Destin Pipeline Company, L.L.C.
Original Volume No. 1
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Effective Date: 09/01/1998, Docket: CP96-655-003, Status: Effective
Original Sheet No. 117 Original Sheet No. 117 : Effective
GENERAL TERMS AND CONDITIONS
Section 18.6(g) (continued)
(1) the bid (or bidder) does not comply with all of the
terms and conditions and deadlines of this Section
(2) the bid submitted exceeds the bidder's preapproved
credit term or limits; or
(3) the bid is for capacity at Delivery and Receipt
Points other than those points specified in the Offer
or those Delivery Points within the capacity path of
the Delivery Points offered by the RELEASING SHIPPER;
(4) the bid does not meet the minimum terms of the
RELEASING SHIPPER's Offer; or
(5) the bidder has not removed the contingency by the
deadline set forth in the Offer.
(h) The Best Bid Determination: All bids deemed to be eligible
following the COMPANY's initial review pursuant to Section
18.6(g) above shall be reviewed in determining the best bid.
The best bid shall be determined by COMPANY pursuant to the
following criteria: The eligible bids will be evaluated by
COMPANY by multiplying the price bid times the volume bid.
Bids for a term of more than one (1) month that vary in price
or term shall be discounted to present value based on
currently effective Commission interest rates or such other
published, objective financial measure as posted by COMPANY
in advance of the offer/bid cycle. This formula will
generate a revenue number for comparison of the bids and the
bid producing the most revenue shall be determined to be the
best bid. If the RELEASING SHIPPER's Offer allows the