Amendments to the EMPS Conditions of Use adopted

In response to feedback received regarding the grouping of timber products auctioned for short-term contracts with specific lengths in the sale bids by specific length rather than by length class, and in order to limit the possibility of buyers submitting erroneous bids, amendments to the Conditions of Use of the Electronic Timber Trading System (hereinafter ‘ETTS’) were adopted on 22 July 2024.

For the auctions from 29.07.2024 and for the submission of sale and purchase bids for these auctions:

• Sales bids for individual auctions will be grouped by specific length rather than by length class – except for products not classified by length (logging residues);
• The buyer, when submitting a purchase offer or increasing the price of a purchase offer, must increase the price to the extent that the original price or the calculated latest ranking of the bids would result in the acquisition of the additional volume of timber by such bidder. That is to say, increases in the purchase offer price which are not made with a view to acquiring timber are not counted;
• In order to eliminate the possibility of an error where buyers enter a clearly erroneous purchase offer price, the possibility of submitting a purchase offer or a price increase in excess of 30% or 10 €/ktm (whichever is the lower of the two values) in a purchase offer or a price increase in a single stage will now be limited.

Electronic Timber Trading System Administrator
BALTPOOL