Cove Point LNG Limited Partnership
Second Revised Volume No. 1
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Effective Date: 07/01/2002, Docket: RP00-486-001, Status: Effective
Original Sheet No. 128B Original Sheet No. 128B : Effective
GENERAL TERMS AND CONDITIONS
10. RELEASE AND ASSIGNMENT OF SERVICE RIGHTS (Continued)
(1) Potential Assignees shall submit bids for released capacity which comport with
the methodology of the release notice stated in ten thousandths of one dollar
($0.0000) per Dth per month for reservation charges and for all demand
surcharges, or in hundredths of one cent (0.00¢) per Dth for one-part volumetric
rate bids or a percent of maximum, accompanied by a valid Bid for Capacity
Release Form in the form included in this Tariff. Bids submitted for a permanent
release shall be submitted on a valid Request for Service Form as set forth in
Section 3 (Requests for Service) of the General Terms and Conditions. Such bids
shall (i) be electronically submitted to Operator's EBB and displayed when
complete (without revealing the identity of the bidder) during the bidding
period, (ii) be submitted by potential Assignees in a manner prescribed by
Operator, and (iii) be in accordance with Releasor's specifications, and
specifically reference the capacity for which the bid is being submitted.
(2) A potential Assignee responding to the posting of a Release Notice shall be
permitted to bid a contingent bid, provided, however, that the Releasor may
reject that bid on the basis of the contingency.
(3) Bids shall be submitted by potential Assignees without bidders knowing the
identities of other bidders. A bidder may submit multiple bids, or may withdraw
its bid during the posting period established in Section 10(b)(3). A potential
Assignee which has withdrawn its bid may submit a new bid only if it is for a
higher economic value than the withdrawn bid.
(4) All bidders must meet Operator's creditworthiness standards, as described at
Section 3 (Requests for Service) and Section 6 (Operating Conditions) of the
General Terms and Conditions. Any potential Assignee must demonstrate its
creditworthiness to Operator, and may do so in advance of bidding by submitting a
request for service to Operator and furnishing the data required by Section 3.