Innovative Contracting Services

At Synergy Environmental, our emphasis is on solving environmental problems which impact our client’s business operations.  To achieve this we apply a three step business solution approach in developing our proposals and scopes of work:

Step 1.  Determine Fund Availability

Before the job begins, we work with the client to determine funding available to pay for the release.  Sources considered:
State administered Underground Storage Tank Funds
Private Insurance and evaluation of applicability of claims against existing policies
Other Contractual indemnities available
Crucial for HYPERLINK \l “PORTFOLIO” Large Portfolios of properties transferring together

Step 2.  Identify Objectives/ End Points

Once funding source is determined, we begin to develop a scope of work by considering site specific conditions which will impact direction of project, including:
Determine client’s business objective for future use of the site(s)
Evaluate State Environmental Regulatory framework and guidelines for Risk Based Closures and pitfalls to avoid
Perform streamlined due diligence to assess existing environmental conditions
Evaluate the presence of Sensitive Receptors to determine endpoints

Step 3.  Offer Fixed Price Terms if Appropriate

Project is initiated with a clear closure strategy in mind
Fixed price cost is established prior to project initiation
HYPERLINK \l “ELA” Environmental Liability Assumption and HYPERLINK \l “IFPR” IFPR (Insured Fixed Price Remediation) can be considered
Remediation is expedited to minimize downtime and interruption with ongoing business operations.
End use is considered in restoring site

Examples of Innovative Synergy Contracts

Large Portfolio Transfer – Retail Gasoline Service Stations
Changes in the petroleum distribution market have resulted in significant shifting of ownership of the real and personal property associated with retail gasoline service stations.  In addition to portfolio transfers attributed to merger and acquisition activity, most of the major international petroleum refiners and distributors (ExxonMobil, BP, Shell, etc…) have embarked on strategies to divest their holdings of these assets.  Synergy has successfully performed over 10 transactions, totaling over 400 individual properties.

IFPR - Insured Fixed Price Remediation
IFPR -  IFPR is a generic description of a Fixed Price Remediation project for which funding has been provided and escrowed for costs through to project completion at the initiation of the remediation project, including collateralization of potential cost overruns through insurance or other means.  The critical aspect of an IFPR solution is a dramatic improvement in cost certainty prior to project initiation.  The source of funding can vary from one or a combination of the following sources:
Remediation Trust Account
Qualified Settlement Trust (468B)
Collateralized Environmental Indemnity Agreement
Pollution Legal Liability Insurance
Cost Cap Insurance
Underground Storage Tank Insurance
State Underground Storage Tank Fund

Environmental Liability Assumption
Synergy is able to consider assumption of liability in certain circumstances.  In a liability assumption transaction, Synergy will contractually take responsibility for completing site remediation to an agreed upon endpoint for a fixed fee lump sum amount.  Synergy’s commitment may or may not be collateralized by insurance or other financial mechanisms depending on the circumstances.  Examples of liability assumption transactions:

(link to)Project # 1 Environmental Liability Assumption – Portfolio Transfer
(link to )Project # 2 Environmental Liability Assumption – PRP Settlement

Specialty Contracting Services

At Synergy Environmental, our emphasis is on solving environmental problems which impact our client’s business operations.  To achieve this we apply a three step business solution approach in developing our proposals and scopes of work:

Step 1.  DETERMINE FUND AVAILABILITY
Before the job begins, we work with the client to determine funding available to pay for the release.  Sources considered:
State administered Underground Storage Tank Funds
Private Insurance and evaluation of applicability of claims against existing policies
Other Contractual indemnities available
Crucial for HYPERLINK \l “PORTFOLIO” Large Portfolios of properties transferring together

Step 2.  IDENTIFY OBJECTIVES/ END POINTS
Once funding source is determined, we begin to develop a scope of work by considering site specific conditions which will impact direction of project, including:
Determine client’s business objective for future use of the site(s)
Evaluate State Environmental Regulatory framework and guidelines for Risk Based Closures and pitfalls to avoid
Perform streamlined due diligence to assess existing environmental conditions
Evaluate the presence of Sensitive Receptors to determine endpoints

Step 3.  OFFER FIXED PRICE TERMS IF APPROPRIATE
Project is initiated with a clear closure strategy in mind
Fixed price cost is established prior to project initiation
HYPERLINK \l “ELA” Environmental Liability Assumption and HYPERLINK \l “IFPR” IFPR (Insured Fixed Price Remediation) can be considered
Remediation is expedited to minimize downtime and interruption with ongoing business operations.
End use is considered in restoring site
Specialty Contracting Services

Large Portfolio Transfer – Retail Gasoline Service Stations
Changes in the petroleum distribution market have resulted in significant shifting of ownership of the real and personal property associated with retail gasoline service stations.  In addition to portfolio transfers attributed to merger and acquisition activity, most of the major international petroleum refiners and distributors (ExxonMobil, BP, Shell, etc…) have embarked on strategies to divest their holdings of these assets.  Synergy has successfully performed over 10 transactions, totaling over 400 individual properties.

IFPR - Insured Fixed Price Remediation
IFPR -  IFPR is a generic description of a Fixed Price Remediation project for which funding has been provided and escrowed for costs through to project completion at the initiation of the remediation project, including collateralization of potential cost overruns through insurance or other means.  The critical aspect of an IFPR solution is a dramatic improvement in cost certainty prior to project initiation.  The source of funding can vary from one or a combination of the following sources:

Remediation Trust Account
Qualified Settlement Trust (468B)
Collateralized Environmental Indemnity Agreement
Pollution Legal Liability Insurance
Cost Cap Insurance
Underground Storage Tank Insurance
State Underground Storage Tank Fund

Environmental Liability Assumption
Synergy is able to consider assumption of liability in certain circumstances.  In a liability assumption transaction, Synergy will contractually take responsibility for completing site remediation to an agreed upon endpoint for a fixed fee lump sum amount.  Synergy’s commitment may or may not be collateralized by insurance or other financial mechanisms depending on the circumstances.  Examples of liability assumption transactions:

(link to)Project # 1 Environmental Liability Assumption – Portfolio Transfer

(link to )Project # 2 Environmental Liability Assumption – PRP Settlement

INSURANCE UNDERWRITING AND CLAIMS SUPPORT

Experienced insurance professionals on staff

Oversight of Underground storage tank removal and installation projects
(certified personnel in Pennsylvania and New Jersey)

Oversight of Asbestos and lead paint abatement projects

Invoice review of environmental consulting/contracting costs

Cost recovery/subrogation technical support

PRP Settlement expertise – technical support and liability assumption

Cause and Origin analysis