The Environment Exchange Recovered Paper.

The Recovered Paper (RP) marketplace provides the RP sector with a secure and regulated environment for trading the best quality Recovered Paper at the best available prices.

Participants can place anonymous bids and offers over the phone using a market operator, or interactively via the website on t2e’s online trading platform. t2e administers the entire transaction and settlement process, as well as offering dispute resolution services, if required. Participants can access historic, spot and forward-price information at any time by logging into the website or contacting their dedicated market operator.

How it works

For any order, if all the variables (except quantity) match with a counter order, a transaction will occur and a contract will be issued. Where payment terms cover a range, the contract will always specify the mutually acceptable option.

For a Collected Contract, an offer can only trade with a bid if the Collection Facility (specified by the seller) is within the maximum road miles from the Nominated Location (specified by the buyer). For a Delivered Contract bids and offers can only trade at the same Nominated delivery port. Once a transaction takes place, t2e administers the settlement process, keeping both parties informed at all times.

Collected Contracts

Collected Contracts allow buyers and sellers to trade Recovered Paper ex-works throughout the UK.

Fixed criteria: The buyer is responsible for:

Paying within the contracted timetable
Arranging transport to arrive at the agreed collection time

The seller is responsible for:

The quality and quantity of each load
Loading the transport at the agreed collection time

Contract variables:

Quantity – expressed in loads
Price – collected cost per tonne (ex-works) in Pound Stirling (£)
Market – spot and 13 Forward Markets (specified in International Calendar Weeks ISO8601)
Loads – High cube or standard (24 tonnes) containers, light (20 tonnes) containers, walking floor trailer (23 tonnes)
Packing – Baled or loose
Expiry date – the default is 28 days if not otherwise specified
Location – Nominated Location (buyers); Registered Collection Facilities (sellers)
Road miles – Specified by buyer – maximum distance from a Nominated Location with in which they are willing to buy
Payment terms – Immediate or deferred payment (15, 30, 45 days from Settlement Date)

Order ↓	When the order is placed, t2e sends out an Order Confirmation Notice. By default, an order expires after 28 calendar days. Prior to trading, participants can modify or cancel the order if wished.
Transaction ↓	When the order transacts, a Transaction Confirmation Notice confirming contract and deposit details is sent to both parties. For both the buyer and seller this is the VAT invoice for the contract.
Settlement ↓	On the Settlement Date, 3 trading days after the Transaction Date, cleared funds are due at t2e from the buyer for the Deposit and Settlement Amount. On receipt a Settlement Advice Notice is sent to introduce the buyer to the seller.
Collection ↓	Counter parties must agree Collection Time(s) within the Collection Week, which runs for 7 calendar days after the Settlement Date. t2e must be copied in to this correspondence.
	For every load collected, the seller must supply Loading Evidence to the buyer and copy in t2e.
	Once t2e has received Loading Evidence for all loads in the contract, t2e will pay Contract Proceeds to the seller as long as the seller has a Bond, if not, 10% of the Transaction Consideration will be retained by t2e as a deposit.
Quality Confirmation ↓	Within 5 days of Date of Arrival at the Final Destination*, the buyer sends a Post Inspection Notification confirming quality and quantity or a Dispute is raised based on Unloading Evidence.
Quality Confirmation ↓	If no Dispute is raised, the Deposit plus interest at 0.5% below base are returned to both parties.
Completion ✔	Once cleared funds from t2e returning the Deposits adjusted as appropriate arrive at both counterparties or their Bonds, the contract is complete.
*If t2e is not informed of Date of Arrival, Deemed Date of Arrival is then used.

Delivered Contracts

Delivered Contracts allow buyers and sellers to trade Recovered Paper delivered to ports throughout the world.

Fixed criteria: The buyer is responsible for:

Paying within the contracted timetable
Collection of material from port and clearing it through customs

The seller is responsible for:

Arranging transport to deliver the load CIF according to the rules defined in INCOTERMS 2010 at the agreed delivery time and destination
The quality and quantity of each load

Contract variables:

Quantity – Expressed in loads
Price – Delivered cost per tonne in US Dollars ($)
Market – Spot and 26 Forward Markets (specified in International Calendar Weeks ISO8601)
Loads – High cube or standard (24 tonnes), light (20 tonnes) containers
Packing – Baled
Expiry date – The default is 28 days if not otherwise specified
Location – Nominated ports
Payment methods – Electronic transfer, letter of credit or standby letter of credit

Order ↓	When the order is placed, t2e sends out an Order Confirmation Notice. By default, an order expires after 28 calendar days. Prior to trading, participants can modify or cancel the order if wished.
Transaction ↓	When the order transacts, a Transaction Confirmation Notice confirming contract and deposit details is sent to both parties. For both the buyer and seller this is the VAT invoice for the contract.
Deposit ↓	If no Bond is in place, cleared funds for the Deposit are due at t2e from both buyer and seller within 3 trading days of the Transaction Date.
Shipping ↓	After loading the seller provides t2e with Loading Evidence. On shipping the seller sends two originals of the Bill of Lading* to t2e. Once the Deposits have cleared and the Settlement Amount is secured, one of the Bill of Lading is sent to the buyer.
Settlement ↓	The buyer must arrange for the Settlement Amount to arrive on the Settlement Date, the Friday prior to the Delivery Week. If a Standby Letter of Credit is in place funds must be transferred electronically.
Delivery ↓	On receipt of the Settlement Amount as cleared funds from buyer, t2e will pay the Cntract Proceeds to the seller. The buyer will be able to collect the delivered load(s) on presentation of the Bill of Lading sent by t2e.
Quality Confirmation ↓	Within 14 days of the Date of Arrival at the Delivery Port, the buyer must collect the load(s), clear them through customs and send a Post Inspection Notification confirming quality and quantity or a Dispute is raised based on Unloading Evidence.
Completion ✔	Once cleared funds from t2e returning the Deposits adjusted as appropriate arrive at both counterparties or their Bonds, the contract is complete.
*To include packing list, photographs and weighbridge tickets.

Participants

For more information on participants, or to join, contact the Trading Team on 0131 473 2337 or email paper@t2e.co.uk

Join over 500 other members now and experience complete control over the PRN process:

Complete price transparency

Enabling you to benchmark the true cost of PRNs, track market trends and review performance.

Swift and accurate settlement

Saving you time and effort on administration and processing.

Comprehensive market intelligence

Giving you access to live PRN prices and recent trades. Enabling you to react quickly and confidently to market fluctuations.

Dedicated account management

Supporting you through every stage of the process and keeping you proactively up-to-date with the latest market information.

Join over 500 other members now and experience complete control over the PRN process:

See what others say about t2e

“t2e are a vital part of the compliance infrastructure. By providing a transparent and easy-to-use trading platform they give clarity in what can be an otherwise obscure marketplace.”

“The whole t2e setup is fantastic and a necessity for my business to succeed. The team in Edinburgh are a delight to work with.”

“t2e run a very efficient service, helping us sellers understand the market and achieve an appropriate price for our PRNs.”

The Environment Exchange
Hudson House
8 Albany Street
EDINBURGH
EH1 3QB
United Kingdom

General enquiries

Phone: +44 (0) 131 526 3023
e-mail: info@t2e.co.uk

Trading

Phone: +44 (0) 131 526 3040
Fax: +44 (0) 131 473 2326

To join

Phone: +44 (0) 131 526 3040
Fax: +44 (0) 131 473 2326

Settlement

Phone: +44 (0) 131 526 3041

"t2e" and "The Environment Exchange" are trademarks vested in The Environment Exchange Ltd. Registered in Scotland. No: SC 225230. VAT No: 804 1331 78

For your protection all calls to t2e are recorded to ensure accuracy in cases of dispute or for training purposes.

Recovered Paper

The Recovered Paper (RP) marketplace provides the RP sector with a secure and regulated environment for trading the best quality Recovered Paper at the best available prices.

How it works

Collected Contracts

Delivered Contracts

Participants

Join over 500 other members now and experience complete control over the PRN process:

Complete price transparency

Swift and accurate settlement

Comprehensive market intelligence

Dedicated account management

Complete price transparency

Swift and accurate settlement

Comprehensive market intelligence

Dedicated account management

Join over 500 other members now and experience complete control over the PRN process:

See what others say about t2e

Contact us

General enquiries

Trading

To join

Settlement