reasonable endeavours to agree on a revised Delivery Schedule following Affected Schedule Delivery Date, Delivery Failure or Force Majeure(Clauses 4.1.2, 9.3.3.b and 9.4.2, Code of Common Terms)

-

Tick to indicate yes

5

maintain seller’s ANREU Account (Clause 4.2.1, Code of Common Terms)

-

Tick to indicate yes

6

send the Clean Energy Regulator an invoice for each delivery (Clause 4.3.1, Code of Common Terms)

-

Tick to indicate yes

7

pay, on the buyer’s demand, interest on seller’s overdue amounts (Clause 6.1.1, Code of Common Terms)

-

Tick to indicate yes

8

notify changes of addresses and contact details, maintain all Required Authorisations (consents, licences etc), comply with all relevant laws under the contract, and inform of potential impact to the seller’s ability to perform any of its obligations under the contract (Clause 8.1.1, Code of Common Terms)

Tick to indicate yes

Tick to indicate yes

9

give detailed notice to the Clean Energy Regulator as soon as the seller is aware that a Delivery Failure has occurred or is likely to occur (Clause 9.3.2, Code of Common Terms)

-

Tick to indicate yes

10

notify the Clean Energy Regulator of a Force Majeure affecting the seller and use all reasonable endeavours to overcome any Force Majeure(Clauses 9.4.1 and 9.4.2, Code of Common Terms)

-

Tick to indicate yes

11

pay Buyer's Market Damages within 20 days of receiving valid notice from the Clean Energy Regulator (Clauses 9.3.6 and 9.6.2, Code of Common Terms)

-

Tick to indicate yes

12

require person to whom the seller discloses Unit Price to acknowledge and comply with similar confidentiality obligations as contained in the contract (Clauses 11.1.1.e and 11.1.1.f, Code of Common Terms)

-

Tick to indicate yes

13

follow the contract dispute resolution process once initiated (Clause 12.1.1, Code of Common Terms)

-

Tick to indicate yes

14

not assign or novate the contract without Clean Energy Regulator’s consent except when providing security to an authorised deposit taking institution (Clause 14.3.1, Code of Common Terms)

-

Tick to indicate yes

15

cooperate with the Clean Energy Regulator in relation to an FOI request (Clause 15.1.2, Code of Common Terms)

-

Tick to indicate yes

16

not misrepresent relationship with the buyer, or engage in any misleading or deceptive conduct in relation to the contract (Clause 16.1.2, Code of Common Terms)

-

Tick to indicate yes

17

pay GST where applicable to the contract (Clause 16.3.3, Code of Common Terms)

-

Tick to indicate yes

18

pay interest following a court judgement (Clause 6.2.1, Code of Common Terms)

Tick to indicate yes

Tick to indicate yes

19

not disclose the Unit Price except to specified persons (Clause 11.1.1, Code of Common Terms)

Tick to indicate yes

Tick to indicate yes

20

notify of fulfilment or waiver of any Column A or C conditions precedent (Clauses 2.2.1 and 2.2.3, Code of Common Terms)

Tick to indicate yes

-

21

accept deliveries made in accordance with the contract (including early deliveries within the same financial year, where given not less than 5 business days’ notice with the option to extend the date for advance delivery by up to 15 business days, and also including early deliveries from a later financial year, where given not less than 20 business days’ notice and such early delivery is accepted by the Clean Energy Regulator) (Clauses 4.1.3 and 5.1.1, Code of Common Terms)

Tick to indicate yes

.

22

maintain an ANREU delivery account (Clause 5.3.1, Code of Common Terms)

Tick to indicate yes

.

23

pay for (by the Payment Due Date) ACCUs which are delivered and invoiced in accordance with the contract, by electronic transfer (Clause 5.2.1, Code of Common Terms)

Tick to indicate yes

-

24

pay by electronic funds transfer into the seller’s nominated bank account (Clause 5.2.2, Code of Common Terms)

Tick to indicate yes

-

25

pay, on the seller’s demand, interest on buyer’s overdue amounts (Clause 6.1.1, Code of Common Terms)

Tick to indicate yes

-

26

keep the other party informed of all changes of addresses and other contact details as required under the contract (Clause 8.1.1.a, Code of Common Terms)

Tick to indicate yes

Tick to indicate yes

27

make reasonable endeavours to agree on a revised Delivery Schedule following Affected Schedule Delivery Date, Delivery Failure or Force Majeure(Clauses 9.3.3.b and 9.4.2, Code of Common Terms)

Tick to indicate yes

-

28

pay Seller's Market Damages within 20 days of receiving valid notice from the seller (Clause 9.6.2, Code of Common Terms)

Tick to indicate yes

-

29

follow the contract dispute resolution process once initiated (Clause 12.1.1, Code of Common Terms)

Tick to indicate yes

-

30

not assign or novate the contract without seller’s consent except to the Commonwealth or to another agency or entity acting on behalf of the Commonwealth (Clause 14.3.1, Code of Common Terms)

Tick to indicate yes

-

31

not misrepresent relationship with the seller, or engage in any misleading or deceptive conduct in relation to the contract (Clause 16.1.2, Code of Common Terms)

Tick to indicate yes

-

32

pay GST where applicable to the contract (Clause 16.3.3, Code of Common Terms)

Tick to indicate yes

-


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