Vector Pipeline L.P.

Original Volume No. 1

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Effective Date: 06/01/2010, Docket: RP10-678-000, Status: Effective

Fourth Revised Sheet No. 142 Fourth Revised Sheet No. 142

Superseding: Third Revised Sheet No. 142

 

5. Bidding for Transportation Rights

 

(a) Persons that desire to bid on released transportation rights

must pre-qualify with Transporter by entering into a

Released Transportation Agreement with Transporter and by

demonstrating creditworthiness, in the same manner and

subject to the same standards and procedures as required for

firm shippers under section 31 of these General Terms and

Conditions. The creditworthiness requirement shall be

continuing in nature in the same manner and to the same

extent as prescribed for firm shippers under section 31 of

these General Terms and Conditions. Transporter will waive

the creditworthiness requirement on a non-discriminatory

basis for Bidders on a Release Request, and permit them to

submit Bids, if the Releasor provides Transporter with a

guarantee satisfactory to Transporter of all financial

obligations of the Replacement Shipper under its Released

Transportation Agreement prior to the commencement of

service to the Replacement Shipper.

 

(b) Bidders pre-qualified pursuant to section 29.5 may submit

Bids during the Bidding Period applicable to a Release

Request. All bids must be submitted via QuickNom™. In

transmitting a Bid, Bidders recognize that such Bids will be

accessible by other Bidders through QuickNom™; provided that

QuickNom™ will be programmed such that upon submission, all

Bids will be assigned a Bid number and the identity of the

Bidder will not be revealed during the Bidding Period.

Bidding will be an iterative process in that a Bidder may

submit any number of Bids during the Bidding Period;

provided that each new submission of a Bid effects the

withdrawal of the previous one, such that a Bidder may not

have more than one Bid in contention for the capacity at the

same time. If a Bidder withdraws its Bid by resubmitting a

new one, such new Bid must be at a higher rate, (NAESB

Standards 5.3.13, 5.3.14, 5.3.15). Bids are binding until

written or electronic notice of withdrawal is received by

Transporter. Offers are binding until written or electronic

notice of withdrawal is received by Transporter. Bids

cannot be withdrawn after the bid period ends. Bids must

contain the information on the Bid Form set forth in this

Tariff, including:

 

(i) the identity of the Bidder (which will be concealed

during the Bidding Period);

 

(ii) the Transportation Agreement number of the Releasor

and the Release Request number to which the Bid

relates;

 

(iii) the bid rate(s) that the Bidder is willing to pay for

the released transportation rights, which shall be no

less than any minimum bid rate(s) specified in the

Release Request;