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1.1''Purpose'''The purpose of this practice is to define a good practice in the United States of America for conducting a transaction screen2 for a subject property where the user wishes to conduct limited environmental due diligence (that is, less than a Phase I Environmental Site Assessment). If the driving force behind the environmental due diligence is a desire to qualify for one of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) Landowner Liability Protections (LLPs), this practice should not be applied. Instead, the ASTM E1527: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process or ASTM E2247: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process for Forestland or Rural Property may be used.

1.1.1''This practice will not satisfy the requirement to conduct all appropriate inquiries into the previous ownership and uses of the subject property consistent with '''generally accepted good commercial and customary standards and practices''' as defined in 42 U.S.C. ''9601(35)(B) to qualify for one of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) Landowner Liability Protections (LLPs). Users who desire to conduct environmental due diligence to qualify for one of the CERCLA LLPs should conduct assessment activities in conformity with '''Standards and Practices for All Appropriate Inquiries,''' 40 C.F.R. Part 312; ASTM E1527: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process or ASTM E2247: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process for Forestland or Rural Property.

1.2''An evaluation of business environmental risk associated with a parcel of commercial real estate may necessitate investigation beyond that identified in this practice. See Sections 1.4 and 9.

1.2.1''Potential Environmental Concerns'''The goal of conducting a transaction screen is to identify potential environmental concerns as defined in 3.2.36.

1.2.2''Other Federal, State, and Local Environmental Laws'''This practice does not address requirements of any state or local laws or of any federal laws. Users are cautioned that federal, state, and local laws may impose environmental assessment obligations that are beyond the scope of this practice. In some cases, government agencies permit the use of this practice in connection with their programs but sometimes impose additional requirements going beyond this practice. Users should also be aware that there are likely to be other legal obligations with regard to chemicals of concern discovered on property that are not addressed in this practice and may pose risks of civil or criminal sanctions or both for non-compliance.

1.3''Objective'''The objective guiding the development of this practice is to facilitate standardized transaction screens.

1.3.1''Note of Caution'''The user should be cautious in applying this practice to properties with known current or historical handling of chemicals of concern. See Note 1.

1.3.2''Potentially Appropriate Uses'''This practice may be especially appropriate for properties in rural, non-industrial, or undeveloped locations or, subject to the criteria of a lending institution, in connection with a financing of properties that are expected to have few environmental concerns.

Note 1:''In general, a transaction screen assessment is not suitable for purposes of evaluating environmental conditions of a property having activities that use, handle, store, or dispose of large volumes of chemicals, either currently or in the past. Such activities include, but are not limited to, manufacturing, vehicle fueling, dry cleaning, metal plating and finishing, circuit board manufacturing, junkyard, and landfill activities which would prompt the need for further inquiry. Refuting the presumption of a potential environmental concern on such properties normally requires the specialized knowledge and experience of an environmental professional completing a detailed environmental assessment such as a Phase I Environmental Site Assessment.

1.4''Considerations Beyond the Scope'''The use of this practice is strictly limited to the scope set forth in this section. Section 9 of this practice identifies, for informational purposes, certain environmental conditions (not an all-inclusive list) that may exist on a subject property that are beyond the scope of this practice but may warrant consideration by parties to a commercial real estate transaction. The need to include an investigation of any such conditions in the scope of services should be evaluated based upon, among other factors, the nature of the subject property and the reasons for performing the assessment (for example, a more comprehensive evaluation of business environmental risk) and should be agreed upon as additional services beyond the scope of this practice prior to initiation of the Transaction Screen Process.

1.5''Organization of This Practice'''This practice has several parts and one appendix. Section 1 is the Scope. Section 2 refers to other ASTM standards in the Referenced Documents. Section 3, Terminology, has definitions of terms not unique to this practice, descriptions of terms unique to this practice, and acronyms. Section 4 is Significance and Use of this practice. Section 5 is the Introduction to the Transaction Screen Process. Section 6 sets forth the Transaction Screen Questionnaire itself. Sections 7 and 8 contain the Guide to the Transaction Screen Questionnaire and its various parts. Section 9 provides additional information regarding non-scope considerations. See 1.4.

1.6''This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and determine the applicability of regulatory limitations prior to use.

1.7''This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

 

Document History

  1. ASTM E1528-22

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    Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process

    • Most Recent
  2. ASTM E1528-14e1


    Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process

    • Historical Version
  3. ASTM E1528-14


    Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process

    • Historical Version
  4. ASTM E1528-06


    Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process

    • Historical Version
  5. ASTM E1528-00


    Standard Practice for Environmental Site Assessments: Transaction Screen Process

    • Historical Version
  6. ASTM E1528-96


    Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process

    • Historical Version