Covered parties may transfer ERUs under the conditions in this section.

(1) Required documentation.

(a) Documentation of an ERU transfer may consist of contractual arrangements, memoranda of understanding, or other similar records with sufficient detail to document the transfer of the ERU from one covered party to another.

(b) The transfer of ERUs occurs between accounts in the registry established in WAC 173-442-230.

(2) Tracking emission reduction units. The covered party must document each transfer of an ERU in the compliance report in a format specified by ecology and in the registry established in WAC 173-442-230.

(3) Role of third-parties in transactions.

(a) Entities other than covered parties may facilitate, broker, or assist covered parties to transfer ERUs recorded in accounts in the registry, but they may not hold ERUs.

(b) Only covered parties, ecology, and voluntary participants may hold ERUs.