Noticed you were not copied . . .

Dave
---------------------- Forwarded by David Forster/Corp/Enron on 07/17/2000 
02:12 PM ---------------------------


David Minns@ENRON_DEVELOPMENT
07/17/2000 03:38 AM
To: Alan Aronowitz/HOU/ECT@ECT
cc: Dale Neuner/HOU/ECT@ECT, David Forster/Corp/Enron@ENRON@ECT, Justin 
Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Leonardo 
Pacheco/Corp/Enron@Enron@ECT, John Viverito/Corp/Enron@Enron@ECT, Susan 
Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul 
Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: Re: EOL GTC's for Weather Derivatives In Australia  

Let me add a couple of observations to Alan's explanation. There will be 
different GTCs for Japanese and Australian weather products. However as it is 
planned that they will both have Enron Australia Finance Pty.Ltd. as the 
Enron contracting party and have designate New South Wales (an Australian 
State) as the choice of law the forms will be nearly Identical. The only 
differences currently relate to different data sources.

There may also be additional changes that come out of the B&M review to 
accommodate the fact that the counterparty will almost certainly the 
incorporated in Japan. Hence we would want to take all possible steps to 
ensure that when we market these products in Japan we minimumise the 
possibility that we are that in breach of Japanese legislation. Furthermore 
although any transaction will be enforced in an Australian court if a 
counterparty only has assets in Japan then the ability to enforce a 
transaction would be relevant.

However, there is no need to review the Australian weather GTCs for 
conformity with Japanese law. Whilst it is possible a Japanese incorporated 
company may seek to trade Australian weather they may also trade crude 
derivatives or US power. Rather than insert a provisions in all these GTCs 
the appropriate step is for signoff that it is appropriate for a particular 
Japanese counterparty to trade particular products. This is the process that 
is currently followed.

Accordingly the Australian weather GTCs can now be loaded. The Japanese 
weather GTCs are awaiting B&M signoff.                


From: Alan Aronowitz@ECT on 14-07-2000 09:40 CDT
To: Dale Neuner/HOU/ECT@ECT
cc: David Forster/Corp/Enron@ENRON, Justin 
Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Leonardo 
Pacheco/Corp/Enron@Enron, John Viverito/Corp/Enron@Enron, David 
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: Re: EOL GTC's for Weather Derivatives In Australia  

We are currently having the GTCs for Australian weather reviewed by local 
counsel in Japan for conformity to Japanese law. We will likely have their 
comments by early next week (they know there is an urgency to this matter). 
My current view is that we probably can have one set of GTCs as long as the 
additional language (e.g., representations) suggested by local Japanese 
counsel for the Japanese counterpaties would not be confusing to the 
Australian counterparties who would be entering into the Australian weather 
products. 

I also want David Minns, who will be back from vacation on Monday, to review 
and approve the final approach on documentation for the two geographical 
products offered by Enron Australia Finance Pty. Ltd.

Regards, Alan



	Dale Neuner
	07/14/2000 08:48 AM
		
		 To: David Forster/Corp/Enron@ENRON, Alan Aronowitz/HOU/ECT@ECT, Justin 
Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Leonardo Pacheco/Corp/Enron@Enron
		 cc: 
		 Subject: Re: EOL GTC's for Weather Derivatives In Australia

I think there is some confusion here. I had a conversation with Alan 
yesterday and at the close was under the impression that we would be using a 
single GTC for both Aus and Jpn , but that the existing GTC needed to be 
adjusted with respect to Japanese Weather products in the 'Relationship to 
Party' and 'Additional Representation' sections.

Alan - please confirm this via return e-mail.

Dale




David Forster@ENRON
07/13/2000 07:44 PM
To: Justin Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ECT, Leonardo 
Pacheco/Corp/Enron@Enron, Dale Neuner@ECT
cc:  
Subject: Re: EOL GTC's for Weather Derivatives In Australia  

What Japanese version? I thought we had decided it was not necessary.

Leonardo: Please chase this down and obtain concensus and resolution.

Thanks,

Dave



Justin Timothy@ENRON_DEVELOPMENT
07/13/2000 04:17 PM
To: David Forster@ECT, Leonardo Pacheco/Corp/Enron@ENRON
cc: Dale Neuner@ECT 

Subject: EOL GTC's for Weather Derivatives In Australia


---------------------- Forwarded by Justin Timothy/ENRON_DEVELOPMENT on 
07/14/2000 07:15 AM ---------------------------


Paul Quilkey
07/14/2000 07:40 AM
To: Paul Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Justin 
Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  

Subject: EOL GTC's for Weather Derivatives In Australia


---------------------- Forwarded by Paul Quilkey/ENRON_DEVELOPMENT on 
07/14/2000 06:43 PM ---------------------------
From: Alan Aronowitz@ECT on 07/13/2000 11:30 AM CDT
To: John Viverito/Corp/Enron@Enron
cc: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul 
Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: EOL GTC's for Weather Derivatives In Australia

You should coordinate with David Minns early next week when he comes back to 
make sure that the Japanese version of the on-line GTCs includes the 
appropriate representations from our counterparties, as recommended by B&M. 
Also, if B&M has not already done so we should have them take a quick look at 
the attached for any additional changes for the Japanese market.

I understand from Dale Neuner of EOL Houston who is responsible for the 
uploading of the GTCs that the final GTCs for Japan weather need to be into 
Houston preferably sometime next week since the launch is July 26. Thanks.

Alan
----- Forwarded by Alan Aronowitz/HOU/ECT on 07/13/2000 11:25 AM -----

	Paul Smith@ENRON_DEVELOPMENT
	07/07/2000 04:48 PM
		 
		 To: David Forster@ECT, Sheri Thomas@ECT, Mario Parra Cardoso@Enron, Frank L 
Davis@ECT
		 cc: Justin Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan Aronowitz@ECT, 
David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Leonardo 
Pacheco/Corp/Enron@ENRON
		 Subject: EOL GTC's for Weather Derivatives In Australia


Mario and Frank,

Attached are the final GTC's for Australian Weather. Can you please load 
these to EOL.

Rgds
Paul

---------------------- Forwarded by Paul Smith/ENRON_DEVELOPMENT on 
08/07/2000 07:05 ---------------------------


David Minns
06/07/2000 17:05
To: Paul Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  

Subject: EOL GTC's for Weather Derivatives In Australia

Paul attached are the settled Australian weather GTCs for loading onto to 
EOL.