Garden Banks Gas Pipeline, LLC

Original Volume No. 1

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Effective Date: 05/10/2010, Docket: RP10-594-000, Status: Effective

First Revised Sheet No. 141 First Revised Sheet No. 141

Superseding: Original Sheet No. 141

 

GENERAL TERMS AND CONDITIONS

 

 

(6) If Shipper has an ongoing business relationship

with Transporter or any of its regulated

affiliates, and is in good standing with that

entity with no delinquent balances consistently

outstanding for services rendered previously to

Shipper, the ongoing business relationship will be

considered a positive credit reference for

establishing the Shipper's credit with Transporter.

 

(7) No significant collection lawsuits or judgments are

outstanding which would seriously reflect upon the

business entity's ability to remain solvent.

 

(8) The Shipper should designate up to two

representatives who are authorized to receive

notices regarding the Shipper's creditworthiness,

including requests for additional information,

pursuant to the applicable NAESB WGQ standards and

should provide to Transporter the email addresses

of such representatives prior to the initiation of

service. Written requests and responses should be

provided via email, unless otherwise agreed to by

the parties. The obligation of Transporter to

provide creditworthiness notifications is waived

until the above requirement has been met.

 

(b) If a Shipper fails to satisfy the credit criteria, such

Shipper may still obtain service hereunder if it elects

one of the following options:

 

(1) Payment in advance for three (3) months' service;

 

(2) A standby irrevocable letter of credit drawn upon a

bank acceptable to Transporter;

 

(3) Security interest in collateral provided by the

Shipper found to be satisfactory to Transporter; or