“Conditional Standover Order” Tax Reserve Certificates (TRCs) serve as a type of collateral that taxpayers must furnish to cover deferred tax payments during objections or appeals against assessments. These TRCs are exclusively issued in a physical paper format. Depending on the outcome of the objection or appeal, the amount purchased will be used to settle the tax in dispute or repaid to the taxpayer, in which case simple interest will be paid limited to the principal amount.