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Enron Mail |
Pursuant to our conversation, the different scenarios for trades in dispute
are (and may not be limited to) the following: Trade agreed Trade not booked No confirm sent Trade agreed Trade booked Killed on T/D No confirm sent Trade agreed Trade booked Killed after T/D No confirm sent Trade agreed Trade booked Trade killed Confirm sent Trade booked Trade disputed No Confirm sent Trade booked Trade disputed Confirm sent Examples: Scenario 1: the CP calls back one hour after the trade was agreed and states they now do not agree with the trade. Essentially, it could be disputed wether or not we had a trade, even though our tapes support our position. No impact on booking or Confirmation Desk. Scenarios 2 and 3 occur essentially the same as Scenario 1 with the exception that the trade is booked. Scenario 2 and 3 a different based on the pricing implication of a trade booked overnight. In both these scenarios, we should consider issuing a Termination Agreement which gives some reference to the details of the agreed transaction. Scenario 4 is the most straight-forward. An agreed trade, booked and Confirmed, we issue a Termination Agreement. Scenarios 5 and 6 are different from Scenarios 2 and 3 in that we have booked a trade based on our understanding, but OUR understanding of the terms was incorrect. The two scenarios are different in that in 5 a Confirmation is not sent. In 5, we should consider issuing a side letter stating that a trade was booked in error and no such trade exists. In 6 we should consider issuing a side letter stating the trade was booked AND the Confirmation was sent in error - and ask that they return the Confirmation.
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