Common use of Off-Premises / After Hours Transactions Clause in Contracts

Off-Premises / After Hours Transactions. All Natural Gas and Oil Supply Traders and Schedulers are granted authority to complete transactions within their normal course of business outside of the office and outside of normal business hours. This authority can also be extended to specific Oil Marketers or Traders that would regularly conduct futures / forward transactions outside of normal business hours. It is the responsibility of the specific employee to ensure that all transactions are entered into the appropriate commercial system as soon as practical, in all cases expected by at least the end of the next business day. If a trader or marketer who does not fit into the category identified above and is not normally authorized to transact off-premises or after hours, he/she must receive pre-authorization from his/her Trading Leader. The Trading Leader will grant such authorization on a case by case basis and document the specific exception to this procedure.