The Verification Protocol is meant to provide standardized, specific guidance on the review and assessment of credit and debit projects under the approved currencies described in Version 1.0 of the General Crediting Protocol. The ecosystem credit accounting system requires third party verification of all projects. Third party verification is defined as an independent expert assessment of the accuracy and conformity of a Project Developer’s Credit Estimate with agreed upon criteria, free of material misstatements and conforming to accounting and credit generation standards. To do this, information should be complete (project eligibility, baseline information, proposed actions, credit calculations, and protections of credit quality), consistent (comparable data over time), accurate (findings should be repeatable), and transparent.

Once these core verification activities are completed, the verifier can complete a Verification Report that contains a summary which will be available to the public, an opinion on the credit estimates, and a log of activities and findings to the Market Administrator. A third party verifier must demonstrate the means to accept the standard liability of professional services contractors as determined in the Verification Services Agreement signed between the verifier and the Project Developer. Verifiers bear no liability for project implementation or project performance.