Gulf Crossing Pipeline Company LLC

Original Volume No. 1

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Effective Date: 03/01/2009, Docket: RP09-303-000, Status: Effective

First Revised Sheet No. 1055 First Revised Sheet No. 1055

Superseding: Original Sheet No. 1055

 

GENERAL TERMS AND CONDITIONS

Section 16

(Continued)

 

(b) Offer Posting:

 

Unless a capacity release transaction qualifies for an

exemption from the bidding requirements, all capacity

release transactions are subject to posting and bidding

requirements. Offers subject to posting requirements,

including prearranged deals, will be posted upon receipt

unless the Releasing Customer otherwise specifies and such

request comports with the standard timeline set forth in

Section 16.4. A Releasing Customer may withdraw the

released capacity at any time prior to the close of the Bid

Period where no minimum bid has been submitted. Gulf

Crossing shall not be required to post a release notice on

the Internet Web Site which is incomplete.

 

(c) Bidding:

 

All bids for released capacity shall be entered on the

Internet Web Site by a Potential Customer prior to the

close of the open season Bid Period in accordance with the

Capacity Release Timeline. The information concerning each

bid shall include the rate, the volume or capacity, the

term of the bid and any other factors or conditions

required by the offer. This procedure shall also apply to

prearranged bids.

 

A Potential Customer shall have the opportunity during the

Bid Period to increase its bid through submission of

revised bids. Revised bids shall be posted on the Internet

Web Site and shall supersede a prior bid by the Potential

Customer. Revised bids may be submitted until the

expiration of the Bid Period. A Potential Customer may

also withdraw a bid prior to the end of the Bid Period.

 

If a bidder withdraws a bid, it is precluded from

submitting a lower bid for the released capacity. If a bid

is submitted contingent upon capacity being available on

another pipeline, such bid shall not be binding, unless and

until the contingency is removed.