Once projects are approved in NC-RETS, Transferors can create Forward Certificate Transfers by taking the following steps:
- In the Account Dashboard, locate the Recurring Transfers.
- Under the Recurring Transfers module, select on the ‘Create Forward Certificate’ hyperlink as pictured below:
- In the New Forward Certificate Transfer screen, fill out all applicable fields
- Forward Certificate Name: Enter a name for the Transfer. The name will be the account holder's choice.
- Project: Designate Project to source the certificates from.
- Type of Forward Transfer: Designate the radio button for the appropriate type of transfer and then select the specific subaccount from dropdown (Essentially, you are indicated where the certificates will be going):
- Active Subaccount: Intra Account Transfers
- Retirement Subaccount: Intra Account transfers
- Account Holder: For transfers to another Account Holder, select the Account Holder the Certificates will be transferred to
- Percent or Fixed: Designate one of the following:
- A fixed number of Forward Certificates to be transferred each month, or
- The percentage of Certificates that will be transferred each month (you likely need to select 100%)
- Begin and End Vintage: The first vintage (month/year) that the Forward Certificate Transfer will be executed for and the end vintage representing the last transfer in the Forward Certificate Transfer transaction;
- Please note that Forward Transfers will not transfer certificates for vintages that have already been issued. (If you have a 20 year contract you can set up your Forward transfer from 10/2016 – 10/2036). If you do not know what vintage to enter in, reach out to your counterparty so you can discuss the correct vintage. The NCRETS administrator will not have this information.
- Priority: Enter the priority of the Forward Certificate Transfer relative to any other Forward Certificate Transfers, if applicable.
- If you leave the Priority as the defaulted 0, NC-RETS will assign the Priority in the order in which the Forward Transfer was received.
- All or Nothing: Selecting the All or Nothing radio button will only transfer certificates when all the designated certificates are available to be transferred.
- For example, if I designate 100 certificates to transfer each month, but I only generate 99 MWh, the Forward Transfer will not process.
- Partial Fill: Selecting Partial Fill will transfer the certificates that are available, even if there is not enough to fulfill the Forward Transfer.
- For Example, if I designate 100 certificates to transfer each month, but I only generate 99 MWh, the Forward Transfer will process 99 certificates.
4. Select on the [Save] button to create a new Forward Certificate Transfer.
Note: After a new Forward Certificate Transfer is created, it will be in a ’Pending’ status until the Transferee accepts/rejects the terms. Both the Transferor and Transferee will receive an email notification regarding the Forward Certificate Transfer. Contact the Transferee does not accept the Forward Transfer or rejects it.