Scg Pipeline Inc.
Original Volume No. 1
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Effective Date: 11/01/2003, Docket: RP03-611-000, Status: Effective
Original Sheet No.60 Original Sheet No.60 : Superseded
GENERAL TERMS AND CONDITIONS
(a) an advance deposit;
(b) a standby irrevocable letter of credit issued by a bank to Pipeline’s
(c) security interest in collateral found to be satisfactory to Pipeline; or
(d) a guarantee, acceptable to Pipeline, by another person or entity which
satisfies credit appraisal criteria set forth in Section 2.5.
If Shipper obtains credit approval by providing an advance deposit or other
credit instrument and then subsequently satisfies the credit criteria,
Pipeline shall return to Shipper any such advance deposit with interest. The
advance deposit, standby irrevocable letter of credit, security interest or
guarantee should at all times equal the amount equal to three Months of
reservation charges at the maximum applicable unit rate hereunder. Shipper
shall continue to provide such advance deposit or credit instrument for a
period of three Months following the termination of service, unless Shipper
pays all of the amounts of any invoices for service as reasonably determined
by Pipeline prior to that time.
Termination or suspension of service and a Service Agreement does not affect
the validity or requirement of a letter of credit or guarantee in effect at
the time service is terminated or suspended.
If Shipper’s or guarantor’s credit standing ceases to meet Pipeline's credit
requirements during the period of service, then Pipeline has the right to
require security or a deposit as specified herein. If security or a deposit
is not tendered in a timely period as reasonably determined by Pipeline, then
Pipeline is not required to continue service. If Shipper is unable to
maintain credit approval, the executed Service Agreement shall terminate as of
the first day of the Month following written notice to Shipper. Pipeline
retains the right to pursue additional remedies, enforce any rights and affect
any collection due to Pipeline.