The Project Developer can claim Gold Standard pre-CDM VERs for a maximum of two years prior to the start of the CDM or Joint Implementation (JI) crediting period (date of registration/determination under UNFCCC), provided they enter into an agreement with The Gold Standard Foundation. This agreement states that the Project Participants will commit to surrender to The Gold Standard Foundation, for immediate retirement, Certified Emission Reductions (CERs) or Emissions Reduction Units (ERUs) that will be issued with respect to Greenhouse Gas (GHG) Reductions generated by the Project during the CDM or JI crediting period in an amount equal to the pre‐CDM VERs or pre-JI VERs. In all cases, credits cannot be claimed for more than a period of two years prior to the Gold Standard registration date.