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Transaction Screen Assessment

A Transaction Screen Assessment is a cost-effective environmental due diligence report. Also called an Environmental Transaction Screen, the Transaction Screen Assessment is essentially a scaled down version of the Phase I Environmental Site Assessment. Partner provides hundreds of Transaction Screens a year and is expert at evaluating and communicating the potential environmental liability of a site through these reports.

Scope of the Transaction Screen Assessment

The Transaction Screen scope of work includes a site visit, regulatory records review, key personnel interviews and limited historical research. Aside from the Phase I Environmental Site Assessment (ESA), the Transaction Screen Assessment is the only other environmental due diligence product that is governed by an ASTM Standard Practice. The ASTM standard for the Transaction Screen is 1528-06 Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process. Unlike the Phase I ESA, however, the Transaction Screen does not meet the requirements of the EPA’s All Appropriate Inquiry and will not offer the user protection from CERCLA liability.

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Frequently Asked Questions

A Transaction Screen Assessment typically involves reviewing available historical records, regulatory databases, and other sources of information to identify potential environmental concerns, such as past land uses, nearby hazardous waste sites, and regulatory compliance issues.

A Transaction Screen Assessment is less comprehensive than a Phase I ESA and typically involves a more limited review of historical records and regulatory databases. It may not include a site inspection or interviews with property owners and occupants, which are common components of a Phase I ESA.

The potential outcomes of a Transaction Screen Assessment include identifying recognized environmental concerns (RECs) that may warrant further investigation, providing the client with a preliminary assessment of environmental risks associated with the property transaction, and determining whether additional due diligence, such as a Phase I ESA, is necessary.

The suitability of a TSA depends on the specific property and risk tolerance. Consider a Phase I ESA for:

Properties with a history of commercial or industrial use.
Properties with a higher potential for environmental concerns.
Situations where a more thorough assessment is desired.

Always consult with a qualified environmental professional to determine if a TSA or a Phase I ESA is the right choice for your specific needs.

Digging Deeper

Transaction Screen as Part of Environmental Policy

Transaction Screen Assessment is often used by lenders, brokers and investors as part of a tiered approach to environmental risk management, along with other reports such as the Phase I Environmental Site Assessment (a more comprehensive report) and Environmental Desktop Reports (less comprehensive). The Transaction Screen offers a good value for evaluating environmental liability at a cost less than the Phase I ESA.

Many states require the use of such a risk assessment and have established guidelines regarding thresholds of various contaminants and a specific process for conducting a Human Health Risk Assessment.

The Small Business Administration’s (SBA) allows the Transaction Screen Assessment to be used as part of its environmental policy for SBA lenders.

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