Gulf States Transmission Corporation
Original Volume No. 1
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Effective Date: 06/01/1997, Docket: RP97-174-001, Status: Effective
Substitute First Revised Sheet No. 47 Substitute First Revised Sheet No. 47 : Effective
Superseding: First Revised Sheet No. 47
GENERAL TERMS AND CONDITIONS
7. PAYMENTS (Continued)
(b) Failure to Pay
Should Shipper fail to pay all of the amount of any invoice for
natural gas delivered as herein provided when such amount is due, interest on
the unpaid portion of such amount shall accrue at the rate equal to the
interest rate established from time to time by the FERC pursuant to Section
154.67(c)(2)(iii)(A) of its Regulations.
Such interest shall accrue on unpaid amounts beginning on the payment
due date of Transporter's statement and shall terminate when such statement is
(c) Prior Period Adjustments
Prior period adjustment time limits should be 6 months from the date
of the initial transportation invoice and 7 months from date of initial sales
invoice with a 3-month rebuttal period, excluding government-required rate
changes. This standard shall not apply in the case of deliberate omission or
misrepresentation or mutual mistake of fact. Parties' other statutory or
contractual rights shall not otherwise be diminished by this standard.
Prior period adjustments are reported by production date, but they do
not have to be invoiced separately by production month - nor is each
production month a separate paper invoice page.
Indicate paid amount on prior period adjustments on the statement of
In the event an error is discovered in the amount invoiced in any
statement rendered by Transporter, such error shall be adjusted within 30 days
of the determination thereof; provided that claim therefore shall have been
made within 60 days from the date of discovery of such errors but in any event
within 12 months from the date of payment.
If invoice is in dispute, pay portion not in dispute and provide
documentation identifying basis for the dispute.
(e) Delayed Invoices
If rendition of an invoice by Transporter to Shipper is delayed
beyond the date specified in Section 6 of these General Terms and Conditions,
Shipper shall pay such invoice within 10 days after rendition thereof.