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.
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.
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.
