A Transaction Screen is a limited environmental review of a property, with a scope of work intended to be less than that of a Phase I Environmental Site Assessment.

The Transaction Screen must be completed in general accordance to the ASTM Standard E-1528-2006, but does not necessarily require the judgment of an Environmental Professional (EP) as defined in Phase I ESA ASTM Standard E-1527-05. The practice is designed to identify Potential Environmental Concerns ( PECs) in connection with real estate, with the intention of defining a reasonable level of inquiry.

The ASTM Standard E-1528 was revised in February 2006, and as a result of this revision, the Standard now states that if the driving force behind the environmental due diligence is a desire to qualify for CERCLA landowner liability protection, this practice should not be applied and a Phase I ESA must be completed which meets the new AAI/ASTM 1527-05 standards.

The Transaction Screen (i.e. 2006 revision) process includes the following tasks:

• A site reconnaissance
• The completion of the ASTM Transaction Screen Questionnaire
• Obtaining/reviewing environmental databases for the subject property an nearby surrounding areas
• Review of reasonably ascertainable historic Sanborn Fire Insurance maps, and
• Review of reasonably ascertainable local street directories.

To complete the questionnaire, a series of questions are answered by (a) the owner, (b) occupants (if applicable), and (c) the preparer of the Transaction Screen.

The results of the ASTM Transaction Screen Process, should allow the User (or the consultant preparing the Transaction Screen) to conclude either (a) that no further inquiry is needed to assess the potential for identifying any PECs, or (b) that further inquiry is required to assess the environmental condition of the property.

If, upon completion, no evidence of PECs is identified and no additional inquiry is deemed necessary, then no more investigation is necessary.

If, however, after completion of the required Transaction Screen tasks, additional inquiry is necessary to determine if PECs exist, then the User should obtain such information to make a determination as to the presence of PECs; or proceed to a full AAI/ASTM-05 compliant Phase I ESA.

The turn around time to complete an ASTM Standard Transaction Screen is 5 to 7 business days.