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Environment - MCIC Biofuels

ENERGY EFFICIENCY CERTIFICATES (TEE) GUARANTEES OF ORIGIN MCIC BIOFUELS
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RULES HOW TO PARTICIPATE HOW TO OPERATE FEES AND SETTLEMENT LIST OF PARTICIPANTS M-CIC LINK

SETTLEMENT OF PAYMENTS

PAYMENT OF COMPLETED TRANSACTIONS

For the purposes of settlement of payments, GME shall determine, for each Market Participant, the net position (debtor or creditor) to GME, on the basis of the amounts, including VAT, where chargeable, related to the invoices issued and received by GME relatively the same billing period (single market session), provided that they meet the following requirements:

  1. the invoice of the Market Participant is received by GME within the time limit set by the CIC Technical Rules n. 04
  2. the invoice of GME is received by the PA and non-PA Market Participant within the time limit set by the CIC Technical Rules n. 04.

Otherwise, GME postpones the offsetting of the amounts, until the receipt of the invoices.
After the end of the market session and within the time limit set in the CIC Technical Rules n. 04, GME shall:

  1. close the claims against the Market Participants, its debtors, using until then the deposit available and paid by them;
  2. reimburse the amounts paid as guarantees and exceeding with respect to purchases made in the session;
  3. settle the payables to the Selling Market Participants provided that the invoice has been received.

The payment to the PA Market Participant net creditor will be made within the business day following the determination of the net position.

The payments will be made by SEPA Credit Transfer with Priority or equivalent procedures.

Payment of fees due for all transactions concluded on the MCIC must be made within the last working day of the month in which the invoice has been issued, to the following bank account held by GME:

Banca Popolare di Sondrio
IBAN IT19 B056 9603 2110 0000 7200 X26
CODICE SWIFT POSOIT22

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