Venice Gathering System, L. L. C.

Original Volume No. 1

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Effective Date: 01/01/1998, Docket: CP97-533-002, Status: Effective

Original Sheet No. 143 Original Sheet No. 143 : Effective

 

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

13.12 Prequalification of Credit Worthiness

 

All parties desiring to bid on firm capacity offered

by a Releasing Shipper and all Prearranged Replacement

Shippers must meet VGS' credit worthiness requirements and

be prequalified before bidding on any Offer To Release

Capacity. All parties desiring to bid on firm capacity

offered by a Releasing Shipper shall submit to VGS at least

five (5) business days prior to the date on which bids for

the firm capacity are to be received, credit information

sufficient for VGS to determine the party's credit

worthiness, unless VGS agrees it has already determined the

bidder to be credit worthy or to have suitable credit on

file with VGS. A bidder's credit worthiness shall be

assessed in accordance with the terms of Subsection 12.5 of

the General Terms and Conditions. A party that does not

qualify as a credit worthy bidder is ineligible to bid on

capacity. After VGS has determined a bidder credit worthy

and eligible to bid, VGS will issue a Bidder

Prequalification Number to the bidder. Once a bidder is

issued a Bidder Prequalification Number it is not necessary

for that bidder to resubmit credit information for

prequalification, except as requested by VGS from time to

time.

 

In the case of releases not subject to bidding, the

Prearranged Replacement Shipper must prequalify at least

five (5) business days prior to VGS' nomination deadline for

transportation using the released capacity. In all other

respects, the terms and conditions applicable to bidders

also apply to the Prearranged Replacement Shippers who have

not otherwise complied with the above requirements.