Garden Banks Gas Pipeline, LLC

Original Volume No. 1

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Effective Date: 06/01/1997, Docket: RP97-310-002, Status: Effective

First Revised Sheet No. 117 First Revised Sheet No. 117 : Effective

Superseding: Original Sheet No. 117

GENERAL TERMS AND CONDITIONS

 

 

A bidder may withdraw its bid on an Offer at

any time prior to the end of the bid period,

but any subsequent bids submitted by the

bidder on that Offer during the bid period

must be equal to or higher than the bidder's

previous bid(s).

 

(h) Transporter's Initial Review: Upon receipt of all

bids, Transporter shall engage in an initial review

to determine whether a bid will be deemed eligible

for consideration. Any bid deemed ineligible

pursuant to this subsection 19.6(h) shall be

eliminated from consideration. A bid shall be

deemed ineligible if:

 

(1) the bid (or bidder) does not comply with all

of the terms and conditions and deadlines of

this Section 19.

 

(2) the bid submitted exceeds the bidder's pre-

approved credit term or limits; or

 

(3) the bid is for capacity at Delivery and

Receipt Point(s) other than those points

specified in the Offer; or

 

(4) the bid does not meet the minimum terms of

the RELEASING SHIPPER's Offer; or

 

(5) the bid contains a contingency that is not

allowed by the Offer or the bidder has not

removed the contingency by the deadline set

forth in the Offer.

 

(i) The Best Bid Determination: All bids

deemed to be eligible following

Transporter's initial review pursuant

to subsection 19.6(h) shall be reviewed

in determining the best bid. The best

bid shall be determined by Transporter

pursuant to the economic criteria for

determining the best bid set forth in

the RELEASING SHIPPER's Offer. If the

Offer does not specify the economic

criteria,

 

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