LEGAL AND PRIVACY 

YOU SHOULD READ THIS LEGAL AND PRIVACY STATEMENT BEFORE USING THIS WEBSITE. By continuing to access or use this website, you expressly acknowledge and agree to the terms and conditions set forth in this Legal and Privacy statement. Enron reserves the right to modify this Legal and Privacy statement at any time, so you should review these terms and conditions whenever accessing or using this website. By using the website after the posting of modifications to the terms and conditions set forth in this Legal and Privacy statement, you signify your acceptance of such terms and conditions, as modified.  You may not use this website if, at any time, you do not wish to accept the terms and conditions as set forth in this Legal and Privacy statement. 

1.	All information and material including images, text and audio on this website is the property of Enron Corp. and/or its subsidiaries (and/or its or its subsidiaries’ licensors) (collectively “Enron”) and is subject to copyright.  EnronOnline, EnronOnline.com, Trading Innovation, Endless possibilities, Enron.com, Enron, Enron & design, Enron Corp., Enron Corp. & design, Enron with fanciful E, Enron with fanciful E (color), Natural gas, Electricity, Endless possibilities, Socket and flame logo are all trademarks owned by Enron Corp.  All other trade marks on this website are the property of their respective owners.  You are entitled to view, copy and print any documents from this website but only for your own internal business purposes.  You acquire absolutely no rights or licenses in or to the website or the materials contained within the website other than the limited right to use the website in accordance with this Legal and Privacy statement.   Any sale, transmission or redistribution of this website or its content, and any copying, modification or other use of this website or its content for any purposes other than your own internal business purposes, are strictly prohibited.
2.	All present and future rights in and to trade secrets, trademarks, service marks, copyrights and other proprietary rights under the laws of any domestic or foreign governmental authority (the "Intellectual Property Rights") shall at all times be and remain the sole and exclusive property of Enron as between you and Enron.   Except as specifically permitted by the terms of this Legal and Privacy statement, you shall not use the Intellectual Property Rights or the website, or any derivatives thereof, for any purpose, without Enron’s prior written approval.   You agree to protect the proprietary rights of Enron and all others having rights in the website and to comply with all reasonable written requests made by Enron or its suppliers of content or otherwise ("Suppliers") to protect their and others' contractual, statutory and common law rights in the website. You agree to provide Enron with prompt written notice of any unauthorized access or use of the website by any party or of any claim that the website infringes upon any copyright, trademark or other contractual, statutory or common law rights.
3.	This website is provided solely for information purposes and, with the exception of this “Legal and Privacy” statement, is not intended to, and shall not, constitute any offer or acceptance with the respect to any transactions or other matters.  Except for this Legal and Privacy statement, this website shall not create any legal relationship between you and Enron, unless you have signed a Password Application, in which case the Password Application and Electronic Trading Agreement, and all terms and conditions referred to therein, shall govern your access and utilization of this website.  Copies of the Electronic Trading Agreement may be obtained through the “Contact Us” Section of this website.
4.	This website is intended only for commercial enterprises in certain specified jurisdictions.  For European Union residents:  please note that Enron Europe Finance & Trading Limited is regulated to carry on investment business in the United Kingdom by the Securities and Futures Authority and has reviewed and approved the contents of this website for relevant regulatory purposes.  For Belgian residents:  please note that, pursuant to the Belgian law of 14 July 1991 on Commercial Practices, this website is to be considered as being advertising (reclame/publicité).
5.	This website and the information and material which it contains are subject to change at any time by Enron without notice and Enron reserves the right to suspend, terminate or restrict your access to or use of this website.  This website is provided “AS IS” without any warranty of any kind, express or implied, including, but not limited to, any implied warranty of merchantability, fitness for a particular purpose, accuracy or completeness of the information contained on this website or in respect of any materials or products referred to on this website, or noninfringement.  Enron does not warrant that the website is compatible with your equipment or that the website is free of errors, viruses or worms.  In no event shall Enron be liable for any damage you may suffer as a result of such destructive features. All warranties, whether express or implied, are hereby excluded to the extent permitted by law.
6.	Enron and its directors, officers, employees and agents shall, to the extent permitted by law, have no liability, contingent or otherwise, whether caused by the negligence of Enron, its employees, subcontractors, agents, Suppliers, or otherwise, to you or to third parties for the accuracy, timeliness, completeness, reliability, performance or continued availability of this website or for delays or omissions therein, including, but not limited to, inaccuracies or errors in or omissions from quotes and financial data.  Enron shall have no responsibility to maintain the information or services made available on this website or to supply any corrections or updates in connection with such information or services.  In no event will Enron, its Suppliers, or its third party agents be liable to you for any direct, special, indirect, incidental, punitive or consequential damages (including, without limitation, loss of business, loss of profit, loss or corruption of data, loss of goodwill or reputation or wasted management time) which may be incurred or experienced on account of your using or relying on this website or any information or links on it , even if Enron has been advised of the possibility of such damages.  Any limitations or restrictions on liability in this Legal and Privacy statement shall only apply to the extent permitted by applicable law.  In no event shall Enron’s total liability to you for all damages, losses and causes of action (whether in contract or tort, including but not limited to, negligence) exceed the amount paid by you to Enron, if any, for accessing this website.
7.	Nothing set forth in this website should be construed as a recommendation to purchase or sell any product or instrument or to enter into any transaction, or as a representation that any particular product or instrument is suitable or appropriate for you.  Many of the products described in this website involve significant risks and you should not enter into any transactions unless you fully understand all of these risks and have independently determined that the risks are acceptable to you and that the transactions are appropriate for you in light of your objectives, experience, financial and operational resources and other relevant circumstances.  For example, swaps present counterparty credit risks, the fact that there may be no liquid market for swaps and the risk of potentially unlimited payment obligations if prices move in an unfavorable direction.  Options, caps or floors also involve counterparty credit risks as well as the potential loss of the premium paid with no corresponding benefits.  Any discussion of risks contained in this website, however, should not be considered to be a disclosure of the risks of particular transactions, or a complete discussion of the risks which are mentioned.  
8.	You should not construe any of the material contained in this website as business, financial, investment, hedging, trading, legal, regulatory, tax or accounting advice and you should not make this website the primary basis for any trading decisions. In providing this website and entering into any transactions in the products described in this website, Enron is acting solely in the capacity of an arm's length contractual counterparty and not as a financial advisor or a fiduciary.  Under no circumstances should Enron be considered your advisor or fiduciary and, if you require advice with respect to the products identified in this website or any contemplated transactions, you should consult your own business, financial, accounting or legal advisors. 
9.	YOU MAY NOT COPY, REPRODUCE, RECOMPILE, DECOMPILE, DISASSEMBLE, REVERSE ENGINEER, DISTRIBUTE, PUBLISH, DISPLAY, PERFORM, MODIFY, UPLOAD TO, CREATE DERIVATIVE WORKS FROM, TRANSMIT OR IN ANY WAY EXPLOIT ANY PART OF THE WEBSITE, EXCEPT AS EXPRESSLY PROVIDED IN THE LEGAL AND PRIVACY STATEMENT. THE CONTENTS OF THE WEBSITE MAY NOT BE RECIRCULATED, REDISTRIBUTED OR PUBLISHED BY YOU WITHOUT ENRON' S PRIOR WRITTEN CONSENT. MODIFICATION OF THE WEBSITE CONTENT WOULD BE A VIOLATION OF ENRON'S COPYRIGHT AND OTHER PROPRIETARY RIGHTS.  YOU MAY NOT USE THIS WEBSITE FOR ANY ILLEGAL PURPOSE OR IN ANY MANNER INCONSISTENT WITH APPLICABLE LAW OR THIS LEGAL AND PRIVACY STATEMENT.  YOU MAY NOT OFFER ANY PART OF THE WEBSITE FOR SALE OR DISTRIBUTE IT OVER ANY OTHER MEDIUM INCLUDING BUT NOT LIMITED TO TELEVISION OR RADIO BROADCAST, A COMPUTER NETWORK OR HYPERLINK FRAMING ON THE INTERNET WITHOUT THE PRIOR WRITTEN CONSENT OF ENRON. YOU MAY NOT USE ANY OF ENRON'S TRADEMARKS, TRADE NAMES OR SERVICE MARKS IN A MANNER THAT SUGGESTS THAT SUCH NAMES AND MARKS BELONG TO OR ARE ASSOCIATED WITH YOU OR ARE USED WITH ENRON'S CONSENT, AND YOU ACKNOWLEDGE THAT YOU HAVE NO OWNERSHIP RIGHTS IN AND TO ANY OF THESE NAMES AND MARKS. YOU WILL NOT USE THE WEBSITE OR THE INFORMATION CONTAINED THEREIN IN UNSOLICITED MAILINGS OR SPAM MATERIAL. YOU WILL NOT SPAM OR SEND UNSOLICITED MAILINGS TO ANY PERSON OR ENTITY USING THE WEBSITE. YOU AGREE TO COMPLY WITH ANY OTHER APPLICABLE TERMS AND CONDITIONS SET FORTH ON THE WEBSITE. 
10.	This website may provide links to certain websites sponsored and maintained by third parties.  Such websites are publicly available and Enron is providing access to such websites through this website solely as a convenience to you.  The content of other websites, services, goods or advertisements that may be linked to this website is not maintained or controlled by Enron, and Enron makes no representations or warranties concerning the content of such websites and the fact that access to such websites is provided does not constitute any endorsement, authorization or sponsorship of such websites or their sponsors by Enron nor is there any affiliation between Enron and such sponsors and such sponsors do not endorse, authorize or sponsor this website.   Moreover, Enron is in no way responsible for the availability, content or accuracy of other websites, services or goods that may be linked to, or advertised on, the website and does not  make any warranty, express or implied, with respect to the use of the links provided on, or to, the website or guarantee the accuracy, completeness, usefulness or adequacy of any other websites, services, goods or advertisements that may be linked to the website. You understand and agree that you will use or rely on such websites solely at your own risk and that Enron does not grant to you any rights in respect of such websites.  
11.	When you use the website, access to certain news and information provided by Dow Jones & Company (the “Dow Jones Information”) may be made available to you.  The Dow Jones Information is the sole and exclusive property of Dow Jones or its licensor.  By accessing the Dow Jones Information, you agree to be bound by the following terms and conditions:
a.	Neither Dow Jones nor any of its licensors or affiliates guarantees the timeliness, sequence, accuracy or completeness of the Dow Jones information;
b.	THE DOW JONES INFORMATION IS PROVIDED “AS IS”.  NEITHER DOW JONES NOR ANY OF ITS LICENSORS OR AFFILIATES SHALL BE LIABLE TO YOU OR TO ANY OTHER PERSON FOR ANY LOSS OR DAMAGE ARISING FROM INACCURACIES, ERRORS, OMISSIONS, DELAYS, INTERRUPTIONS OR NON-PERFORMANCE DUE TO ANY NEGLIGENT ACT OR OMISSION OF DOW JONES OR ANY OF ITS LICENSORS OR AFFILIATES.;
c.	Neither Dow Jones nor any of its licensors or affiliates may be held liable for any discontinuance in the provision of the Dow Jones Information or for any change in the manner of distribution for any reason;
d.	The Dow Jones Information is made available solely for your personal use and you are prohibited from furnishing such information to any other person or entity;
e.	At any time, Dow Jones or its distributor may terminate your access to the Dow Jones Information; and
f.	Dow Jones is a third-party beneficiary under this Legal and Privacy stetement and is entitled to enforce the terms of this Legal and Privacy statement by legal proceeding or otherwise against you or any person or entity that gains access to the Dow Jones Information other than as this Legal and Privacy statement contemplates.  You shall pay the reasonable attorney’s fees that Dow Jones may incur in so enforcing the terms of this Legal and Privacy statement.
12.	Reuters content is the intellectual property of Reuters Limited.  Any copying, republication, or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.  Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereof.  Reuters, the Reuters Logo and the Sphere Logo are registered trademarks of the Reuters  group of companies around the world.  For additional information on other Reuters Services please visit the Reuters public web site - http://www.reuters.com.
13.	In the course of your use of this website, you may provide, or Enron may otherwise obtain, information about you or your business activities.  By using this website, you expressly consent to Enron (1) using this information to assess the function and performance of this website, to assess the needs of its customers, to market Enron’s products and services and for the other purposes set out in this paragraph 6, and (2) transferring this data to Enron subsidiaries throughout the world for the purposes specified in (1) above.  Any information which you provide or which Enron otherwise obtains will be used solely by Enron and will not be sold or made available to third parties, with the exception of the third parties providing data processing or similar services to Enron, or in connection with Enron’s provision or marketing of products and services to you.
14.	You agree that you will maintain the confidentiality of this website and that you will not disclose or provide access to this website or its contents to any person (other than your employees in connection with the performance of their duties to you), except as may be required by applicable law or regulation or by order of a court or regulatory or self-regulatory authority with jurisdiction over you.
15.	You agree, at your own expense, to indemnify, defend and hold harmless Enron and its employees, representatives, Suppliers and agents, against any claim, suit, action or other proceeding against Enron, its employees, representatives, Suppliers and agents, by a third party, to the extent that such claim, suit, action or other proceeding is based on or arises in connection with your use of the website, or any links on the website, including, but not limited to: (i) your use or someone using your computer's use of the website; (ii) your use or someone using any password you may obtain; (iii) a violation of the terms set forth in this Legal and Privacy statement by you or anyone using your computer or password; (iv) a claim that any use of the website by you or someone using your computer or password infringes any intellectual property right  of any third party, is libelous or defamatory, or otherwise results in injury or damage to any third party; (v) any deletions, additions, insertions or alterations to, or any unauthorized use of, the website by you or someone using your computer or password; (vi) any misrepresentation or breach of representation or warranty made by you contained herein: or (vii) any breach of any covenant or agreement to be performed by you hereunder. You agree to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.
16.	If you are accessing this website from the U.S., the terms of this Legal and Privacy statement shall be governed by the laws of the State of New York; if you are accessing this website from outside the U.S., its terms shall be governed by English law.