REFLORA INITIATIVE MARKETPLACE TERMS AND CONDITIONS
These terms and conditions will come into force when the Customer accepts them and consents to them by confirming the read and acceptance of the Terms and Conditions during the registration process, before accessing Reflora’ s platform. Additionally, by making any payment in conjunction with a purchase of the carbon credits the user agrees to be legally bound by these Terms and Conditions document.
In the event that the customer disagrees with any clause incorporated in these Terms and Conditions, will not accept them, impeding the execution of the operations through Reflora´s platform. However, any doubt of the clauses of the Terms and Conditions can be solved and analyzed by communicating through the following email address hello@reflorainitiative.com
Reflora Initiative Marketplace is a platform enabling the Customer to purchase carbon credits. All the carbon credits offered on Reflora´s platform are duly certified by highly qualified standard entities in the market, guaranteeing transparency in the operation.
All projects emitting carbon credits are subject to periodic revisions by Reflora.
Additionally, Reflora offers to the customers the opportunity to support Agriculture, Forestry and other Land Use Projects not certified. These are projects that do not come from emissions trading systems such as verified carbon credits but do generate a positive impact in the environment. Therefore, this type of investment cannot be used to offset carbon emissions neither to acquire the PAS 2060 Carbon Neutrality Certification. This condition is specifically mentioned in the description of each project when applied.
Platform Access
Upon successful registration customers will be provided with credentials to enter the platform operated by Reflora. On the platform customers can access all projects Reflora works with which currently offer carbon credits to be purchased.
Project information provision
Reflora provides an executive summary of the projects, details about the type, name and location of the project and details about the amount, price and certification of the offered carbon credits or compensation options. Supplementing project documentation will be provided for download.
Purchase of carbon credits (Sale and purchase on demand, certified)
The Customer can choose the amount of carbon credits she/he wants to purchase for certified projects which issue carbon credits on the platform operated by Reflora. Once the Customer confirms a binding purchase, she/he will be provided with an invoice and the necessary details to perform the transfer to settle the purchase price due.
Upon receival of the purchase price due on the specified bank account held by Reflora, the customer will be informed of the receival and the carbon credits will be purchased by Reflora from the specified project.
In case of non-receival of the amount due by Reflora on the specified bank account held by Reflora within the specified timeframe in the invoice, Reflora will contact the customer with a reminder and request to transfer the amount due.
Purchase of carbon credits (pre purchase, sale and retirement on demand, certified)
Reflora purchases carbon credits in bulk from specific projects and retains these credits active on the registry account held by Reflora.
The Customer can choose the amount of carbon credits she/he wants to purchase for certified projects which issue carbon credits on the platform operated by Reflora. Once the customer confirms a binding purchase, she/he will be provided with an invoice and the necessary details to perform the transfer to settle the purchase price due.
Upon receival of the purchase price due on the specified bank account held by Reflora, the customer will be informed of the receival and the carbon credits will be retired by Reflora on behalf of and in the name of the customer.
In case of non-receival of the amount due by Reflora on the specified bank account held by Reflora within the specified timeframe in the invoice, Reflora will contact the customer with a reminder and request to transfer the amount due.
Purchase of carbon credits (sale on demand, monthly purchase cycle, certified)
Reflora purchases carbon credits in bulk from specific projects at the end of a given month based on the sale of carbon credits of the given project.
The customer can choose the amount of carbon credits she/he wants to purchase for certified projects which issue carbon credits on the platform operated by Reflora. Once the customer confirms a binding purchase, she/he will be provided with an invoice and the necessary details to perform the transfer to settle the purchase price due.
Upon receival of the purchase price due on the specified bank account held by Reflora, the customer will be informed of the receival by email.
Reflora will purchase the carbon credits from the given projects in a bulk purchase from the specified project on a monthly basis. Once Reflora receives the carbon credits on the registry account held by Reflora, the carbon credits are retired on behalf on and under the Customer's name.
In case of non-receival of the amount due by Reflora on the specified bank account held by Reflora within the specified timeframe in the invoice, Reflora will contact the customer with a reminder and request to transfer the amount due.
Compensation of CO2 emissions (Sale on demand, monthly purchase cycle, non-certified / issued)
Reflora compensates co2 in bulk with specific projects on a monthly basis based on the aggregated compensation by customers with the specific project. The funds for compensation in this case are transferred to the project by Reflora on a monthly basis after the compensation transaction by the customer(s).
The customer can choose the amount of co2 s/he wants to compensate for any project which sequester co2 from the atmosphere but do not issue carbon credits in a registry as shown on the platform operated by Reflora. Once the customer confirms a binding compensation, s/he will be provided with an invoice and the necessary details to perform the transfer to settle the purchase price due.
Upon receival of the purchase price due on the specified bank account held by Reflora, the customer will be informed of the receival.
Reflora will transfer the funds for compensation to the specified project on a monthly basis.
In case of non receival of the amount due by Reflora on the specified bank account held by Reflora within the specified timeframe in the invoice, Reflora Initiative will contact the customer with a reminder and request to transfer the amount due.
Compensation of CO2 emissions (pre purchase, sale on demand, non-certified / issued)
Reflora compensates CO2 in bulk with specific projects. The funds for compensation in this case are pre financed by Reflora.
The customer can choose the amount of CO2 she/he wants to compensate for any project which sequester CO2 from the atmosphere but do not issue carbon credits in a registry as shown on the platform operated by Reflora. Once the customer confirms a binding compensation, she/he will be provided with an invoice and the necessary details to perform the transfer to settle the purchase price due.
Upon receival of the purchase price due on the specified bank account held by Reflora, the customer will be informed of the receival.
In case of non-receival of the amount due by Reflora on the specified bank account held by Reflora within the specified timeframe in the invoice, Reflora Initiative will contact the customer with a reminder and request to transfer the amount due.
Compensation of CO2 emissions (Sale and compensation demand, non-certified / issued)
The customer can choose the amount of CO2 she/he wants to compensate for any project which sequester CO2 from the atmosphere but do not issue carbon credits in a registry as shown on the platform operated by Reflora. Once the customer confirms a binding compensation, she/he will be provided with an invoice and the necessary details to perform the transfer to settle the purchase price due.
Upon receival of the purchase price due on the specified bank account held by Reflora, the customer will be informed of the receival and the funds for compensation will be transferred by Reflora to the specified project.
In case of non-receival of the amount due by Reflora on the specified bank account held by Reflora within the specified timeframe in the invoice, Reflora will contact the customer with a reminder and request to transfer the amount due.
Retirement of carbon credits
Sale, purchase and retirement on demand:
Upon receival of the carbon credits on the account held by Reflora with the registry the carbon credits are registered at, the carbon credits will be retired by Reflora on behalf of and in the name of the customer. The customer will be informed by Reflora of the retirement of the carbon credits by email.
Sale on demand, monthly purchase and retirement cycle:
For projects from which Reflora purchases credits in bulk on a monthly cycle, Reflora aggregates the carbon credit purchase from the project on a monthly basis. Once the monthly aggregated purchase from the project is concluded and Reflora receives the carbon credits on the registry account held by, Reflora retires the purchased credits on behalf of and under the customer's name.
Pre-purchase, on demand sale and retirement:
For projects from which Reflora pre-purchases credits in bulk, Reflora holds and retains the carbon credits in the registry account held by Reflora. Upon purchase of carbon credits and receival of the amount due by Reflora on the bank account held by Reflora, Reflora retires the purchased credits on behalf of and under the customer's name.
Provision of offset certificate
Upon retirement of the purchased carbon credits by Reflora on behalf of the customer, Reflora will provide a certificate of the amount of compensated carbon to the customer.
Upon successful transfer of the funds for compensation of CO2 emissions to a non-certified / non issuing project, Reflora will provide a certificate of the amount of compensated carbon to the customer.
Reflora Initiative platform offer to its Customers the possibility to calculate the carbon footprint of their activities through a calculator developed by Reflora.
By calculating the carbon footprint, the Customer shall obtain a general estimation of the emissions generated from its activity based on the information provided by the Customer.
Reflora Initiative hosts and operates an online carbon credit marketplace on which Customers interested in offsetting their carbon emissions can purchase carbon credits issued by AFOLU Projects. All available carbon credits on the marketplace are duly certified by high standard certifiers.
Through Reflora´s platform customers can compensate their GHGs emissions by purchasing carbon credits from different options of AFOLU Projects offered in the platform.
Reflora will provide the client with an Impact Compensation Report detailing the information the overall impact of the chosen project, including the amount of exact compensation made by the client, the project towards which the impact was created, and additional material that can be used by the Client to promote its efforts to sustainability. This additional material would be provided for the customer that buy more than ten (10) carbon credits through our platform.
The responsibility for the use of the information provided in the Compensation Report lies solely on the Customer, and Reflora has no obligations or responsibility over the use of this information.
The calculations developed by the Carbon Footprint Calculator offered by Reflora are based on information provided by the Customer and are used to determine a general estimation of the amount of carbon emissions for carbon offset purposes. This calculation serves as an estimate based on information provided by the client to be used for communication purposes.
Reflora shall not be responsible for the calculation of any CO2 emissions produced from other activities, processes, actions, products and/or services outside of the scope informed.
Reflora shall not be responsible for the accuracy of the information provided by the Customer interested in calculating its carbon emissions through the Carbon Footprint Calculator.
The carbon footprint calculations obtained through the Carbon Footprint Calculator developed by Reflora, cannot be used currently for the request of a third-party certification, such as PAS 2060.
The customer expressly consents and accepts that the calculations provided by the Carbon Footprint Calculator of Reflora are estimates. Therefore, no responsibility will be attributed to Reflora because of inexact and inaccurate results obtained from the calculations of the carbon footprint of the Customer.
After the customer purchases carbon credits on the platform and the purchase is completed by successful transfer of the purchase price to the above defined account held by Reflora, the carbon credits are purchased from the project. Upon receival of the carbon credit by Reflora Initiative from the project, the credits are immediately retired. This concludes the transaction and represents the offsetting of the respective amount of CO2 emissions.
After the purchase, Reflora will issue a certificate that is an electronic document that records the information of the operation. After retirement of the credits, Reflora provides the customer a certificate that recognizes the offsetting of the emissions in the amount of credits retired. One carbon credit is equal to one ton of CO2 emissions.
The emission of the certification of the offsetting process will not be applicable for the investment in the support of Agriculture, Forestry and other Land Use Projects not certified by verifiers entities, considering that these projects do not come from emissions trading systems such as verified carbon credits. Therefore, this type of support cannot be used to offset carbon emissions neither to acquire the PAS 2060 Carbon Neutrality Certification. This condition is specifically mentioned in the description of each project when applied.
The final price that the CUSTOMER shall pay for the transaction contains the following concepts:
Upon the binding purchase of carbon credits on the platform operated by Reflora Initiative, the client will be provided with an invoice and the account and transaction details for the payment of the amount due to be transferred to. The payment is to be made by credit card or bank transfer in within the timeframe specified on the invoice.
Reflora and the Customer agree initially attempt to solve all controversies and disputes arising under this agreement by conducting good faith and internal negotiations. However, the failure in internal negotiations will imply that the controversies shall be governed by and interpreted in accordance with the laws of Portugal and Reflora and the Customer expressly accept to submit to the exclusive jurisdiction of the courts of Portugal.