It has been a legal decision whether or not to use ISDA's.  Global's 
instruction from the North American legal department has been to populate the 
matrix with existing ISDA's for ALL online weather financial products and 
then Legal X's out weather, if appropriate.   Other geographic locations are 
also following specific legal instruction in populating the matrix.




   


From:  Sheri Thomas                                                           
  09/05/2000 08:49 AM	
	
	
	                           
	

To: Lisa Lees/HOU/ECT@ECT
cc: Dale Neuner/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT 
Subject: GTC's for weather

I don't think Frank looked at this on Friday...  

Dale - can you help Lisa out here?  
Karen - are you aware of this?

Thanks
Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 09/05/2000 08:44 
AM ---------------------------
From: David Forster@ENRON on 09/01/2000 02:21 PM
To: Frank L Davis/HOU/ECT@ECT
cc: Mark Dilworth/LON/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Amita 
Gosalia/LON/ECT@ECT 
Subject: GTC's for weather

It has come to my attention that when we have a Financial Master Agreement in 
place, we have identified that a Master exists for the Weather Products.

This is not correct as the ISDA Masters do not properly cover weather. For 
Weather transactions, we need to use either the GTC or a weather-specific 
Master Agreement.

Frank: Could you please arrange to identify which companies have already 
transacted on weather and have done so ostensibly under an ISDA?  Could you 
please also coordinate with Mark as necessary to update Customer Profiles so 
that customers with ISDA's will need to accept GTC's?

If we have customers who have ostensibly transacted already under their 
ISDA's, let's identify who they are and then decide on a course of action for 
their profiles.

Thanks,

Dave