Native Vegetation Credit Register
Trading native vegetation credits
Information sheet number 3
Native vegetation credits are typically used to meet an
offset requirement. Permit holders may contact a credit
matcher, such as BushBroker or Trust for Nature, to source
a credit that matches their specific offset requirements.
Prospective buyers are not required to go through a credit
matcher, however, this is generally the most efficient
means of locating credits that match their offset
requirements.
Documentation provided to NVCR
How are credit trades recorded?
NVCR updated and credit statements issued
The process for recording a change in ownership of credits
resulting from a credit trade includes:
1.
Credit Trading Agreement prepared
2.
Documentation provided to NVCR
3.
NVCR updated and credit statements issued
Credit Trading Agreement prepared
Once a credit owner and credit buyer agree on a price for
the credits, a Credit Trading Agreement is drawn up. The
parties to the Credit Trading Agreement differ depending
on whether the credit trade is primary or secondary.
A primary credit trade is one where the landholder
managing the credit site is also the credit owner trading the
credits. For primary credit trades the parties to the credit
trading agreement are the credit owner, the buyer of the
credit and the organisation administering the security
agreement.
A secondary credit trade occurs where the landholder
responsible for managing the credit site has already traded
their credits and this is a subsequent trade. For secondary
and all subsequent credit trades the parties to the credit
trading agreement are the credit owner, and the buyer of
the credit only.
The credit seller notifies the Native Vegetation Credit
Register (NVCR) that a credit trade has taken place and
provides a signed copy of the credit trading agreement and
trade settlement form. The Native Vegetation Credit
Registrar will check that the trade is valid. Trades are valid
if the credit seller is the listed credit owner on the NVCR
and that the credits have not been allocated.
Provided the trade is valid, the Registrar will record the
change of ownership on the NVCR.
The Registrar will send a standard credit extract to the new
credit owner showing the credits recorded in their name.
These credits can then be traded again or the new credit
owner can allocate the credits to meet offset requirements.
For more information about allocating native vegetation
credits please refer to Native Vegetation Credit Register
Information Sheet 4.
Further information
For further information on native vegetation, please contact
the Department of Environment and Primary Industries
(DEPI) Customer Service Centre on 136 186 or visit the
DEPI website at: www.depi.vic.gov.au/nativevegetation
Trading native vegetation credits
Published by the Victorian Government Department of Environment and Primary
Industries Melbourne, October 2013
© The State of Victoria Department of Environment and Primary Industries
Melbourne 2013
This publication is copyright. No part may be reproduced by any process except
in accordance with the provisions of the Copyright Act 1968.
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Disclaimer
ISBN 978-1-74287-518-7 (online)
www.depi.vic.gov.au
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