Habitat Bank Tender Policy
BNG MADE SIMPLE.
1. Definitions
1.1 In this Tender Policy, capitalised terms shall have the meanings given to them in the Platform Terms unless otherwise defined.
2. Status of this Tender Policy
2.1 This Tender Policy forms part of the Platform Terms.
2.2 In the event of any inconsistency or conflict between this Tender Policy and the Platform Terms, the Platform Terms shall prevail.
2.3 This Tender Policy applies to all Tenders submitted by Habitat Banks via the Platform.
3. Compliance with Applicable Law
3.1 In accordance with Clause 5 of the Platform Terms, you must ensure that all Tenders comply with Applicable Law.
3.2 By submitting a Tender, you warrant and confirm that:
(a) the Biodiversity Units quoted comply with all applicable biodiversity net gain requirements and trading rules in force at the time of submission;
(b) the proposed allocation of Biodiversity Units is consistent with the Statutory Biodiversity Metric;
(c) the Biodiversity Units are capable of lawful allocation to the relevant Development; and
(d) the Biodiversity Units proposed are capable of being used to satisfy all applicable biodiversity net gain requirements necessary to discharge the relevant planning condition or obligation, including all applicable local planning authority requirements, without the need for additional Biodiversity Units or off-platform arrangements.
3.3 Without limitation, this includes compliance with:
(a) the mitigation hierarchy;
(b) spatial and risk multipliers;
(c) habitat distinctiveness and condition requirements; and
(d) applicable guidance issued by DEFRA, Natural England or any competent authority.
4. Capability to Form a Transaction
4.1 Each Tender must be capable of resulting in a Transaction which enables the Developer to satisfy its biodiversity net gain requirement in accordance with Applicable Law.
4.2 By submitting a Tender, you confirm that the Biodiversity Units:
(a) are suitable for the relevant Development; and
(b) can be used to meet the Developer’s planning requirements.
5. Pricing
5.1 All Tenders must be submitted on a fully inclusive basis.
5.2 The price stated in a Tender must include all costs required to complete the Transaction, including (without limitation):
(a) the Biodiversity Units;
(b) allocation of Biodiversity Units to the Development;
(c) administrative and coordination costs;
(d) reasonable legal and professional costs required to implement the Transaction;
(e) monitoring, reporting and management obligations (where applicable); and
(f) any other costs necessary to enable the Biodiversity Units to be validly relied upon by the Developer.
5.3 All prices are exclusive of VAT unless expressly stated otherwise.
5.4 The price set out in a Tender shall be the total consideration payable by the Developer for the Biodiversity Units (exclusive of VAT).
6. Availability of Biodiversity Units
6.1 You must ensure that any Biodiversity Units included in a Tender:
(a) are available for allocation; and
(b) are not knowingly committed to another Transaction.
6.2 You must have the legal right to enter into a Transaction in respect of those Biodiversity Units.
7. Variation of Biodiversity Units
7.1 The Biodiversity Units proposed within a Tender may be varied prior to entry into a Transaction provided that:
(a) the revised Biodiversity Units comply with all applicable biodiversity net gain trading rules;
(b) the revised allocation remains capable of satisfying the Developer’s planning requirements in accordance with Applicable Law; and
(c) the total price payable by the Developer does not increase.
7.2 Any variation must be clearly communicated in writing and agreed by both ReVerte and the Developer prior to entry into a revised Transaction.
8. Accuracy of Tenders
8.1 All Tenders must be accurate, complete and not misleading.
8.2 You must ensure that:
(a) all information relating to Biodiversity Units, the Metric and pricing is correct; and
(b) any assumptions, qualifications or dependencies are clearly stated.
9. Withdrawing a Tender
9.1 You may withdraw a Tender at any time before a Developer clicks “Accept Quote” by selecting the withdrawal option on the Platform.
9.2 You must withdraw a Tender promptly if:
(a) units are no longer available;
(b) pricing is inaccurate;
(c) information becomes misleading; or
(d) the Tender cannot be fulfilled.
9.3 Withdrawal does not affect Commission obligations already arisen.
9.4 Repeated withdrawal without genuine reason may result in suspension or removal.
10. Tender Validity
10.1 Each Tender must adhere to the validity period specified in the Platform Terms.
10.2 During that period:
(a) the price must remain available; and
(b) the Biodiversity Units must remain available.
11. Platform Integrity
11.1 Tenders must be submitted and progressed in accordance with the Platform Terms.
11.2 You must not use a Tender or any information obtained via the Platform to circumvent the Platform.
12. ReVerte Rights
12.1 ReVerte may:
(a) review Tenders for compliance;
(b) reject or remove any Tender; and
(c) take action in the event of a breach.
13. Amendments
13.1 ReVerte may amend this Tender Policy from time to time. Amendments take effect when published or notified.