SUBSCRIBER NOTE: General terms and conditions in Americas MOC process

In the Americas Market on Close assessment process, S&P Global Platts considers bids and offers that are executable under normal conditions and reflect typical trading practices.

Companies' general terms and conditions are normally recognized provided they are consistently applied and accepted as part of normal trading practice.

Counterparties are expected to perform on trades reported in the MOC based on typical general terms and conditions that have been applied and accepted by both counterparties in the open market.

If an offer is lifted by a buyer during the MOC process, Platts would expect typical general terms and conditions between both parties to be applicable, even where the general terms and conditions stated in the originally published offer may differ, if the companies have not conventionally performed on the published general terms and conditions.

At no time can a company impose its own general terms and conditions after hitting a bid or lifting an offer made under a different standard.

Furthermore, a company's general terms and conditions regarding vetting are not applicable to a third-party terminal.

Platts would like to remind market participants that any bid or offer published in the MOC process must adhere to Platts' editorial guidelines and published trades are expected to meet Platts' guidelines for acceptable performance. As such, trades executed through the MOC process may be subject to editorial review for performance completion and product quality standards.

Please send all comments, feedback and questions to americas_products@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.