Venice Gathering System, L. L. C.

Original Volume No. 1

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Effective Date: 10/01/2002, Docket: RP02-417-000, Status: Effective

Third Revised Sheet No. 179 Third Revised Sheet No. 179 : Effective

Superseding: Second Revised Sheet No. 179

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

Standard 5.3.22: For less than maximum rate transactions only, converting

daily rate to monthly rate is accomplished by multiplying the daily rate times

the number of days in the rate period, dividing the result by the number of

months in the rate period; taking the remainder out to 5 decimal places, and

rounding up or down to VGS' specified decimal place. Converting a monthly rate

to a daily rate is accomplished by multiplying the monthly rate by the number

of months in the rate period; dividing the result by the number of days in the

rate period; taking the remainder out to 5 decimal places, and rounding up or

down to VGS' specified decimal place.

 

Standard 5.3.25: A releasing shipper may not specify an extension of the

original bid period or the pre-arranged deal match period, without posting a

new release.

 

Standard 5.3.30: The Upload to Pipeline of Prearranged Deal (UPPD) bidder

confirmation and validation process will support the association of a

replacement capacity contract with another contract for balancing or related

purposes. The support for this process between parties will be on a mutually

agreeable basis.

 

Standard 5.3.31: VGS will accept and process uploads of capacity release

offers from releasing shipper(s), provided the offer is received by VGS at its

designated site by 11:45 AM Central Clock Time on a Business Day. Such

received offer, if determined to be valid, should be posted as an Offer and

should be available for bidding by 12:00 PM Central Clock Time (the normal

posted-by deadline and start of bidding time) on that Business Day or the

Releasing Shipper's specified Business Day (if later than the received

Business Day).

 

Standard 5.3.32: VGS will accept and process uploads of capacity release bids

from potential shipper(s), provided that the bid is time-stamped as leaving

control of the bidder no later than 1:00 PM of the applicable deadline day and

is received by VGS at its designated site by 1:15 PM. Such timely bid, if

determined to be valid, should be evaluated by VGS for the purpose of

identifying the winning bidder associated with the Offer upon which the bid

was made.

 

Standard 5.3.33: When VGS receives an upload of an offer or a bid in

association with a deadline, VGS will process such offer or bid (as

applicable) and post valid offers or bids (as applicable) for review within

fifteen minutes; and, in the event such document is not valid, respond with

the applicable validation document to the applicable submitting party within

fifteen minutes. When VGS receives an upload of an offer or a bid not in

association with a deadline, VGS will process and post for review valid

offer(s) or bid(s) (as applicable) that are received prior to one quarter hour

period by the end of the next succeeding quarter hour period; and, in the

event such document is not valid, respond with the applicable validation

document to the applicable submitting party by the end of the next succeeding

quarter hour period. The quarter hour periods are on the hour, fifteen

minutes after, thirty minutes after and forty-five minutes after an hour.

 

VGS will keep any delays of its nightly processing and maintenance of

validation documents occurring outside its business hours to a minimum. The

normal schedule will be resumed at the earliest opportunity and no later than

the start of the next Business Day.