Mississippi Canyon Gas Pipeline, LLC

First Revised Volume No. 1

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Effective Date: 11/01/2009, Docket: RP10-12-000, Status: Pending

Second Revised Sheet No. 109 Second Revised Sheet No. 109

Superseding: Substitute First Revised Sheet No. 109

 

GENERAL TERMS AND CONDITIONS (cont'd)

 

14. BILLING AND PAYMENT

 

14.1 Billing:

 

Subject to the provisions of the applicable Rate Schedule and

Section 12 of these General Terms and Conditions, on or before the

ninth (9th) Business Day after the end of the month, Transporter

shall mail to Shipper a statement of the daily volumes and the Btu

content of the gas received for the account of Shipper for

transportation, the daily volumes and the Btu content of the gas

delivered to or for the account of Shipper, and the amount of

lost-and-unaccounted-for gas allocated to Shipper in the preceding

month. Transporter may furnish separate statements to Shipper

that include an account of any credits and/or penalty charges

accrued by Shipper. Billing units will be stated in Dekatherms.

Transportation invoices will state the net billing rate.

 

14.2 Payment:

 

Billing statements shall be deemed to be received by each Shipper

within three (3) Business Days after the date they are mailed by

Transporter. Shipper shall make payments to Transporter for the

services performed or charges levied hereunder during the

preceding calendar month by electronic bank transfer (i.e. wire

transfer, ACH transfer or other mutually acceptable transfer

method), at such address as Transporter may hereafter designate,

no later than ten (10) days after Shipper's receipt of the billing

statement. In the event the tenth day does not fall upon a

Business Day, payments shall be due the first Business Day

following the due date. Any amount due Shipper from Transporter

shall be paid in a like manner. All payments made by Shipper

shall include Transporter's invoice number(s) and supporting

documentation for purposes of matching the payment to the invoice.

If the payment differs from invoice amount, remittance detail

should be provided with the payment except when the payment is

made by electronic funds transfer (EFT), in which case, the

remittance detail is due within two Business Days of the payment

due date.

 

14.3 Interest on Unpaid or Overpaid Amounts:

 

Should Shipper fail to pay any amount when due, or if found to

have paid in excess of the amount ultimately due pursuant to the

resolution of a Good Faith Dispute (overpaid amount), interest on

the unpaid or overpaid amount shall accrue at a rate equal to the

lesser of the rate then set forth in Section 154.501 of the

Commission's Regulations or the highest amount allowed by law from

the date payment was due, pursuant to Section 14.2, or made until

payment to Transporter or refund to Shipper is made.