I am reading LOA 16-01 in the contract regarding lost OT flying.

As per paragraph i. On page 264. If I want to be paid the premium override. I must notify crew scheduling that I am available. I am then subject to reassignment for the duration of the day or 4 hours which ever is less and I am subject to a report time of 30 minutes.

Am I reading this right if I want to be paid the premium I need to go play airport standby for 4 hours?

This has only happen to me one other time. Under advisement from a peer I called scheduling noon the day prior and they said I was released. But in digging into the LOA that doesnt really sound like it was in compliance with the LOA. It was to my benefit.

Thoughts?

-Keep the dirty side down