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----- Forwarded by Elizabeth Sager/HOU/ECT on 10/05/2000 10:00 AM -----
"Patricia Young" <PYoung@eei.org< Sent by: bounce-contract-9369@ls.eei.org 10/04/2000 09:17 AM Please respond to "Wholesale Electric Contract Standardization Group" To: "Wholesale Electric Contract Standardization Group" <contract@ls.eei.org< cc: Subject: PLEASE RESPOND IMMEDIATELY The following Message was sent to members of Contract List Server, the EEI Contract Standization Mailing List. Andy Katz sent out the following message...We have had many undeliverables...I would appreciate your letting me know if you receive this message...thanks. Working Group Members: The drafting commitee met on September 15 to discuss the status of the Master Agreement and the agenda for the October 13 meeting at EEI's offices. The general consensus of the drafting committee is that the Master Agreement is sound and there is no need for revision to the base terms and conditions of version 2.1. Based on that meeting, the drafting committee would like to cover the following at the October 13 meeting : GETTING CONTRACT IN PLACE. The drafting committee believes that the number one priority is to get the Master Agreement used by more participants in the marketplace. We would like to hear from the working group about the status of the Master Agreement in their organizations and issues about the contract that are holding up its use. We will solicit suggestions on how to get wider acceptance of the Master Agreement. The drafting committee has thought of holding another workshop in late January to address implementation issues such as establsihing credit thresholds. STANDARDIZED SUPPLEMENTAL PROVISIONS. There are several areas not addressed in the base contract that are frequently used as customized supplemental provisions identified on many parties' cover sheets. The drafting committee identified the following as useful to develop as suggested optional supplemental provisions that could be used in negotiating a cover sheet with a counterparty: (1) the incorporation of prior transactions as being governed by the Master Agreement; (2) the use of the Master Agreement for electronic trading; (3) alternative dispute resolution mechanisms; (4) treatment of new taxes or changes in regulatory policy; (5) additional products (e.g. Western firm or CAISO energy); (6) agreements with respect to agency relationships; (7) "regulatory out" provisions; and (8) provisions involving "one-way" counterparty relationships, i.e. sales only or purchases only. The drafting committee will ask the working group to allow it to develop these provisions and once consensus on language is reached among the drafting committee members, they would be made available for downloading on the EEI website for use by the industry as suggested optional provisions. We will also discuss the ways to tie these provisions to the Master Agreement general terms. PROCEDURE FOR GETTING CONTRACT INTERPRETATION. The drafting committee will discuss ways to get answers about the contract disseminated quickly. One suggestion is to have a frequently asked questions section up on the EEI website. As a reminder, the meeting will be held from 10-4. Please contact me if you have any questions or comments about the agenda. If you plan to attend or need information about hotels or transportation, please contact Patricia Young at 202-508-5757 or pyoung@eei.org. Thank-you. Andrew S. Katz, Director Industry Legal Affairs Edison Electric Institute 701 Pennsylvania Avenue, N.W. Washington, D.C. 20004 Voice: 202-508-5616 Fax: 202-508-5673 e-mail: akatz@eei.org -----*** EEI - A Powerful Partner in a Competitive World sm ***----- You have received the above message as a subscriber to the EEI Contract Standization Electronic Mailing List: contract Your subscription address is listed as: [Elizabeth.Sager@enron.com] To stop receiving these messages, send a blank message to the list administrator: kSeaman@eei.org with the subject as: UNSUBSCRIBE You can reply to the EEI Contract List by using your email program's "ReplyTo" function, or by sending a message to the list administrator.
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