Host Party project participants have permanent holding accounts in the CDM registry, which are established at the time of the first issuance of certified emission reductions (CERs) for a CDM project activity.
Annex I project participants have temporary holding accounts in the CDM registry until the international transaction log (ITL) is operational. Once permanent national registry accounts are established and connected to the CDM registry through the ITL, temporary holding accounts will be closed and CERs will be forwarded from the Executive Board's pending account directly to project participants' permanent national registry accounts.
It is not possible to transfer CERs between holding accounts, or to any account other than the account held by a registered project participant in the national registry of the Annex I Party that provided the letter of approval.
Applications for holding accounts must be submitted electronically and in hard copy in accordance with the registered modalities of communication for the project activity. Each application shall contain;
- a completed form to request the opening of a holding account in the CDM registry (F_CDM_registry_account.doc);
- evidence of the current status of the entity (e.g. certificate of incorporation and letter of good standing in the case of registered companies);
- evidence that the individual completing the application form has the authority of the legal entity to do so (e.g. power of attorney, resolution of the Board/Governing Body of the entity); and
- evidence of the identity of the individuals nominated as representatives of the account (e.g. national identity cards/passports) (UNFCCC website).