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Enron Mail |
Brent,
I would like this to become formal policy within EGM as well. I know that it exists and is around but no one is familiar with this or exactly how it works. We have made strides with credibility with RAC regarding coal and we are doing a better job of seeing deals in general but I would like to put out a policy like this for us. Please take a look at this and draft a memo that can be sent out addressing the approval procedures and the guidelines and limits around them. Thanks, mike To: Merritt Thomas/LON/ECT@ECT cc: Brent A Price/HOU/ECT@ECT (bcc: Mike McConnell/HOU/ECT) Subject: Re: CACS Yes, there is a formalized process. After Credit and Legal, and in most cases RAC, look at transactions, a VP or higher will sign the Dash. For Doug to sign the Bahamas option contract, I need to know the premium. Please contact Brent Price for our DASH. (Deal approval sheet) Jeff Merritt Thomas 10/23/2000 04:51 PM To: Jeffrey A Shankman/HOU/ECT@ECT cc: Subject: CACS Jeff, I'm sorry to bother you with this, but I can't seem to get a straight answer from anyone - when one is signing a contract around here, is there a form you fill out for approval? In London, everyone fills out a CACS form (Contract A uthorisation Control Sheet), and if the deal is < $0.5m, then a DASH is required as well. Brad seems to think that if a DASH is not required, then the business unit head signs off on the expenditure? Is there a formalised global-markets process for this, or is this a product-by-product thing? (in which case, I'll assume LNG has no process, and I'll direct Eric to implement one...) (Doug Arnell needs to purchase his option for the Bahamas land thing, thus the reason for the question). fyi, attached is European CACS form. Thanks, Merritt
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