Destin Pipeline Company, L.L.C.

Original Volume No. 1

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Effective Date: 09/01/1998, Docket: CP96-655-003, Status: Effective

Original Sheet No. 117 Original Sheet No. 117 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

Section 18.6(g) (continued)

 

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

terms and conditions and deadlines of this Section

18; or

 

(2) the bid submitted exceeds the bidder's preapproved

credit term or limits; or

 

(3) the bid is for capacity at Delivery and Receipt

Points other than those points specified in the Offer

or those Delivery Points within the capacity path of

the Delivery Points offered by the RELEASING SHIPPER;

or

 

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

RELEASING SHIPPER's Offer; or

 

(5) the bidder has not removed the contingency by the

deadline set forth in the Offer.

 

(h) The Best Bid Determination: All bids deemed to be eligible

following the COMPANY's initial review pursuant to Section

18.6(g) above shall be reviewed in determining the best bid.

The best bid shall be determined by COMPANY pursuant to the

following criteria: The eligible bids will be evaluated by

COMPANY by multiplying the price bid times the volume bid.

Bids for a term of more than one (1) month that vary in price

or term shall be discounted to present value based on

currently effective Commission interest rates or such other

published, objective financial measure as posted by COMPANY

in advance of the offer/bid cycle. This formula will

generate a revenue number for comparison of the bids and the

bid producing the most revenue shall be determined to be the

best bid. If the RELEASING SHIPPER's Offer allows the