APPLICABLE FOR ALL STCs & VEECs

1. Defined Terms:

“GBET” means GB Environmental Trading Pty Ltd (ACN: 604 328 734)

“Assignment Form” means the assignment by the System Owner to GBET of the right to create STCs and/or VEECs in respect of the System installed by the Installer;

“Installer” means the person/company/entity that installs the System at the premises of the System Owner;

“Installer Agreement” means the separate agreement that an installer of Systems executes with GBET for the creation and payment of STCs by GBET and/or VEECs by GBET;

“Our” means GBET;

“Regulator” means the Clean Energy Regulator in respect of the RET and/or the Victorian Essential Services Commission in respect of the VEET;

“RET” means the renewable energy target under the Renewable Energy (Electricity) Act 2000 and associated regulations;

“STCs” means small-scale technology certificates under the Renewable Energy (Electricity) Act 2000 (Cth) and associated regulations;

“System” means an eligible small-scale renewable energy system under the RET or an eligible installation under the VEET;

“System Owner” means the person/company/entity that is the owner of the System installed (or to be installed) by the Installer wishing to assign (or has assigned) their STCs and/or VEECs to GBT or the Installer;

“Us” means GBET;

“VEECs” means Victorian Energy Efficiency Certificates for eligible installations under the VEET; “VEET” means the Victorian Energy Efficiency Target under the Victorian Energy Efficiency Target Act 2007 (Vic); “You” means the customer of GB Environmental Trading Pty Ltd (GBT) whether you are an Installer or System Owner;

"Recipient" means GB Environmental Trading Pty Ltd (GBT)

"Supplier" means System Owner / Customer of GB Environmental Trading Pty Ltd (GBET)

“REC” means Renewable Energy Certificate

“SWH” means Solar Water Heaters

“SGU” means Small Generation Unit(s)

“LGC” means Large-scale Generation Certificate

2. Inconsistencies/Precedence

If you are an Installer and/or System Owner, you represent and warrant that your Installer Agreement and Assignment Form with GBET take precedence over these terms and conditions.

3. Core Terms and Conditions Acknowledgments, Representations & Warranties: You acknowledge, represent and warrant:

(a) that You have not previously assigned or created any STCs/VEECs for the System within the deeming period, if relevant.

(b) that once STCs/VEECs are uploaded by Us into the registry You cannot withdraw your assignment.

(c) that STCs/VEECs are a commodity like shares and are subject to supply and demand pressures, which may affect the price You receive.

(d) that GBET cannot be held liable for forms that have not been received by Us. If You are faxing Your forms in, please print off a fax communications report at the end of Your transmission to verify the number of pages actually sent.

(e) that You will have to repay the amount of the STC/VEEC payment to GBET should Your Assignment Form be invalid or if GBET is unable to create the STCs/VEECs with the Regulator.

(f) For 6 years beyond the period You have assigned the right to create STCs/VEECs, You must retain proof of your purchase of the System and proof of its installation including the installation date, and make that information available to GBET or to the Regulator on request.

(g) Provide additional audit and other information required by the Regulator within the two-week or other time frame under the RET/VEET if requested by GBET. To satisfy auditing requirements, GBET may be required to make contact with the system owner.

(h) the Installer must not pre date or pre sign any Assignment Forms before the installation has occurred.

(i) GBET has the right to refuse or return any Assignment Forms at any time.

(j) STC/VEEC claims must be received by Us within 11 months of installation to allow GBET processing time. Please contact GBET on the day of submission to ensure Your application has sufficient processing time.

(k) GBET reserves the right to update/amend these terms and conditions and the Installer Agreement at any time. Current terms & conditions are available at www.green-bank.com.au or will be made available upon written request. (l) Your applications must be submitted on Our current form. Please check our website www.green-bank.com.au to ensure You are using the most recent form.

(ei) GBET will issue You an invoice for the re-payment amount. Payment terms will be marked on invoice.

(eii) If You do not repay within Invoice terms GBET can take outstanding amount owed from claims submitted by You.

(eiii) If You do not repay GBET has the right to submit your outstanding debt to GBT preferred Debt Collection Services.

4. Payment Terms Acknowledgments, representations and warranties.

You acknowledge, represent and warrant:

(a) At regular intervals GBET sets the price we are willing to pay for STCs/VEECs and informs our network of installers and other suppliers of that price. For each STC/VEEC GBET are assigned the right to create, GBET will pay the price prevailing at the time we upload the details of your claim into the system.

(b) If GBET needs to verify any information and the price changes by the time the information is received, we will pay the lower price.

(c) For Assignment Forms where GBET is paying the System Owner or other third-party payee, payment for these STCs/VEECs will be made upon approval from the regulator. This policy is in place to prevent issues arising in circumstances where STCs/VEECs have been paid for but cannot be properly created for any reason.

(d) GBT is offering 3-5 day payments and or where possible next business day payment for STCs submitted by account holders using Formtrack, our online STC management system. For all paper submissions with complete true and correct forms GBET is offering 3-5 day payments. Forms that have missing information, incomplete or non-compliant with the current regulations may /will incur a delay in payment.

(e) A 3-5 business day payment turnaround time frame for VEECs is applicable for complete and correct forms. Forms that have missing information, incomplete or non-compliant with the current regulations may incur a delay in payment.

(f) All VEEC lighting claims will be paid upon approval from the Essential Services Commission.

(g) Account holding options available to customers that regularly trade with GBET and at GBET’s discretion.

(h) All claims that are submitted or verified within the last month of possible creation will be paid upon approval from the Regulator please refer to section 3 item j.

(i) Claims submitted over 30kw will be paid at the discretion of GBT either in full as per normal payment terms, 50% on normal payment terms and 50% upon approval from the Regulator or full payment upon approval from the Regulator.

5. GST Registered Entities & Recipient Created Tax Invoices (RCTI)

(a) The recipient (GBT) and the supplier (System Owner) declare that this agreement applies to supplies to which a tax invoice relates.

(b) In accordance with Australian Tax Office requirements, the recipient can issue tax invoices in respect of these supplies.

(c) The supplier will not issue tax invoices in respect of these supplies.

(d) The supplier acknowledges that it is registered for GST and that it will notify the recipient if it ceases to be registered.

(e) The recipient acknowledges that it is registered for GST and that it will notify the supplier if it ceases to be registered for GST.

(f) Acceptance of this RCTI constitutes acceptance of the terms of this written agreement.

(g) Both parties to this supply agree that they are parties to an RCTI agreement.

(h) The supplier agrees to notify the recipient if the supplier does not wish to accept the proposed agreement within 21 days of acknowledging acceptance of this document.

(i) The recipient will send RCTI to the email addresses provided of both the supplier and the installer or as required.