1.  If we have a US counterparty we insert the appropriate choice.  

2.  Revisions to the CFTC Rules have done away with the  "Eligible Swap 
Participant"  rules for energy commodities (they would still apply to 
agricultural products).  The rules are still pretty similar however, and the 
current lingo is now "Eligible Contract Participants".  See our revised form, 
attached.





	Karen A Cordova@EES
	04/04/2001 04:33 PM
		 
		 To: Tana Jones/HOU/ECT@ECT
		 cc: Marianne Castano/HOU/EES@EES
		 Subject: swaps

Hi Tana --

I have a couple of questions concerning swaps that I hope you can answer.  

1. With respect to Part 2.  Tax Representations. to the Schedule, is it 
standard to insert into the Schedule the information from Form #3 when 
dealing with a U.S. Counterparty?

2. Part 5.  Other Provisions.  Is the following point the most current and 
also a standard provision in the Schedule when dealing with a U.S. 
Counterparty?
(h) Eligible Swap Participant.  It constitutes an &eligible swap participant8 
as such term is defined in Rule 35.1(b)(2) of the Commodity Futures Trading 
Commission, 17 C.F.R. o 35.1(b)(2) (1993).

Thanks alot for your continued support of EES Legal.  Thanks Karen