Regarding approval of draft amendments to the Conditions of Use of the ETTS

The administrator of the Electronic Timber Trading System (hereinafter the ETTS), BALTPOOL UAB (hereinafter the Administrator), which was appointed by Resolution No. 1092 of the Government of the Republic of Lithuania of 20 December 2017, with consideration of amendments to the Description of the Procedure of Trade in Timber and Timber Harvesting Residues Produced in State Forests approved by Resolution No. 972 of the Government of the Republic of Lithuania of 30 November 2017 (hereinafter the Description) that become effective on 1 July 2024, has reviewed the Conditions of Use of the Electronic Timber Trading System (hereinafter the Conditions) and hereby provides to market participants for analysis the proposed draft amendments to the Conditions (hereinafter the Draft).

Key amendments proposed in the Draft:

• Adjustment of the Conditions of Use of the ETTS based on amendments to the Description;
• Adjustment of the issues of organisation and implementation of auctions that are not detailed in the Description;
• Establishment of a schedule of organising auctions on individual days of the week for concluding short-term contracts.

Should you have any questions on the proposed provisions of the Draft, please do not hesitate to contact us.

APPENDED. Draft amendments (in LT with track changes) to the Conditions of Use of the Electronic Timber Trading System, 11 pages