Course 18 of 20 · Biofuels and SAF Desk Academy

Tolling & Supply Structuring

Stage E, Portfolio protection and integrated practice. Level 9 of 10.

Tolling and processing agreements and multi-party supply structures, with the financing terms now taught earlier applied rather than introduced.

119 chapters · 11 modules · every chapter one 8 to 10 minute explainer · builds on: Course 05, Course 09, Course 14

Enrol or enquire See the 119 chapters
How a chapter is delivered

One chapter is one idea taken to the point of use

Each chapter covers one idea to the point where you can use it, and comes two ways: a narrated explainer, and a deep dive audio discussion of around thirty minutes that works the same material at depth.

Self-paced throughout, and the same chapters can be taught as a cohort. Chapters run in order: each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

11 modules · 119 chapters

Open any module for its full chapter list, in teaching order.

M0 Tolling and Processing on a Renewable Fuels Plant Ch 1-10
  1. Conversion Bought, Not Product Bought
  2. The Chair Each Clause Is Read From
  3. Why a Feedstock Owner Tolls Instead of Selling
  4. Why a Plant Owner Sells Conversion Instead of Buying Feedstock
  5. The Allocation Table Any Processing Deal Answers
  6. The Near Relatives a Toll Is Confused With
  7. What Makes Renewable Fuels Tolling Different
  8. The Plants a Renewable Fuels Desk Tolls At
  9. One Feedstock, One Product, One Period
  10. Where the Structuring Thread Starts and Stops
M1 Who Owns What: Title Through the Process Ch 11-21
  1. Title at the Plant Gate, and What Does Not Pass
  2. Bailment or Sale: How a Toll Is Characterised
  3. Commingled Tankage and the Undivided Share
  4. Title to the Intermediate Nobody Wants
  5. Title to Finished Fuel at the Loading Arm
  6. Who Owns the Co-Product Stream
  7. The Waste Nobody Agreed to Own
  8. Risk of Loss Does Not Have to Follow Title
  9. Insuring Material Inside Someone Else's Tank
  10. Owning Without Possessing
  11. A Title Map for One Tolled Parcel
M2 Who Bears Which Risk Ch 22-33
  1. Yield Risk and the Party That Holds It
  2. Utility Cost Risk: Passed Through or Absorbed
  3. Hydrogen Cost in a Hydrotreating Toll
  4. Feedstock Quality Risk at the Inlet
  5. Off-Specification Product at the Outlet
  6. Availability Risk and the Campaign You Lose
  7. Throughput Risk When Your Feedstock Is Late
  8. Change in Law When the Scheme Moves
  9. Force Majeure Read From Each Chair
  10. Catalyst Life and a Poisoned Bed
  11. Liquidated Remedies Against Open Indemnities
  12. The Allocation Grid for One Agreement
M3 The Processing Fee Ch 34-44
  1. A Fee With a Standing Part and a Running Part
  2. What the Reserved Capability Charge Recovers
  3. The Conversion Charge Per Tonne Processed
  4. Pass-Through Items and the Evidence Behind Them
  5. Chemicals, Consumables and Disposal in the Fee
  6. Escalation and Indexation Over a Multi-Year Term
  7. Minimum Throughput and Paying for Idle Capability
  8. Overrun, Late Lifting and Charges at the Plant
  9. Co-Product Value Credited Against the Fee
  10. An Illustrative Fee Built From the Plant's Cost Base
  11. Two Walk-Away Numbers, One Negotiation
M4 Yield, Loss and the Conversion Guarantee Ch 45-55
  1. The Guaranteed Yield as a Commercial Promise
  2. Bands, Shortfall and the Dead Zone Between
  3. Sharing the Gain When the Plant Beats Its Guarantee
  4. The Loss Factor and What It Is Meant to Cover
  5. Working Backwards From a Sales Commitment
  6. Measurement at Inlet and Outlet
  7. The Independent Surveyor and the Agreed Procedure
  8. Designing a Yield Test Both Parties Accept
  9. Free Fatty Acids and Impurities in a Yield Claim
  10. Reconciling Tolled Material at Period End
  11. A Yield Shortfall Argued From Both Chairs
M5 Who Generates and Who Keeps the Entitlement Ch 56-66
  1. The Question a Toll Forces Open
  2. Producer of Record Is Scheme-Specific
  3. Registry Accounts and Who May Hold One
  4. Assigning the Value Without Assigning the Unit
  5. The Attestation the Processor Must Give
  6. Evidence Custody Written Into the Agreement
  7. Splitting Entitlement Value Inside the Fee
  8. When the Scheme Is Silent, the Contract Decides
  9. A Scheme Treatment That Changes Mid-Term
  10. Three Parties, One Entitlement
  11. An Illustrative Entitlement Split on One Campaign
M6 Co-Products and the Second Revenue Line Ch 67-76
  1. How a Side Stream Changes a Thin Toll
  2. Glycerine From an Esterification Campaign
  3. Bio-Naphtha and Light Ends From Hydrotreating
  4. Distillers Grains and Corn Oil From a Dry Mill
  5. Who Markets the Side Stream, and On Whose Account
  6. Pricing a Stream Nobody Quotes Daily
  7. Specification and the Right to Reject a Side Stream
  8. Storage and Lifting Logistics for a Side Stream
  9. The Side Stream That Becomes Another Plant's Feedstock
  10. Settling a Campaign's Co-Products
M7 Co-Processing and Shared-Asset Structures Ch 77-86
  1. Tolling Into a Unit That Also Runs Fossil Feed
  2. Segregated Campaign or Permanent Commingling
  3. The Allocation Method That Assigns Output to You
  4. Which Barrels Carry the Renewable Claim
  5. The Refinery's Own Interest in Your Campaign
  6. Scheduling a Campaign in a Shared Asset
  7. Changeover, Flush and the Transition Volume
  8. Evidence Discipline Inside a Co-Processed Toll
  9. Reserving Capability Without Tolling At All
  10. A Co-Processing Arrangement Read Clause by Clause
M8 Multi-Party Supply Structures Ch 87-98
  1. Why Three Parties Appear Where Two Would Do
  2. The Trader in the Middle: Principal or Agent
  3. Back-to-Back Chains and the Mirror That Is Not Exact
  4. Tripartite Agreements and the Direct Covenant
  5. Feedstock Supplied by the Fuel Buyer
  6. Consignment Stock at a Blending Terminal
  7. The Four-Corner Structure Around One Plant
  8. Novation, Assignment and Step-In Through a Chain
  9. Flow-Down Obligations That Stop Short
  10. Confidentiality Against the Evidence a Chain Needs
  11. A Three-Party Structure, Part One: Who Owns and Who Owes
  12. A Three-Party Structure, Part Two: Where It Breaks
M9 Choosing, Pricing and Negotiating the Structure Ch 99-109
  1. Toll, Buy-Sell or Capability Reservation
  2. The Same Tonne Under Three Structures
  3. Applying the Funding Terms You Already Have
  4. Payment Timing Against the Day Product Loads
  5. Exposure the Structure Creates, Not the Price
  6. How Long a Processing Commitment Should Run
  7. Exclusivity, First Call and Volume Priority
  8. What a Processor Will Concede and What It Will Not
  9. Heads of Terms for a Processing Deal
  10. Reading an Unfamiliar Processing Agreement in One Pass
  11. The Concession Log and the Next Negotiation
M10 A Worked Structuring Case and the Limits Ch 110-119
  1. The Case: Waste Oil, a Third-Party Plant and an Obligated Buyer
  2. Case, Part One: Allocating Ownership and Risk
  3. Case, Part Two: The Fee and the Yield Guarantee
  4. Case, Part Three: Placing the Entitlement
  5. Case, Part Four: The Buyer Joins the Document
  6. The Campaign as It Actually Ran
  7. The Shortfall, and Who Paid for It
  8. Drafting Errors That Recur in Processing Agreements
  9. What Structuring Cannot Fix
  10. What This Capability Hands Forward

The brochure gives each of these 119 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 18 of twenty

It stands alone, and it is also the entry point to the Biofuels and SAF Desk Academy pathway.

Enrol or enquire See the whole pathway