Iroquois Gas Transmission System, L.P.
FIRST REVISED VOLUME NO. 1
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Effective Date: 04/15/2010, Docket: RP10-489-000, Status: Effective
THIRD REVISED SHEET NO. 77 THIRD REVISED SHEET NO. 77
Superseding: SECOND REVISED SHEET NO. 77
14.3 Remedies For Nonpayment.
(a) Charge For Late Payment:
Should Shipper fail to pay any or all of the
amount of any bill as herein provided when such amount is
due, Shipper shall pay a Charge for Late Payment which shall
be included by Transporter on the next regular monthly bill
rendered to Shipper. Such Charge for Late Payment shall be
determined by multiplying (a) the unpaid portion of the bill,
by (b) the ratio of the number of days from the due date to
the date of actual payment to 365, by (c) the applicable rate
of interest calculated in accordance with Section 154.501(d) of
the Commission's regulations.
Transporter may waive the interest on a Late Payment
made within five Business Days of the due date where Shipper
has diligently paid its prior bills on time, and lateness in
payment is of a nonrecurring nature.
(b) Suspension Of Service:
If such failure to pay continues for thirty
(30) days after payment is due, Transporter, in addition to
any other remedy it may have under the Gas Transportation
Contract or any Park and Loan Service Contract, may, after any
required application to and authorization by the FERC, suspend
further transportation of