A standardized contract or standard offer is a process used throughout the electric utility industry to simplify the contracting process for renewable energy products. One example of a standard offer is MCE’s FIT Plus power purchase contract. Standard offers typically specify participatory requirements and contract documents that may not be negotiated by either party (the buyer or seller). To the extent that prospective participants are able to satisfy all applicable participatory requirements (without exception), the sponsoring utility will execute a power purchase contract (the standardized contract), creating a long-term supplier relationship with the seller. Smaller-scale project developers/owners may benefit from these processes by eliminating the need for prolonged negotiating efforts, related legal and administrative expenses, and delayed development timelines.