Vector Pipeline L.P.

Original Volume No. 1

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Effective Date: 01/01/2009, Docket: RP09-111-000, Status: Effective

Sixth Revised Sheet No. 125 Sixth Revised Sheet No. 125

Superseding: Fifth Revised Sheet No. 125

 

13. PAYMENTS

 

1. All payment for invoices due to Transporter by Shipper shall be

made to a depository designated by Transporter via electronic

funds transfer on or before the Payment Due Date. Pursuant to

NAESB Standards 3.3.17 and 3.3.18, party making payment shall

submit supporting documentation; party receiving payment shall

apply payment per supporting documentation provided by the paying

party, and if payment differs from the invoiced amount, remittance

detail shall be provided with the payment, except when payment is

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

remittance detail is due within 2 Business Days of the Payment Due

Date. Invoice number(s) shall be identified on all payments. If

presentation of an invoice to Shipper is delayed after the 9th

Business Day of the month, the Payment Due Date shall be extended

by an equal number of Business Days, unless Shipper is responsible

for such delay.

 

2. Should Shipper fail to pay all of the amount of any invoice as

herein provided on or before the Payment Due Date, Shipper shall

pay a charge for late payment which shall be included by

Transporter on the next regular monthly bill rendered to Shipper

under this section 13. Such charge for late payment shall be

determined by multiplying (a) the unpaid portion of the invoice,

by (b) the ratio of the number of Days from the Payment Due Date

to the date of actual payment to 365, by (c) the interest rate

determined in accordance with Section 154.501(d) of FERC's

regulations. If such failure to pay continues for 30 Days after

the Payment Due Date, Transporter, in addition to any other remedy

it may have under the Transportation Agreement, may terminate the

Transportation Agreement and/or suspend further delivery of Gas

without further notice. Transporter may waive any interest due

hereunder for late payment to the extent Transporter determines

that extenuating circumstances caused late payment of an invoice

by a Shipper.

 

3. In the event an error is discovered in the amount billed in any

statement rendered by Transporter, such error shall be adjusted

within 30 Days of the determination of the error; provided that

any claim therefore shall have been made within 60 Days of

discovery of such error and, in any event, within 12 months from

the date of the statement claimed to be in error. Billing errors

shall be corrected as follows:

 

(a) Where Shipper has been overcharged and has paid the

statement, in the event the overcharge is not the result of

Transporter's negligence or bad faith, fraud or willful

misconduct, the amount of the overpayment will be refunded

to Shipper without interest, provided the overpayment is

refunded within 30 days of the determination of the error.

Overpayments not refunded within 30 days will be subject to

interest charges at the interest rate determined in

accordance with Section 154.501(d) of FERC's regulations

from the date of the overpayment to the date of the refund.

Where the refund is provided to Shipper by way of credit on

another Transporter invoice, the overpayment will be deemed

to have been refunded on the date the credited invoice was

received by the Shipper.