Schedule A2 - Transaction Confirmation (Large Commercial).pdf
PDF 256 KB Posted
- Solicitation number
- RFP 171 180000000077 3
- Issued by
- Michigan
About this file
This is a Transaction Confirmation document for the State of Michigan's Gas Customer Choice program, administered through MiDEAL (Michigan Domestic Energy Alliance), establishing a fixed-price natural gas supply agreement between a seller and a large commercial buyer with annual aggregate usage exceeding 500 Mcf. The agreement specifies a fixed price per Mcf for natural gas delivery through the applicable utility's delivery system, with an effective date and end date to be completed by the contracting parties. The contract establishes an initial term with the option to continue on a month-to-month basis thereafter, cancelable without penalty after the initial term expires. Buyers retain the right to terminate participation at any time during the initial contract period, subject to termination fees calculated based on projected future volumes and the difference between the contract price and the market price as measured by New York Mercantile Exchange (NYMEX) settlement prices plus basis costs. Customers are afforded a 14-day unconditional cancellation period from the contract execution date.
The agreement establishes a fixed price structure for natural gas supply with termination fees compensating the seller for volumes secured but not delivered to the buyer. A good faith estimate of the termination fee is provided to the buyer at the time of execution, though this amount is subject to change based on fluctuations in buyer usage and market gas prices. The transaction confirmation requires execution by legally authorized representatives of both the seller and the MiDEAL member buyer, with the buyer required to provide facility listing information including DTE account numbers or Consumer POD numbers and service addresses. All terms are binding unless disputed in writing within two business days of receipt, unless otherwise specified in the underlying Base Contract between the parties.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| Instructions To Bidders AD1.pdf | ||
| Standard Contract Terms.pdf | ||
| Schedule A1 - Transaction Confirmation (Small Commercial).pdf | ||
| Addendum 1 Instructions.pdf | ||
| Addendum 2 Q & A.pdf | ||
| Vendor Questions Worksheet.docx | DOCX document |
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Text version
Transaction Confirmation – Schedule A2 Gas Customer Choice - Sellers Name
FIXED Price Program (Large Commercial with annual aggregate usage over 500 Mcf)
State of Michigan
Date:
Contract Number#:
Vendor ID Number:
This Transaction Confirmation is subject to the Base Contract between Seller and Buyer dated . The terms of this Transaction Confirmation are binding unless disputed in writing within 2 Business Days of receipt unless otherwise specified in the Base Contract.
SELLER:
Company Name.
Street Address City, State, ZIP
Attn:
Phone:
Toll Free Number:
Fax:
E-mail:
BUYER:
MiDEAL Member Street Address City, State, ZIP
Attn:
Phone:
Fax:
Contract No. SOM Contract # E-mail:
Fixed Price per Mcf.
Effective Date ________________ End Date ________________
Est. Annual Consumption__________
Utility:
Termination: Buyer has the right to terminate participation at any time, provided, however that if Buyer elects to terminate prior to the expiration of this Transaction, it shall pay to Seller a “Termination Fee”. The Termination Fee shall compensate the Seller for volumes secured by the Seller on Buyer’s behalf and not delivered to Buyer. The Termination fee shall be calculated by multiplying the projected future volume (based on Sellers actual historical consumption) the difference in the per Mcf price in this Schedule and the “Market Price”.
Market Price shall be the average of the New York Mercantile Exchange (NYMEX) contract settlement price plus basis cost for each month remaining in this agreement.
Special Conditions:
This transaction confirmation may continue after initial term expiration on a month-to-month basis, cancelable at any time without penalty.
I acknowledge that I am the account holder or Legally Authorized Person to execute a contract and legally bind the business in this Transaction. I am switching the gas Supplier for this commercial account to Seller. I understand that gas purchased for this commercial account by Seller will be delivered through Utility name delivery system.
The legally authorized person to execute a contract and legally bind the business in this transaction has 14-days after today to cancel this contract for any reason through written or verbal notification to Seller.
__________________ I agree to waive my 14 day right to cancel this transaction (Customers Initials)
If Buyer terminated this transaction today, and if the unconditional cancellation period did not apply, based on the current gas prices and Buyers historical usage, a good faith estimate of Buyers Termination Fee would be $_____________. This Termination Fee is subject to change as Buyers usage and market price of gas fluctuate.
Seller:
By:
Title:
Buyer: MiDEAL Member
By:
Title:
Facility Listing
DTE Account #/Consumers POD # Service Address Service City
*Service Address as it appears on the utility invoice.
File details come from the government source that posted it. Updated .