Liberty Gas Storage, LLC

Original Volume No. 1

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Effective Date: 04/15/2007, Docket: RP07-357-000, Status: Effective

Original Sheet No. 137 Original Sheet No. 137 : Effective

 

GENERAL TERMS AND CONDITIONS

14.2 Application of Payments for Released Capacity. Payments to Liberty by a

Replacement Customer for released capacity shall be applied as follows: (i)

Liberty shall retain amounts equal to the Replacement Customer's usage charges;

(ii) Liberty will credit the balance to reservation charges due from the

Replacement Customer; and (iii) Liberty shall remit the remaining balance, if

any, or shall charge any balance due, to the Replacement Customer, in

accordance with Section 4.10 of the General Terms and Conditions of this FERC

Gas Tariff. If any balance due from the Replacement Customer remains unpaid,

the outstanding balance will then be billed to the Releasing Customer, provided

that the Releasing Customer is only liable to the extent of the reservation

charges specified in the applicable Storage Service Agreement and corresponding

Rate Schedule.

14.3 Payment. Customer shall pay Liberty by wire transfer the full amount

reflected on the invoice within fifteen (15) days of the date of the invoice.

If the fifteenth (15th) day shall fall upon a weekend or legal holiday, then

such payment shall be made on the last regular Business Day prior to such

fifteenth (15th) day. Party making payment should submit supporting

documentation; party receiving payment should apply payment per supporting

documentation provided by the paying party; and if payment differs from

invoiced amount, remittance detail should be provided with the payment except

when payment is made by electronic funds transfer (EFT), in which case, the

remittance detail is due within two Business Days of the payment due date.

14.4 Billing Error. If an error is discovered in any billing, such error

shall be adjusted within thirty (30) days of the determination thereof. If a

dispute arises as to the amount payable in any invoice rendered hereunder,

Customer shall nevertheless pay when due the amount not in dispute under such

invoice. Such payment shall not be deemed to be a waiver of the right by

Customer to recoup any overpayment, nor shall acceptance of any payment be

deemed to be a waiver of the right by Customer to recoup any overpayment, nor

shall acceptance of any payment be deemed to be a waiver by Liberty of any

underpayment. In the event Customer fails to forward the entire undisputed

amount due to Liberty when same is due, interest on the unpaid portion shall

accrue at the same rate of interest and in the same manner as prescribed for

pipeline refunds as set forth in Section 154.501(d) of the Commission's

regulations under the Natural Gas Act from the date such payment is due until

the same is paid. If Customer's failure to pay the undisputed portion of any

invoice rendered hereunder continues beyond thirty (30) days after the due date

of such invoice, then Liberty, in addition to all other legal remedies

available to it, shall have the right and option to suspend further deliveries

of Gas until such default shall have been cured. If Customer's failure to pay

the undisputed portion of any invoice rendered hereunder continues beyond sixty

(60) days after the due date of such invoice, then Liberty, in addition to all

other legal remedies available to it, shall have the right and option to terminate

service hereunder.