Re: Weather Confirms

Sara and Jason:
Shari's response to the message that I sent to you.
Carol
----- Forwarded by Carol St Clair/HOU/ECT on 06/01/2000 11:20 AM -----

Shari Stack
06/01/2000 11:19 AM

To: Carol St Clair/HOU/ECT@ECT
cc:
Subject: Re: Weather Confirms

I don't see a problem with this since the language is standard in most of our
confirms. One thing though - did the revised Fallback Reference Weather
Station language get finalized? I was working with Dave Kistler on this and
have not heard anything from him on this in over a month. You might check w/
him or Mark Tawney to make sure that we include the most recent wording.

One last query - how is the Confirm Desk going to know whether we have
included the language as part of the ISDA Master? They also need to keep in
mind that with some CP's, such as American Re - we have agreed special
wording with them and so will have to continue using the longer version of
confirmation.

S

Carol St Clair
06/01/2000 10:45 AM

To: Shari Stack/HOU/ECT@ECT
cc:
Subject: Weather Confirms

Shari:
The confirms desk has asked us to think about a way that we could shorten the
confirms that are sent out under Master Agreements by amending each Master to
include definitions/provisions that are common to all confirms. Below is
what I have come up with. Do you see any problems with this?
Carol
----- Forwarded by Carol St Clair/HOU/ECT on 06/01/2000 10:43 AM -----

Carol St Clair
06/01/2000 10:35 AM

To: Sara Shackleton/HOU/ECT@ECT, Jason Peters/Corp/Enron@Enron
cc:
Subject: Weather Confirms

Sara and Jason:
Here are my initial thoughts on how we can possibly shorten the weather
confirms that are done under a Master Agreement. It seems like we could
amend the Masters to include the following definitions which seem to be used
in each conform:

Payment Date
NCDC
NWS
HDD
CDD
The Fallback Reference Weather Station procedures - the confirm would
identify just the Fallback Reference Weather Station
Data Sources

Let me know what you think.

Carol

Alos, is it necessary to specify bank account information if that is already
set forth in the Master?