5.3 Transfer and Delivery Rules and Ownership History

Project proponents can make deliveries to buyer credit accounts, resulting in the transfer of ownership of one or more newly issued credits. Further transfers can be made by credit account holders to other credit accounts, transferring ownership of one or more credits. For each credit, the initial delivery and all subsequent transfers are recorded and made publicly available in the credit's history.

Project proponent deliveries are governed by the following rules:

• Project proponents can only deliver credits that have been issued.

• Project proponents can only deliver credits that they own.

• Project proponents can only deliver credits to buyers with an active Nature Climate Standard account.

Buyer transfers are governed by the following rules:

• Buyers can only transfer credits that they own.

• Buyers can only transfer credits to another organisation that has a credit account on the Nature Climate Standard registry.