A Compatible Certificate Tracking System is a generation tracking system that has an operating agreement with M-RETS. Only a Compatible Certificate Tracking System may import Certificates into M-RETS. Similarly, M-RETS can only export Certificates to a Compatible Certificate Tracking System. M-RETS supports open and transparent markets.
Using the M-RETS API, M-RETS supports allowing imports and exports between all Certificate tracking systems in North America, including allowing for the import/export of imported/exported Certificates. If a current system does not have import/export with M-RETS, please contact them and ask them to establish a connection.
Certificates may be imported into M-RETS by a process of conversion. Conversion entails retiring the Certificate from the exporting tracking system and creation of a corresponding M-RETS Certificate. When the new M-RETS Certificate is issued, all data fields will remain with the imported Certificate, and the Certificate serial number will be structured in a way to identify it as a Certificate that originated in a Compatible Tracking System.
To import Certificates into M-RETS, the M-RETS User must arrange for the transfer of Certificates from the counterparty privately. In general, as with all transfers, the party in possession of the Certificates must initiate the transfer. Therefore, the transferor will notify their system administrator of the desire to export Certificate(s) from their system into M-RETS, along with the information about the transferee, such as name and M-RETS Account number. The administrator of the transferor's tracking system will then communicate with M-RETS of the Certificate pending Certificate conversion. M-RETS will then notify the M-RETS User of the transfer and ask them to accept or reject the transfer. If the User accepts the transfer, the conversion of Certificates will ensue. Such a conversion will involve the export of the Certificate from the exporting system, and the issuance of a new Certificate by M-RETS. The converted Certificate will designate the system of origin and M-RETS will maintain a record of the serial number that was assigned in the exporting system. Through a coding system, the M-RETS serial number will identify the Certificate as imported and the tracking system of origin.
If the User rejects the import, M-RETS will notify the administrator of the other system, and no Certificate conversion will take place.