ANNEX M – GOLD STANDARD TERMS & CONDITIONS
1. EFFECTIVE DATE
THIS REVISION OF THE TERMS AND CONDITIONS IS EFFECTIVE AS OF 18 AUGUST 2016 (“EFFECTIVE DATE”).
2. PURPOSE OF THE GOLD STANDARD
The Gold Standard Foundation (“GSF” or “Gold Standard”) is a standard and certification body that works to ensure every dollar of climate and development funding goes as far as it can. To do this, Gold Standard designs the strongest processes that maximise the impacts of efforts to deliver clean energy and water, responsibly manage land and forests, and transform the lives of the world’s poor. Gold Standard then verifies those outcomes, inspiring greater confidence that drives investment to accomplish even more. With more than 80 NGO supporters and 1100 projects in over 70 countries, Gold Standard programmes (“Projects”) have delivered billions of dollars in climate and development outcomes worldwide.
3. APPLICABILITY OF THESE TERMS AND CONDITIONS
3.1 Purpose. The purpose of these Terms and Conditions is to provide the master agreement between GSF and the person, natural or otherwise, who wishes to use or be involved with the Gold Standard certification standard for Projects or otherwise participate in the Gold Standard marketplace for high quality carbon credits (“User”). Uses may include, but are not limited to:
Participation in the Gold Standard procedure for leading Projects from the application stage to registration and for the labeling, issuance and certification of emissions reduction credits generated from registered Projects (“GS Credits”);
Any use of the Gold Standard Brand; and
Any use of the Gold Standard Registry.
3.2 Acceptance. Acceptance of these Terms and Conditions is a necessary precondition for entering into the Gold Standard project cycle, use of the Gold Standard Registry and any other authorized use of the Gold Standard Brand.
These Terms and Conditions shall be signed by all: Buyers, Project Participants, Project Owners, Project Applicants, Designated Operational Entities or other third party auditors, Brand Users, GS Credit Owners, and Registry Users (“Users”).
Once accepted, these Terms and Conditions represent a binding agreement between GSF and the User.
Any use of the Gold Standard Brand without acceptance of these Terms and Conditions will be prosecuted as a violation of GSF’s intellectual property rights.
3.3 Notice of Acceptance. To accept these Terms and Conditions, send a signed copy to the GSF via mail (The Gold Standard Foundation, 79 Avenue Louis-Casai, 1216 Geneva-Cointrin, Switzerland), Fax (+41 22 788 70 82) or scanned as an email to firstname.lastname@example.org. A signed copy of these Terms and Conditions may also be uploaded to the Gold Standard Registry.
4. ADDITIONAL DOCUMENTS
The following documents are incorporated by reference into these Terms and Conditions:
The Gold Standard Requirements, in the scope and version applicable on the Date of First Submission of the Project to the Gold Standard;
The Gold Standard Toolkit, in the scope and version applicable on the Date of First Submission of the Project to Gold Standard (together, with the Gold Standard Requirements, the “Technical Rules”);
The Gold Standard Annexes and/or Templates;
The Gold Standard Brand and Sponsors Manual; and
5. ROLE OF THE GOLD STANDARD
5.1 Oversight. GSF is a third-party certification standard that provides comprehensive oversight and regulation of Projects.
5.2 Limitations. User expressly acknowledges, agrees and understands that:
GSF is not a party to any agreements between or among Project Participants and/or Buyers;
GSF will not have any liability or obligations under or related to any agreements related to a Project, regardless of its status in the Gold Standard project cycle, or GS Credits;
GSF will not have any liability for any acts or omissions by Users;
GSF has no control over Users;
GSF makes no representations as to the reliability, capability, or qualifications of any Project Participant, Project Owner or Buyer; and
GSF disclaims any and all liability relating to the reliability, capability, or qualifications of any Project Participant, Project Owner or Buyer.
6. CERTIFICATION PROCESS
6.1 Project Specific Acceptance
The pre-registration phase consists of two phases for energy projects: Project Applicant and Listed. There is one phase for Land Use & Forest (“LUF”) projects: Listed. The following steps must be completed during the pre-registration phase:
For Energy Projects:
Written acceptance and submission of these Terms and Conditions by all Project Participants, including the Project Owner and Project Representative;
Listing of the Project in the Gold Standard Registry, including that the account is in good standing, and all related invoices have been paid in full; and
The project complies with the procedures and conditions set forth in the Technical Rules for the pre-registration phase (both for the conventional and the retroactive registration project cycles).
For LUF projects:
The successful completion of the Pre-Feasibility Assessment in accordance with the Requirements;
Written acceptance and submission of these Terms and Conditions by all Project Participants, including the Project Owner; and
Listing of the Project in the Gold Standard Registry, including that the account is in good standing, and all related invoices have been paid in full.
6.2.1 Project Applicant Status for energy projects
A Project Applicant is a project that is in the design phase at all times prior to the submission of the Local Stakeholder Consultation Report to the Gold Standard through the Gold Standard Registry. Project Applicants should accept these Terms and Conditions prior to the:
Submission of the Local Stakeholder Consultation Report if pursuing the regular project cycle, or
The submission of the required documentation for the pre-feasibility assessment if pursuing retroactive registration.
Should the Project Applicant change or should a new Project Participant be added at anytime before registration is completed, then the new party shall send a signed copy of these Terms and Conditions at the time the Cover Letter is submitted for project registration.
6.2.2 Listed Status
A Project and the associated Project Participants are not authorized to use the Gold Standard Trademark until the Project has reached the status of Listed. A Project Applicant will change to the “Listed” status following the approval by Gold Standard of the Project’s Local Stakeholder Consultation Report. The Local Stakeholder Consultation Report must be uploaded to the Gold Standard Registry and should not be emailed directly to Gold Standard. A Project only becomes public once it has obtained “Listed” status.
In addition to the sanctions identified in Paragraph 18, any Project that does not meet the conditions for Project Applicant or Listed status at any time, or does not pass the validation or registration process, is not or will cease to be authorized to claim the relevant status and must be removed from the Gold Standard Registry within 10 days of such notification of rejection.
For energy projects registration occurs after the Project Participant(s) and Project Owner(s) receive written approval from GSF of a Project for the purpose of subsequent verification and certification of the Project’s claimed emission reductions.
For LUF projects, registration occurs after the Project has successfully completed the Initial Certification, as that term is defined in the Requirements, and the Project Participants receive written approval from GSF of a Project for the purpose of subsequent Performance Certification, as that term is defined in the Requirements.
6.3.1 Registration Requirements
A Project is “Registered” when the Project meets the following requirements:
The Project has been successfully audited/validated, by (i) an independent third party auditor and (ii) the Gold Standard Secretariat, as defined in the Technical Rules. Any request for review or revision to the Project will suspend the registration review period until GSF issues a statement that the issue has been satisfactorily addressed or clarified.
The Gold Standard Registry account under which the Project is listed is in good standing, and all Project-related invoices have been paid in full.
The Project commits to the monitoring and verification requirements as defined in the Technical Rules.
6.4 Issuance and Labeling
For energy projects “Issuance” is the process by which Gold Standard Voluntary Emissions Reductions (“GS VERs”) are created in the Gold Standard Registry by GSF.
For LUF projects “Issuance” is the process by which Validated and Verified Gold Standard Voluntary Emissions Reductions (“GS VERs”) are created by GSF and transferred into the project owner’s Gold Standard Registry account. For the purposes of this paragraph 6.4, the terms “Validated” and “Verified” are defined in the Definitions section of the Requirements.
“Labeling” is the process of certifying Certified Emissions Reductions from the Clean Development Mechanism or Emission Reduction Units from Joint Implementation for their sustainable development impacts (“GS CERs or GS ERUs”).
6.4.1 Issuance Requirements
The issuance of GS VERs or the labeling of GS CERs /ERUs Credits is subject to the following requirements:
Compliance with the registration requirements as defined above in Paragraph 6.3.
The Project completes all of the monitoring and verification requirements, as defined in the Technical Rules.
Payment of all fees under the Fixed Cash Per Credit Fee Structure or the Share of Proceeds Fee Structure.
In the case of CERs or ERUs, confirmation of credit issuance by the CDM Executive Board or the relevant JI host country, as the case may be, including the communication of unique serial numbers allowing to track the credits.
The Gold Standard Registry account under which the Project is listed is in good standing, and all Project-related invoices have been paid in full.
In addition to the sanctions identified in Paragraph 18, any Project that fails to meet these conditions at any time will be subject to sanctions, including, but not limited to, freezing future issuances or freezing one or more accounts on the Registry associated with the Project, at the discretion of GSF. GS VERs already issued to the Project, or GS CERs/GS ERUs labeled, prior to loss of the Project’s registration status may continue to claim GSF certification. These credits will continue to appear as Gold Standard-certified in the Gold Standard Registry.
7. THE GOLD STANDARD VALIDATION FUND FOR MICRO-SCALE PROJECTS
GSF offers eligible Micro-Scale Projects the opportunity to participate in the Gold Standard Validation Fund in order to streamline validation costs. GSF has the sole power and authority to manage the Gold Standard Validation Fund in its full discretion. At all times, any assistance from the Gold Standard Validation Fund is subject to the availability of funds. GSF does not at anytime make any guarantees of any kind in connection with the Gold Standard Validation Fund.
8. THE GOLD STANDARD VERIFICATION FUND FOR MICRO-SCALE PROJECTS
GSF offers eligible Micro-Scale Projects the opportunity to participate in the Gold Standard Verification Fund in order to streamline verification costs. GSF has the sole power and authority to manage the Gold Standard Verification Fund in its full discretion. At all times, any assistance from the Gold Standard Verification Fund is subject to the availability of funds. GSF does not at anytime make any guarantees of any kind in connection with the Gold Standard Verification Fund.
9. THE GOLD STANDARD COMPLIANCE RESERVE
The Gold Standard Compliance Reserve (“Compliance Reserve”) is a holding account for GS VERs that is administered by GSF. Its purpose is to ensure the permanence of emissions reductions that have been certified by GSF from land use and forest projects. In the event that the emissions reductions from a Project are reversed, then GSF will promptly retire the equivalent number of GS VERs from the Compliance Reserve. It therefore provides insurance against reversals of GHG reductions from a Project due to certain causes.
User understands and agrees that GSF holds all rights to, ownership of and control over the Compliance Reserve and the GS VERs held in same. Notwithstanding any other terms in this Agreement or the Technical Rules, nothing in this Agreement or the Technical Rules shall give the Project Participant or Project Owner any right to, ownership of or control over the Compliance Reserve or the GS VERs held by the Compliance Reserve at anytime.
9.2 Contribution GS VERs to the Compliance Reserve
Each time GSF issues GS VERs for emissions reductions achieved by a Project, GSF will automatically deduct twenty percent (20%) of the GS VERs to be issued for contribution to the Compliance Reserve (“Reserve Credits”), unless notified in writing by User that eligible substitute credits should be used. In the event that User requests the use of substitute credits, failure by User to promptly transfer such credits to GSF will result in GSF placing the Project on hold until the required number of credits have been properly transferred to GSF for contribution to the Compliance Reserve.
GSF may, from time to time, decrease or increase the required Reserve Credit contribution if GSF determines, in its reasonable discretion (with GSF maintaining the right to determine reasonableness in its sole and absolute discretion) that the contribution percentage of Reserve Credits required is either too high or too low, or otherwise should be modified.
9.3 Retirement of GS VERs from the Compliance Reserve
Pursuant to the Technical Rules, User bears an affirmative responsibility to notify GSF in the event of a reversal of GHG reductions from a Project. Subject to the Requirements, User must notify GSF in the event of a carbon stock shortfall within 30 calendar days of the occurrence of such shortfall. In the event of such a shortfall, GSF reserves the right to pursue one or more of the remedies contemplated in Section 18.
10. THE GOLD STANDARD APPEALS MECHANISM
In the event of any dispute, controversy, or claim by a User against GSF regarding final decisions related to Registration, Issuance or Labelling, the parties involved in the dispute shall, within 6 weeks of the date of the decision or action being disputed, first enter into a mediation for a period of 40 days. In respect of such mediation:
Both parties shall agree within 10 days on the person that will serve as the mediator to be elected from the list of mediators available at GSF;
If within 10 days the parties have not agreed on the appointment of the mediator, the mediator shall be appointed within 15 days by the chair of The Gold Standard Appeals Appointing Committee;
Within 10 days of his/her appointment, the mediator shall organise a session to hear both parties to the dispute, or more sessions if he/she considers it necessary, such session(s) may be attended in person, by conference call or videoconference;
No later than within 20 days of the first session, the parties shall attempt to find a solution to the dispute with the support of the mediator;
If after 40 days of the beginning of the dispute the parties have not reached an agreed solution, any of the parties may within 6 weeks after the expiration of the 40-day period, initiate arbitration proceedings in accordance with Paragraph 10.2 below.
In the event any of the disputes specifically listed in Paragraph 10.1 above is not resolved through mediation in accordance with Paragraph 10.1, such dispute, controversy of claim shall be settled by final and binding arbitration in accordance with the Gold Standard Rules for Appeals (“Appeal Rules”), as in effect on the date of this agreement. The International Bureau of the Permanent Court of Arbitration located at the Peace Palace in The Hague shall serve as registry for the proceedings.
The language to be used in the arbitral proceedings shall be English.
The place of arbitration shall be The Hague, the Netherlands.
10.2.3 Arbitration Fees
The claimant shall upon commencement of the arbitration proceedings deposit an amount in accordance with the Appeals Fee Schedule as an advance to cover arbitration related costs, as further described in the Rules.
11. THE GOLD STANDARD REGISTRY
11.1 Mandatory Use of Registry
All Projects must be recorded on the Gold Standard Registry.
11.2 Registry Accounts
12. THE GOLD STANDARD TRADEMARK POLICY
12.1 Use of the Gold Standard Trademark
Any use of the Gold Standard Trademark described in these Terms and Conditions is a limited, non-exclusive, revocable license to use and display the appropriate logo. The use and display of such marks and logos must be conducted in accordance with the instructions and policies represented in the Brand Rules. This license does not constitute a transfer of ownership rights in such marks, and may be revoked at GSF’s discretion.
12.2 Unauthorized Use of the Gold Standard Trademark
Unauthorized use of the Gold Standard Trademark may result in legal action. To the extent User engages in unauthorized use or reference to the marks and associated logos identified in these Terms and Conditions, GSF, in its sole discretion, may terminate such User’s rights to continue using any or all intellectual property owned by GSF.
13. AUTHORISED USE OF THE GOLD STANDARD BRAND
13.1 Permitted logo use
Gold Standard encourages the use of its logo when linking or accurately referring to its projects, activities and/or events. User may download and use the Gold Standard logo, under the following conditions:
For the promotion of Gold Standard projects, Project Participants are not authorized to use the Gold Standard Logo until projects have reached the status of ´Listed´ (see section 6 for more information on our certification process).
Within the scope of the permitted use, Gold Standard Logos must not be changed or altered in any way. Gold Standard Logos must always be shown consistently and in accordance to the guidelines provided in the Brand Rules and the Brand Manual >>
Upon request from Gold Standard, User must submit a copy of all materials that feature the Gold Standard Logo.
Unless otherwise expressly agreed in writing with the Gold Standard, Gold Standard Logos must not be used for any commercial purposes, including but not limited to trade promotions, point of sale materials, posters, billboards or other trade purposes
User can download the graphic files and user guide from here >>
All reproductions of the Gold Standard logo must respect the current rules for use and the Gold Standard’s corporate identity. Only the most recent version of the Gold Standard logo should be used. More information is located in our Brand Manual >>
13.2 Incorrect logo use
Any unauthorized use of the Gold Standard Brand is prohibited. Unauthorized use includes, but it not limited to, any use that dilutes or damages Gold Standard’s goodwill, places Gold Standard or any of its affiliates in a position of disrepute or causes confusion as to the relationship between User, User’s company and Gold Standard. If Gold Standard considers in its sole discretion that any of its logos are being incorrectly used, User must immediately cease the use of such logo upon request from Gold Standard. Gold Standard reserves the right to pursue any action necessary to protect its rights under the applicable law.
13.3 Using Gold Standard materials
User may use content contained in Gold Standard publications and multimedia products, without modification, for non-commercial purposes, provided User cites the copyright and title. E.g. © Gold Standard/(year), (Title) and link back to our website www.goldstandard.org.
Except as stated otherwise in these Terms & Conditions, User must receive permission from Gold Standard for all other uses of our materials. User should submit such requests to email@example.com
13.4 Linking to the Gold Standard website
Subject to paragraph 13.2, Gold Standard encourages a User who maintains an external website to include hyperlinks to the Gold Standard website on that external site without having to ask prior permission. If User links to the Gold Standard website, User must refrain from creating frames or using other visual altering tools around the Gold Standard website link. Once a link to the Gold Standard website has been created, it should be tested to ensure that it works and meets the above conditions. We would then appreciate being notified via firstname.lastname@example.org.
13.5 Gold Standard logo for authorship and endorsement
Unless otherwise agreed in writing, User may not claim any affiliation with Gold Standard. If User wishes to use the Gold Standard name, logo or other identifying symbol in a way that implies endorsement, partnership or authorship, User must obtain our written permission and agreement on how the name, logo or other identifying symbol will be used. Please send the request to email@example.com. If permission is granted, it is only granted for the specific usage requested; each new use requires a new request.
13.6 Termination of logo usage
Gold Standard reserves the right to request User to immediately stop using the Gold Standard logo if there is a failure to comply with any of these Terms and Conditions or for any other reason. Upon such a request, User shall immediately cease using the Gold Standard logo.
14. PROTECTION OF GSF’S REPUTATION
User acknowledges that GSF has established prestige and good will and is well recognized in the industry and the public, and that in conducting any activities in connection with or related to GSF, User shall ensure that it maintains the high standards and reputation of GSF. User further covenants that it shall not commit any act or omission of a substantial nature that causes or threatens to cause significant and adverse impact to the reputation of GSF and shall duly supervise its officers, directors, employees, agents, representatives and assigns accordingly. User acknowledges that GSF may from time to time amend the Technical Rules or the Brand Rules. User shall comply with such rules and regulations at all times. User shall cooperate reasonably and in good faith with GSF for the purpose of securing and preserving GSF’s rights in and to the Gold Standard Brand.
15. USER REPRESENTATIONS AND WARRANTIES
User represents and warrants that it will provide true, accurate and adequately verified data to GSF, including its officers, directors, employees, agents and assigns. User also represents and warrants that all information and intellectual property submitted by its officers, directors, agents and assigns to the GSF does not violate the rights of third parties.
User will defend, indemnify and hold GSF harmless from all damages and third-party claims, causes of action, or damage arising from any breach of these Terms and Conditions.
17. OWNERSHIP AND LEGAL TITLE
Users applying for Registration confirm that the entity it has exclusive ownership and legal title to the specific Project in question or that the User is authorized to act as a “Project Participant.”
Where applicable, User further acknowledges that GS VERs are created upon their issuance in the Gold Standard Registry. User represents that upon issuance and upon giving any transfer instructions to the Gold Standard Registry, it has the best and most comprehensive legal title (to the fullest extent available under applicable law) to the relevant GS VERs.
Where applicable in the case of the Share of Proceeds Fee Structure, User represents that it has the best and most comprehensive legal title (to the extent available under applicable law) to any GS Credits transferred to GSF. User also warrants that the GS Credits transferred to GSF under the Share of Proceeds Fee Structure are free of any and all legal burdens in that they have not been assigned, transferred, sublicensed, pledged, mortgaged or otherwise encumbered to the detriment of GSF.
18.1 Violations of these Terms and Conditions
In the event User violates these Terms and Conditions, GSF reserves the right to impose one or more of the following sanctions:
A contractual fine as permitted by law for each non-authorized use of the Gold Standard Brand;
A contractual fine of up to CHF 100,000 for each count of providing false information related to Projects or GS Credits;
Partial or complete withdrawal of the User’s right to use the Gold Standard Brand;
Complete withdrawal of right to enter the Gold Standard Registry;
Removal of information from the Gold Standard Registry and/or from the GSF’s website and/or freezing accounts in the Gold Standard Registry;
In severe cases, if reasonable proof of violation is available: Publication of name and circumstances of violation.
As an exception to the above-mentioned sanction of withdrawing the right to use the Gold Standard Brand, certified GS Credits may not be cancelled. However, in the event that certification has been obtained on the basis of intentionally false information or otherwise misleading conduct, GSF has the right to, upon reasonable suspicion, freeze the account in the Gold Standard Registry of the responsible User and demand repayment from the User of such erroneously certified GS Credits with an equivalent volume of GS Credits from another Project.
18.2 Violation of the Technical Rules in LUF activities; Shortfall in Carbon Stocks
In the event User violates the Technical Rules, including circumstances where the User has notified GSF that there will be shortfall in carbon stocks, GSF reserves the right to impose one or more of the following sanctions:
Place the Project on hold or cancel the Project;
require the User to purchase GS VERs from another Gold Standard Project for retirement;
revoke the eligibility of the User to develop additional Gold Standard Projects; or
take any other action that GSF determines is necessary to remedy the violation.
18.3 Reservation of Right to Seek Further Relief
Complying with these sanctions does not release User from further compliance with these Terms and Conditions. GSF reserves its right to assert additional claims for damages and assert any other rights or initiate other actions in order to seek further relief under the applicable law.
19. NO WARRANTY
GSF does not provide any representation or warranty beyond that certified emissions reductions meets GSF’s existing rules, validation and verification procedures. Certification is granted on the basis of information and assessments provided by third parties, as described in the Technical Rules. For avoidance of doubt, GSF does not carry out any validation and/or verification activities other than those defined in the existing rules and regulations. Information and assessments provided by third parties are not verified to an extent exceeding the existing Technical Rules.
GSF does not provide any representation or warranty for information on Project Applications, registered Projects, GS Credits or GS Credit transactions beyond diligent selection of subcontractors and diligent validation and verification according to the existing Technical Rules. Specifically, GSF does not provide any representation or warranty for information and assessments received in good faith from third parties.
To the extent allowed by the applicable law, GSF disclaims all warranties whether express or implied.
20. NO ASSIGNMENT
User may not assign these Terms and Conditions without GSF’s prior written consent, which will not be unreasonably withheld.
21. LIMITATION OF LIABILITY
In no event will GSF be liable for any incidental damages, consequential damages, special damages, punitive, statutory, indirect damages, loss of profits, loss of revenues, or loss of use, even if informed of the possibility of such damages. Our liability in any case for damages arising out of or related to certification services cannot exceed the amount User has paid to us, or the contract price for the specific services, whichever is less. To the extent permitted by applicable law, these limitations and exclusions will apply regardless of whether liability arises from breach of contract, warranty, tort (including negligence), by operation of law, or otherwise.
22. DISPUTE RESOLUTION
In case a dispute arises from a breach of these Terms and Conditions the parties first attempt to resolve the conflict through good faith negotiations. In case no amicable solution can be found within 10 days after the first notification of the conflict is received, either party may choose to commence legal proceedings. The courts at the registered seat of GSF in Switzerland are exclusively competent for such proceedings.
23. CHOICE OF LAW
The laws of Switzerland apply to this Agreement without regard for any choice-of-law rules that might direct the application of the laws of any other jurisdiction.
If any part of these Terms and Conditions is for any reason held to be unenforceable, the rest of it remains fully enforceable.
25. CHANGES TO THESE TERMS AND CONDITIONS
Any changes to these Terms and Conditions must be made in writing. Acceptance of these Terms and Conditions means that the accepting party also accepts within reasonable bounds any later changes made by GSF to these Terms and Conditions. At any one time, the applicable Terms and Conditions are published on the Gold Standard website (www.goldstandard.org.)
26. CONFLICT WITH ADDITIONAL TERMS
Some Users may enter into additional agreements with GSF. In the event of a conflict, the terms of other agreements will govern, followed by these Terms and Conditions.
A person or entity that purchases GS Credits.
The written assurance by the designated operational entity, and the acceptance and approval by GSF, that, during a specified time period, a Project achieved the reductions in anthropogenic emissions by sources of GHG as verified. Carbon credits labeled or issued from a Registered Project are called “Gold Standard-certified.”
27.3 Date of First Submission
For Projects proceeding under the regular project cycle, the date the Local Stakeholder Consultation Report is uploaded to the Gold Standard Registry. For Projects proceeding under the retroactive project cycle, the date that the Pre-Feasibility Assessment is uploaded to the Gold Standard Registry and applicable fee paid.
27.4 Fixed Cash-Per-Credit Fee Structure
The fixed cash registration and issuance fees to be paid for each Project based on the number of credits issued/labeled. Projects currently listed or registered in the Registry using the Fixed Cash-Per-Credit Fee Structure have the option to upgrade to the “Share of Proceeds Fee Structure” at any time by written request to GSF. Any such upgrade is final and irreversible.
27.5 Gold Standard Brand
The “Gold Standard Brand” includes all of the intellectual property of GSF, including the Gold Standard Trademark and Gold Standard Name.
27.6 Gold Standard Name
The “Gold Standard Name” is any symbol containing the words “GOLD STANDARD” used to designate a person or a legal entity.
27.7 Gold Standard Trademark
The “Gold Standard Trademark” is any logo, label or word mark, registered or not, containing the word element “GOLD STANDARD” and being used to certify or otherwise label emissions reduction projects, emissions reduction credits, emissions reduction program, impact credit, impact statement or impact program, as well as any associated goods or services such as trade, financing, consulting, monitoring, technical supervision, quality control, sponsoring, or related activity.
27.8 GS Credit Owner
Any person or entity that is the legal owner of GS credits.
27.9 Micro-Scale Projects
Projects that reduce 10,000 tons of GHG emissions or less per year.
27.10 Project Owner
The legal owner or an authorized representative of the legal owner of a Project that is applying for Registration by GSF or has already been Registered by GSF.
27.11 Project Participant
A person or entity that is involved with the development of a Project.
27.12 Share of Proceeds Fee Structure
For a Project applying under the regular project cycle that has not submitted the complete Local Stakeholder Consultation Report (see Gold Standard Toolkit, Section 2.6 & 2.9) by August 1, 2009, or for a Project applying under the retroactive project cycle that has not submitted the complete documentation required for a pre-feasibility assessment (see Gold Standard Toolkit, Table 2.9) and has not paid the pre-feasibility assessment fee by August 1, 2009, the mandatory transfer and delivery of 2% of all Voluntary Emission Reduction credits issued or 1.5% of all Certified Emissions Reductions credits labeled, or the equivalent substitution of any other Gold Standard VER or CER, respectively, to the Gold Standard Foundation in lieu of the fixed cash registration and issuance fees.
For the purposes of the "Share of Proceeds Fee Structure" (i) all Gold Standard-labeled CERs or ERUs due and owing to GSF shall be delivered to GSF’s account in the national registry of Switzerland ("GS CERs SOP Account"), and (ii) all Gold Standard-issued VERs due and owing to GSF shall be delivered to GSF’s account in the Gold Standard Registry ("GS VERs SOP Account").
IN WITNESS WHEREOF, the User hereby accepts these Terms and Conditions upon checking the box below.