Buyers intending to purchase Timber at an auction must transfer the respective initial deposit to the bank account of the Administrator of the ETTS for the amount of Timber they intend to buy.

Short-term contracts

The initial deposit for short-term contracts must be submitted at least 1 working day before the start of the auction.

Initial deposit = Purchase offer quantity * weighted sales order price * 3%. The amount of the initial deposit may not be less than EUR 100 and not more than EUR 10 000 per order.

The share of the initial deposit of buyers winning the auction that corresponds to the won quantity of timber (and calculated using the initial selling price of timber) shall, at the latest within 2 business days from the date of the auction, be transferred to the seller and viewed as payment (advance payment) to the seller of the share of the price for purchased timber.

The initial deposit provided by the buyers shall be deposited as cash in the bank account of the EMPS administrator:
Luminor Bank, AB
Bank code 40100
SWIFT AGBLLT2X
Account. No. LT66 4010 0510 0206 3368
Payment code/Reference: 3070

Long-term, half-year contracts

The initial deposit for long-term, half-year contracts must be provided at least 4 business days before the start of the respective auction.

Amounts of the initial deposit:

• buyers intending to buy up to 100 m³ of Timber – EUR 100;
• buyers intending to buy from 101 to 1,000 m³ of Timber – EUR 1,000;
• buyers intending to buy from 1,001 to 5,000 m³ of Timber – EUR 3,000;
• buyers intending to buy from 5,001 to 10,000 m³ of Timber – EUR 5,000;
• buyers intending to buy over 10,000 m³ of Timber – EUR 10,000.

The initial deposit payable by buyers must be transferred to the following bank account of the Administrator of the ETTS:

Bank: Luminor Bank AB
Bank code: 40100
SWIFT: AGBLLT2X
Account No. LT66 4010 0510 0206 3368

The following must be specified in the payment details: Auction ID.

Please note, that the 0.12% trading fee, calculated on the value of the timber purchase-sell contract concluded in the ETTS, is credited to this bank account:

Bank: Luminor Bank AB
Bank code: 40100
SWIFT: AGBLLT2X
Account No. LT97 2140 0300 0243 1534

The following must be specified in the payment details: Invoice no.