Under applicable rules, the Renewable Energy (RE) Registrar is mandated to issue a Preliminary Renewable Energy Certificate (REC) Statement no later than forty-five (45) calendar days after the end of an RPS Compliance Period, and a Final REC Statement no later than ten (10) working days after the last day of an RPS Compliance Period, while RPS Mandated Participants are required to surrender their RECs within one (1) year from the last day of an RPS Compliance Period.