fw : posting lc ' s to counterparties how do you want to address this ?
- - - - - original message - - - - -
from : staley , stuart
sent : monday , november 05 , 2001 12 : 29 pm
to : suttle , john
cc : nelson , roderick ; bradford , william s . ; peters , jez ; bradley , peter
subject : re : posting lc ' s to counterparties
john :
appreciate seeing the old e - mail again , but remind you that the shenhua cargo was agreed 22 oct . as mentioned , we will certainly try to push shenhua to entertain alternative arrangements , but the chinese are usually quite difficult on this subject ( to date , all chinese cargoes have required enron to post an lc ) . it ' s a good idea to get shankman thinking about this one today , because it is likely that we will need to post an lc for this cargo . if timing is an issue , i ' m sure we can drag the process out a few weeks since delivery is not until mid - jan .
regardless , need your input as soon as possible on whether we can continue transacting business where cash collection is not coincident ( or in advance of ) cash out the door .
thks ,
stu
- - - - - original message - - - - -
from : suttle , john
sent : 05 november 2001 18 : 06
to : staley , stuart
cc : nelson , roderick ; bradford , william s . ; peters , jez
subject : fw : posting lc ' s to counterparties
stu -
as per the e - mail below , rac must be contacted prior to transacting on an l / c basis . this was the same message i conveyed to the australian team early last week . the shenhua deal definitely falls within the description and is an issue to be resolved .
i will talk to jeff shankman today about the use of l / cs and capital in the near future , and see what resolution can be reached with the positions and strategy you hold in your book .
john
- - - - - original message - - - - -
from : patel , nish
sent : monday , november 05 , 2001 11 : 58 am
to : suttle , john
cc : nelson , roderick
subject : fw : posting lc ' s to counterparties
fyi
- - - - - original message - - - - -
from : maley , paul
sent : 25 october 2001 19 : 21
to : bradley , peter ; rizvi , riaz ; staley , stuart ; garner , bruce ; becker , sven ; ungethum , manfred ; bland , stuart ; chismar , john ; clarke , niamh ; cronin , caroline ; jones , mark ; koller , ross ; mahoney , chris ; mckinlay , tom ; mcleish , alex ; o ' brien , tony ; patel , nish ; peter , stewart ; petersen , bo ; potter , darren ; spencer , john ; talvitie , henkka ; thomas , john buckner
cc : nelson , roderick
subject : posting lc ' s to counterparties
in this current climate we should try wherever possible not to commit to posting collateral to counterparties for physical purchases of product unless absolutely necessary . we should offer an enron corp guarantee as an alternative . in the event that we are asked to post security to a counterparty would you please contact credit before doing so .
the credit hotline number is 36555
thanks for your co - operation .
paul
fw : posting lc ' s to counterparties
how do you want to address this ?
- - - - - original message - - - - -
from : staley , stuart
sent : monday , november 05 , 2001 12 : 29 pm
to : suttle , john
cc : nelson , roderick ; bradford , william s . ; peters , jez ; bradley , peter
subject : re : posting lc ' s to counterparties
john :
appreciate seeing the old e - mail again , but remind you that the shenhua cargo was agreed 22 oct . as mentioned , we will certainly try to push shenhua to entertain alternative arrangements , but the chinese are usually quite difficult on this subject ( to date , all chinese cargoes have required enron to post an lc ) . it ' s a good idea to get shankman thinking about this one today , because it is likely that we will need to post an lc for this cargo . if timing is an issue , i ' m sure we can drag the process out a few weeks since delivery is not until mid - jan .
regardless , need your input as soon as possible on whether we can continue transacting business where cash collection is not coincident ( or in advance of ) cash out the door .
thks ,
stu
- - - - - original message - - - - -
from : suttle , john
sent : 05 november 2001 18 : 06
to : staley , stuart
cc : nelson , roderick ; bradford , william s . ; peters , jez
subject : fw : posting lc ' s to counterparties
stu -
as per the e - mail below , rac must be contacted prior to transacting on an l / c basis . this was the same message i conveyed to the australian team early last week . the shenhua deal definitely falls within the description and is an issue to be resolved .
i will talk to jeff shankman today about the use of l / cs and capital in the near future , and see what resolution can be reached with the positions and strategy you hold in your book .
john
- - - - - original message - - - - -
from : patel , nish
sent : monday , november 05 , 2001 11 : 58 am
to : suttle , john
cc : nelson , roderick
subject : fw : posting lc ' s to counterparties
fyi
- - - - - original message - - - - -
from : maley , paul
sent : 25 october 2001 19 : 21
to : bradley , peter ; rizvi , riaz ; staley , stuart ; garner , bruce ; becker , sven ; ungethum , manfred ; bland , stuart ; chismar , john ; clarke , niamh ; cronin , caroline ; jones , mark ; koller , ross ; mahoney , chris ; mckinlay , tom ; mcleish , alex ; o ' brien , tony ; patel , nish ; peter , stewart ; petersen , bo ; potter , darren ; spencer , john ; talvitie , henkka ; thomas , john buckner
cc : nelson , roderick
subject : posting lc ' s to counterparties
in this current climate we should try wherever possible not to commit to posting collateral to counterparties for physical purchases of product unless absolutely necessary . we should offer an enron corp guarantee as an alternative . in the event that we are asked to post security to a counterparty would you please contact credit before doing so .
the credit hotline number is 36555
thanks for your co - operation .
paul