Enron Mail

From:susan.scott@enron.com
To:mary.miller@enron.com
Subject:daily firm on TW
Cc:
Bcc:
Date:Thu, 9 Mar 2000 03:44:00 -0800 (PST)

The Commercial Group has asked whether they can sell daily firm for longer
than a 3-month period. This phrasing is of course misleading; TW's daily
firm contracts are always for a term of just one day, but renew for
consecutive one-day terms unless terminated. The discount letter, on the
other hand, grants a discounted rate for each of the one-day terms for a
certain period of time (typically one month). Steve Harris wants to be able
to "sell daily firm for a one-year period." In contractual terms all this
would mean is that the contract is for renewabable one-day terms (as usual),
and the discount applicable to such terms would be effective for one year. I
see no problem with this, do you? (Apparently the current perception in
marketing is that regulatory/legal was limiting daily firm to a 3-month
period.)