ML18079A291

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Forwards Amend 6 to Indemnity Agreement B-74,per 10CFR140 Changes,Re Increase from $140 Million to $160 Million, Effective 790501.Supporting Documentation Encl
ML18079A291
Person / Time
Site: Salem PSEG icon.png
Issue date: 05/01/1979
From: Saltzman J
Office of Nuclear Reactor Regulation
To: Schneirder F
Public Service Enterprise Group
References
NUDOCS 7905150367
Download: ML18079A291 (6)
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Text

e UNITED STATES NUCLEAR REGULATORY COMMISSION WASHINGTON, D. C. 20555 MAY 1 1979 Docket No. 50-272 REGULATORY DOCKET FILE COPY Public Service Electric & Gas Company ATTN:

Mr. F. W. Schneirder

  • Vice President Production 80 Park Place Newark, New Jersey 07101 Gentlemen:

We are enclosing herewith an amendment to your indemnity agreement reflecting the changes to 10 CFR Part 140, "Financial Protection Require-ments andlindemnity Agreements," effective May l, 1979.

The amendments to Part 140, a copy of which is also enclosed, give effect to the increase from $140 million to $160 million in the primary layer of nuclear energy liability insurance provided by the American Nuclear Insurers and Mutual Atomic Energy Liability Underwriters.

We would appreciate your indicating acceptance of the amendment to your indemnity agreement in the space provided and returning one signed copy.

If you have any questions about the foregoing, please contact us.

Sincerely,

Enclosures:

1.

Amendment to Indemnity Agreement

2.

Amendment to 10 CFR Part 140

~*

Docket No. 50-272 AMENDMENT TO INDEMNITY AGREEMENT NO. B-74 AMENDMENT NO. 6 Effective May 1, 1979, Indemnity Agreement No. 13-74, between Public Service Electric and Gas Company, Philadelphia Electric Company, Delmarva Power and Light Company,,Atlantic City Electric Company, and the Atomic

-Energy Commission, dated November 5.~ 1974, *as amended, is hereby further amended *as fo 11 ows:

The amount n$l'l-0,000,000 11 is deleted wherever it appears and the amount 11$160,000,000 11 *is substituted therefor.

The amount 11$108,500,000 16 is deleted wherever it appears and the amount 11 $124,000~000 11 is substituted therefor.

The amount l!$31,500,000 11 is deleted wherever it appears and the amount 11$36,000,000 11 is substituted therefor.

Item 2a* of the f.\\ttachment to the indemnity agreement is deleted in its e1itirety and the following substituted therefor:

\\

Item 2 - Amount of financial protection a.

$1, 000, 000

$125,000,000

$140,000,000 *

(From 12:01 a.m., November 5 1974, to 12 midnight, August 12~ 1976, inclusive) *

(From 12:01 a.m., -August 13, 1976, to 12 midnight~ April 30, 1977, inclusive)

( From l 2 : Ol a. m., May l, l 9 77, to 12 midn~ght, April 3p, 19799 inclusive) i

  • 1.. i. I

..:::.1: :: : : : :: :::::: ::::: :::: :t::*.*.~.*.*.*:::.*.*.-.*............... <: :' :::::::::::::: :::::::::** ::: : :: ::: ::: : ::::: :: :: : <: :: ::::::::::::: :: ::: : :::-.::::*:.:::::::::::::::

DATS.

.,,.*.. * * * *.. *, *. *. * * * *. *., './.*., * * *.,.., *..* * *.... * *.. *.. " **.*...* * ~,....... * *,. *... *,.**...,.,......* *,., *.,.,,.,..*.* *. *.,

u.*. oo.V*RNMIENT PRINTING! OPP1C*: I UI..... _H*

. I

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$160,000,000 *

(From 12: 01 a. m., May 1, 1979)

FOR THE UNITED STATES NUCLEAR REGULATORY COMMISSION

'Isl JEROME SALTZMAN Jerome Saltzman, Chief Antitrust & Indemnity Group Office of Nuclear Reactor Regulation Accepted

, 1979

--~--~-----

By

-p=u=B:-:-L"""'I c~s=ER=v=1=cE;;--:;E,,.-LE=c=r=R';'":I C:--;;-A""'No=-=GA"""'s=--=co=~=1p'"""ANY Accepted ____

~-------""*, 1979 By

-=pH=I~LA=D~E~L=P~~II~A--:E=L~E=cr=R~I=c~c~O~M=PA=N=v~--~

Accepted_. _________ _

1979 By

--=o=E:,o:-,U:-::-;*1A=R.,..,..VA::--=PO=v=1E"""R....... A=N=-o '""T"L""="IG=H=T:-:c=o=MP"'"'A=N~V ---

1979 By

~=--=-=-=~~=-=-===~-==~.,------

ATLANTIC* CITY ELECTRIC-COMPANY

  • !Ji stri buti on:
  • Licensee ( 5) 11.PDR PDR.

Docket Fi 1 es.

AIG Indemnity

~and, as of August l, 1977, the amount available as

  • financial protection~
  • AIG R/F secondar{Dinitz Reading OELD CP'l'ICll~ **~~~-~
                    • :.NR.. I.~.. :... ************:********:***...... :.... :...................................... ****************:***** *.

SURNAMll~

      • ~~~;.Y,l.i;l......** ~~ *.*** f!n.... ************************** ********'.***********:..... ************************** **********************

D~TE~

      • 1*!...... l.?.~.......,.4/:

...?~..... ~.............................. _........................ *"*********************** ***********"***.. ****.

MlC. 1'00.M 318 (9*76) NRCM 02"9 Ue** GOV*RNM*NT PRINTING} OP'P'ICI!: 1171

  • 211
  • 700

J e

~

Federal Register / Vol. 44, No. 68 / Friday, April 6, 1979 / RulPand Regulations

-~2 This document has been reviewed in accordance with FmHA Instruction 1901-G, "Environmental Impact Statements." It is the determination of FmHA that this action does not constitute a major Federal action significantly affecting the quality of the human environment and in accordance with the National Environmental Policy of 1969, Pub. I..91-190, an Environmental Impact Statement is not required.*

Authorities: (42 U.S.C. 1480; delegation* of authority by the Secretary of Agriculture, 7 CFR 2.23; delegation of authority by the Assistant secretary for Rural Development. 7 CFRZ.70)

Dated: March 30, 1979.

Ganlau c.vuaup.

Adminillllulor. Farmers Ha-Adminidmtian.

(FD!HA lmtruction 444.5] "

(FG. Doc. 7&-10581Filed4-0-79;.&'45 IUD]

lllUJNG CODE U1M17-M NUCLEAR REGULATORY COMMISSION 10 CFR Part 140 Financial Protection Requirements and Indemnity Agreements; Miscellaneous Amendments AGENCY: U.S. Nuclear Regulatcil'f Commission.

ACTION: Final Rule.

SUMMARY

The provisions of 8ection 170 of the Atomic Energy Act of 1954, as amended, require production and utilization facility licensees to have and maintain financial protection to cover.

public liability claims resulting from a nuclear incident The Nuclear Regulatory Commission is amending its regulations tci increase the level of the primary layer of financial protection required of certain indemnified licensees. The Commission is amending its regulations at the.

present time to coincide, as statutorily required. with the increase in the level of the primary layer of insurance provided by private nuclear liability insurance pools.

EFFECTIVE DATE:. May 1, 1979.

FOR FU~ER INFORMATION CONTACT:

Mr. Ira Dinitz, Antitrust and Indemnity Group, U.S. Nuclear Regulatory Commission. Washington. DC 20555.

(Phone: 301-492-8336).

SUPPLEMENTARY INFORMATION: The provisions of Section 170 of the Atomic EneIID'..Act of 1954, as amended, (the Act). require production and utilization fai::ilit}r' licensees to have and maintain financial protection to cover public liability claims resulting from a nuclear incident. Section 170 of the Act, requires the Nuclear Regulatory Commission to indemnify the licensee and other persons indemnified, up to the statutory limitation on liability, against public liability claims in excess of the amount of financial protection required.

Subsection 17Db. of the Act requires that for facilities designed for producing substantial amounts of electricity and having a rated capacity of 100 electrical megawatts or more, the amount of financial protection 1 required shall be the maximum amount available from private sources. For other licensees. the

  • commission may require lesser amounts of financial protection; Primary financial protection may be in the form of private insurance, private contractual indemnities, self-insurance or other proof of financial responsibility, or combination of such measures.

The insurers who provide the nuclear.

liability insurance, American Nuclear Insurers (ANI) and Mutual Atomic Energy Liability Underwriters (MAELU),

have advised the Commission that effective January 9, 1979, the maximum amount of primary nuclear energy liability insurance available was increased from $140 million to $160 million. Pursuant to the provisions of subsection 170b. of the Act. tht amount.

of primary financial protection required for facilities having a rated capacity of 100 electrical megawatts or more will be increased to $160 million, effective May

  • 1, 1979. In addition. in compliance with

. io CFR Part.140, those persons licensed to possess plutonium in the amount of 5 kilograms or more and persons licensed to process plutonium in the amount of 1 kilogram or more for use in plutonium.

processing and fuel fabrication plants will also be required to provide financial protection in the amount of $160 million.

Since the amendments set out below conform the Commission's regulations to a statutory requirement, the Commission has found that good cause exists for omitting a value/impact analysis, pu~lic notice of proposed rule making and public procedure thereon.as unnecessary.

Pursuant to the Atomic Energy Act of 1954, as amended, the Energy Reorganization Act of 1974, as amended, 1 The Act does not by Its precise languase require maintenance of a "primary" (i.e., nuclear liability Insurance) layer and a "secondary" [i.e.,

retrospective premium) layer of financial protection but merely considers the combination of these two layers e* "financial protection." However, 10 CFR Part 140, of the Commission's regulation* that implement the Act. distinguishe* between the primary and secondary layel'8 of financial protection. The amendment* in this rule relate solely to increase& in the primary layer of financial protection.

and sections 552 and 553 of Title 5 of the United States Code, the following amendments to Title 10, Chapter l, Part 140. Code of Federal Regulations, are published as a document subject to codification.

§ 140.11 [Amended]

1. Section 140.ll(a)(4) is amended by deleting "$140,000,000" and substituting therefor "$160,000,000."

§ 140.13a [Amended]

2. Section 140.13a(a) is amended by deleting the term "$140,000,000" and substituting therefor "$160,000,000."

f 140.11 [Amended]

3. In § 140.91, Appendix A. Condition 4 is amended by revising the footnote to read as follows: "For policies issued by Nuclear Energy Liability-Property Insurance Association the amount will

.be "$124,000,000"; for policies issued by Mutual Atomic Energy Liability

  • Underwriters, the amount will be

"$36,000,000...

4. In § 140.91, Appendix A. paragraph m of the "Optional Amendatory Endorsement" is amended by revising the footnote to read as fo)lows:.,,..

"For policies issued by N~~l~a/&ie~

Liability-Property Insurance :ASiiociation the amount will be "$1~.00o~OOO";'for.:

  • policies issued by Mutual Atorillb' * '.

Energy Liability Underwriters the amount will be "$36,000,000."

§ 140.92 [Amended]

  • 5. Section 140.92, Appendix B, Article Il. paragraph 8[a), is amended by deleting the amount $108,500,000" wherever it appears and substituting therefor "$124,000,000."
6. Section 140.92, Appendix B, Article Il, paragraph S(b ), is amended by deleting the amount "$31,500,000" wherever it appears and substituting therefor "$36,000,000."
7. Sectio:p.140.92., Appendix B, Article IL paragraph 8(c), is amended by changing the amount "$140,000,000" to

"$160,000,000...

8. Section 140.92., Appendix B, Article ill. paragraph 4(b)[2), is amended by changing "$140,000,000" to

"$160,000,000...

§ 140.93 [Amended]

9. Section 140.93, Appendix C. Article II, paragraph 8, is amended by changing

"$140,000,000" to "$160,000,000."

10. Section 140.93, Appendix C, Article III, paragTaph 4(b)(2), is amended by changing "$140,000,000" to

"$160,000,000...

I Federal Regis. Vol. 44, No. 68 / Friday, April 6, 1979 / Rules.Regulations 20633

§ 140.94 [Amended]

11. Section 140.94, Appendix D. Article II. paragraph 6. is amended by changing

"$140,000.000" to "$160.000,000."

§ 140.95 [Amended]

12. Section 140.95, Appendix E, Article
m. paragraph 4(b)(2), is amended by changing "$140,000,000" to

"$160,000.000.

§ 140.107 [Amended]

13. Section 140.107, Appendix G,
  • ~

Article II. paragraph 6(a), is amended' by deleting the amount "$108,500,000" wherever it appears and substituting therefor "$124,000,000."

14. Section 140.107, Appendix G,.

Article II. paragraph 6(b), is amended by deleting the amount "$31,500,000".

wherever it appears and substituting

  • therefor "$36,000,000."
15. Section 140.107, Appendix G, Article m. paragraph 6(c), is amended by changing the amount $140,000,ooO" to "$160,000,000."
16. Section 140.107, Appendix G,
  • Article m. paragraph 4(bJ, is amended by changing the amount *"$140,000,000" to "$160,qoo,ooo.'.'

§ 140.108 [Amended]

.. "i7. S~ctlo~*i40.108, Appendix G.

  • AftiCle.n: paragraph_ 6. is amended by changiii.g the amount "$140,000,000" to

"$160,000,000."

18. section *140.108, Appendix H, Article m. paragraph 4(b), is amended by changing the. amount "$140,000,000"

. to "$160,000,000."

EFFECTIVE DATE! The foregoing amendments become effective on May 1, 1979.

(Secs. 161, Pub. L.83-703, o8 Stat. 948 (42.

U.S.C. 220:t): Sec. 170,' Pub. L.85-256, n Stat.

576, Pub. J..94-197, 89 Stat. 1111 (42 U.S.C.

2210): Sec. 2Ql. Pub. L.93-438, as amended, 68 Stat.1242, 69 Stat. 415 (42 U.S.C. 5841))

Dated at Washington, ri.c., this 2nd day of April 1979.

~or the Nuclear Regulatory Commission.

Samual J. Cbllk.

Secretary of the Commi.. ion.

[FR Doc. 79-10853 Filed 4-5-79: 8:45 am[

BiWNG CODE 7590-01...

FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Parts 307 and 327 Assumption and Assessment of Deposit Uabllltles of Insured Banks; Voluntary Termination of...lnsurance Status AGENCY: Federal Deposit Insurance Corporation..

ACTION: Final rule.

SUMMARY

The Federal Deposit Insurance Corporation has decided to revise and amend §§ 307.3 and 327.2(b)(3) of its regulations to: (1) implement Sections 304 and 310 of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRIRCA) which pertain to the assumption and assessment of deposit liabilities of insured banks, and (2) correct an inaccurate reference.

EffECTJVE DATE: April 6, 1979.

FOR FURTHER INFORMATION CONTACT:

Jerry L. Langley, Senior Attorney,.

Fed11ral Deposit Insurance Corporation, 55017th Street, N.W., Washington, D.C.

20429, telephone (202) 389-4237.

SUPPLEMENTARY.INFORMATION: Section 304 of FIRIRCA amends Section B( q) of the Federal Deposit Insurance Act (FDI Act) to provide that whenever the deposit liabilities of an insured bank are assumed by another insured bank, whether by merger, consolidation, or other statutory assumption, or by contract: (1) the insured status of the bai:µc whose deposits are assumed shall terminate on the date the Corporation receives satisfactory evidence of the *

  • assumption; (2) the separate insurance of all insured deposits so assumed shall
  • terminate six months after the date the assumption talces effect or, in the case of any time deposit, the'earij_est.maturity date after the six-month period; and (3) the continuing bank shall give notice of the assUlnption to the depositors of the bank whose deposits are assumed
  • within 30 days after the assumption takes effect Section 307.3 has been revised to implement these provisions and to correct an incorrect citation by changing the reference"§ 304.3. (s] and (t)" in Section 307.3(b) to "§ 304.3 (u) and (v)".

Section 310 of FIRIRCA amends Section 7 of the FDI Act to exclude deposits accumulated for the repayment of personal loans from the definition of deposits for insurance assessment purposes. 'Section 327.2(b )(3) ofFDIC' s regulations has been amended to aline its definition of the term "deposit" for assessment purposes with that of Section 310 of FIRIRCA.

Since the changes are procedural In nature or necessitated by statutory amendment, the Board of Directors of the Federal Deposit Insurance Corporation has determined, under Section 302.6 of its rules and regulations (12 CFR § 302.6), that notice of, and public participation in. this rulemaking is unnecessary and that good cause exists for the waiver of the 30-day deferral of the effective date for the changes.

Accordirigly, 1Z CFR 307.3 and 327.2 subparagraph (b) are changed as follows:

PART 307-VOLUNTARV TERMINATION OF INSURANCE STATUS

1. 12 CFR 307.3 is revised to read:

§ 307.3 Steps to be taken and r.ecords to.

be furnished the Corporation where d1tpo9lts are auumed by another Insured bank.

(a) Whenever the deposit liabilities of an insured bank are assumed by another insured bank, whether by merger, consolidation, or other statutory assumption, or by contract, the continuing bank shall give notice of the assumption to the depositors of the bank whose deposits are assumed within 30 days after the assumption talces effect. 9 Such notice shall be (1) mailed to each depositor at the depositor's last address of record as shown upon the books of the barik, (2) published in not less than two issues of a local newspaper of general circulation, and (3) in form substantially as follows:

(Date)------

Notice to Depositors:

Please be advised that the deposit liabilities shown on 'the books of (Name of Assumed Bank)

(City or town)

(State) -- as of close of business on---, 1~ have been assumed by the undersigned bank. The *

  • insured status of (Name of assumed bank) will terminate at the*time provided in section B(q) of the Federal Deposit Insurance Act.

The separate insurance of its deposits* will therefore terminate at the end of six months

. from the above date or, in the case of a time deposit. the earlies.t maturity date after the

  • six-month period.

. Yo~ are advised that the undersigned baiik 1s an insured bank and that your deposits will continue to be insured by the Federal Deposit Insurance Corporation in the manner and to the extent'provided in said Act.

(Name of Bank)-------

[Address)-------

. There may be included in su~h notice any additional information or advice the bank may deem desirable.

"The notice requirement does not a~~ly to * * *

"phantom" bank mergel'3 as defined in footnote 2a of Section 303.11(a](9).

), J.

l~~~~~F~e~d~er~a~l~R~e~g~i~st~e~r ~f~-~o~l.~44~. ~N~~~-~8~0~/~T~u~e~s~d~a~y~. ~A~p~r~il~2~4~. ~1~9~79~-~*~.<~u~le~s~an~d~R~e~g~u~la~t~io~n~s~~~2~404~~5 NUCLEAR REGULATORY COMMISSION 10 CFR Part 140 Financial Protection Requirements and Indemnity Agreements; Miscellane0us Amendments Correction In FR Doc. 79-10853, appearing at page 20632, in the issue of Friday, April 6, 1979, on page 2063:r, make the following corrections:

(1) In the first column in paragraph 15, in the second line, correct "Article III" to read "Article II".

(Z) In paragraph 17, in the first line.

correct "Appendix G" to read

""Appendix H".

BIWNG CODE 1505--01-M DEPARTMENT OF ENERGY 10 CFR Part 205 Administrative Procedures and Sanctions; 1979 Interpretations of the General Counsel AGENCY: Department of Energy.

ACTION: Notice of Interpretations.

SUMMARY

Attached is the Interpretation issued by the Office of General Counsel of the Department of Energy under 10 CFR Part 205, Subpart F. during the period March 1, 1979, through March 31, 1979.

Appendix 8 identifies those Requests for Interpretation which have been dismissed during the same period.

FOR FURTHER INFORMATION CONTACT:

Diane Stubbs. Office of General Counsel, Department of Energy, 12th &

Pennsylvania Avenue NW., Room 1121, Washington, D.C. 20461 (202)633-9070.

SUPPLEMENTARY INFORMATION:

Interpretations issued pursuant to 10 CFR Part 205, Subpart F. are published in the Federal Register in accordance with the editorial and classification criteria set forth in 42 FR 7923 [February 8, 1977), as modified in 42 FR 46270 (September 15, 1977).

These Interpretations depend for their authority on the accuracy of the factual statement used as a basis for the Interpretation (10 CFR 205.84(a)(Z)) and may be rescinded <Jr modified at any time(§ 205.85(d)). Only the persons to whom Interpretations are addressed and other persons upon whom Interpretations are served a11e entitled to rely on them(§ 205.85(c)). An Interpretation is modified by a subsequent amendment to the regulation(s) or ruling(s) interpreted thereby to the extent that the.

Interpretation is inconsistent with the amended regulation(s) or ruling(s)

(§ 205.85(e)). The Interpretations published below are not subject to appeal.

Issued in Washington. D.C., April 10, 1979.

  • Everard A. Marseglia. Jr~

Assistant General Coanse/ for Interpretations and Rulings.

Office of Generoi Counael. -

Appendix A-Interpretations No.

To Date Category F!leNo.

1979-03................................. Sincta~ Oil Co<porauon............................... -. Maren s..................... Pnce...........................

A-349 Interpretation 1979-5 To: Sinclair Oil Corporation Regulation Interpreted: 10 CFR 210.62(a]

Code: GCW-Pl-Normal business practices Facts The Sinclair Oil Corporation. a small and independent refiner subject to 10 CFR Part 212. Subpart E. markets petroleum products through its subsidiary. Sinclair Marketing, Inc. (Sinclair). Since May 1973. Sinclair's standard contracts with jobbers and dealers for the sale of motor gasoline have required payment in full within 30 days. Payment in full within 10 days has entitled a purchaser to a 1 percent discount on the purchase price.

Sinclair has considered an account outstanding for more than 30 days to be in defauit and sub1ect to suit. In that instance.

collection costs would be assignable to the account. £\\t the present time. Sinclair desires to modify its standard contracts for the sale of motor gasoline to require a finance charge of one and one-half [1Y2J percent monthly on the balance of all accounts not paid within 30 days. No other credit terms are to be changed.

Issue Does Sinclair's proposal to assess a finance charge on all d*elinquent accounts constitute the imposition of a more stringent credit term than the credit terms in effect on Mav 15.

1973. within the meaning of 10 CFR 2l0.62(a)?

lnre.7Jretatioh For the reasons set forth below. the Department of Energy (DOE] has determined that Sinclair*s inclusion of a 11/2 percent monthiy finance charge on all accounts not paid within 30 days_*in its standard contracts for the sale of motor gasoline would constitute the imposition of a more stringent credit term than the credit terms in effect on Mav 15. 1973. in violation of§ 210.62(a).

The General Allocation and Price Rules. Sf'!

forth at 10 CFR Part 210 and adopted on January 14. 1974. 39 FR 1924 (January 15.

1974). were intended to set forth the provisions applicable to both the Mandatory Petroleum Allocation Regulations [10 CFR Part 211) and the Mandatory Petroleum Price Regulations (10 CFR Part 212). The allocation and price regulations were adopted to implement the statutory mandate of Section 4(a) of the Emergency Petroleum Allocation Act of 1973 [EPAA). as amended. Pub. L. No.93-159 [November 27, 1973). 1 Section 210.62(a) regulates credit terms as a function of price in recognition of the varying roles that credit and other conditions of sale play in the flow of product.' Section 210.62( a I provides in relernnt part:

"'Suppliers will deal with purchasers of an allocated product according to normal business practices in effect during the base period specified in Part 211 for that allocated product, and no supplier may modify any normal business practice so as to result in the circumvention of any provision of this chapter.... Credit terms other than those associated with seasonal credit programs are included as a part of the May 15, 1973 p"rice charged to a class of purchaser under Part 212 of this Chapter. Nothng in this paragraph shall be construed to require suppliers to sell to purchasers who do not arrange proper credit or payment for allocated products. as customarily associated with that class of purchaser... on May 15. 1973....

However, no supplier may require or impose more stringent credit terms or payment schedules on purchasers than those in effect for that class of purchaser... on May 15, 197~... -

According to the facts presented by Sinclair. neither at the present time nor on

'15 U.S.C. 751 et seq. (1976).

'Since the decision by the Temporary Emergency Court of Appeals in.\\1arathon Oil Co. v. FEA. 547 F.Zd 1140 (TECA 1976). there can be no doubt concerning the authority of the Federal Energy Administration (FEAJ and its successor. the DOE. to regulate credit terms incident to the mandatory petroleum price regulations. In addition. the DOE has resolved issues similar to the one presented by Sinclair. concerning whether changes in credit terms are permissible in view of the provisions of

§ 210.62(a). See Exxon Company. U.S.A.. 2 DOE

~80.150 (October 28. 1978); Crystal Oil Co.. 1 FEA

~20.161 (October 8. 1974). In Oil Transit Corp..

Interpretation 1977-35. 42 FR 54269 (October 5.

1977). the DOE found that requiring purchasers of motor gasoline to incur for the first time the additional cost of obtaining letters of credit guaranteeing payment to Oil Transit would have the effect af ;mposing a more strinJ!ent credit term than the credit terms.in effect on May 15. 1973. in violation of§ 210.62(al. However. the DOE has not previously considered a case such as :he present one where the proposed change in credit terms would apply only after the purchase price is due in full.

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