Sea Robin Pipeline Company, LLC

Second Revised Volume No. 1

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Effective Date: 10/01/2007, Docket: RP07-683-000, Status: Effective

First Revised Sheet No. 180 First Revised Sheet No. 180 : Effective

Superseding: Original Sheet No. 180

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

 

15. STATEMENTS AND PAYMENTS (Continued)

 

cycle, or may take such other action as Sea Robin deems

reasonable under the circumstances to protect Sea Robin's

interests. Notwithstanding the foregoing, however, Sea Robin

will not suspend performance of service if Shipper elects to

provide one of the following in an amount equal to three (3)

months of service assuming full contract quantity: (1) an

advance deposit; (2) a Standby Irrevocable Letter of Credit;

(3) security interest in collateral found to be satisfactory

to Sea Robin; or (4) a guaranty, acceptable to Sea Robin, by

another person or entity which satisfies the credit appraisal.

Sea Robin may also require Shipper at any time to supply Sea

Robin with credit information including, but not limited to

three (3) credit references, Shipper's most recent audited or

otherwise verified financial statement, annual report and Form

10-K or alternate credit information sufficient to demonstrate

whether Shipper is able to meet its financial obligations

under the Service Agreement. If Shipper's credit standing

ceases to meet Sea Robin's credit requirements during the

period of service, then Sea Robin has the right to require

security as specified above. Sea Robin shall give Shipper

five (5) days to provide security for one month's service and

thirty (30) days to provide security for the next three (3)

months of service. Should Shipper fail to provide the

collateral as requested, Sea Robin shall give Shipper and the

Commission thirty (30) days notice prior to termination of

Shipper's Service Agreement.

 

15.3 Adjustment of Errors

 

In the event that an error is discovered in the invoiced amount

hereunder, such error shall be adjusted within thirty (30) days

of the determination thereof, provided that claim therefore

shall have been made in writing. Prior period adjustment time

limits should be six (6) months from the date of the initial

transportation invoice and seven (7) months from date of

initial sales invoice with a three (3) month rebuttal period,

excluding government required rate changes. This standard

shall not apply in the case of deliberate omission or

misrepresentation or mutual mistake of fact. Parties' other

statutory or contractual rights shall not otherwise be

diminished by this standard.