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Indexed REC-46: When is the bid assurance collateral returned if we submit a Bid and the Project is selected and in the case the Project is not selected?

All bid assurance collateral remains in place until the Commission has rendered a decision on the results of the procurement event. If the Bid for a Project is selected by the evaluation procedure and approved by the Commission, bid assurance collateral remains in place until full execution of the Indexed REC Contract and posting of … Continue reading When is the bid assurance collateral returned if we submit a Bid and the Project is selected and in the case the Project is not selected?

BEC-48: When and under what circumstances will the cash posted as bid assurance collateral for the Fall 2022 BEC RFP be returned?

All bid assurance collateral remains in place until the Commission has rendered a decision on the results of a procurement event. For Bidders with Bids approved by the Commission, bid assurance collateral remains in place until full execution of the applicable supplier contract and until payment of the Supplier Fee is received. Return of cash … Continue reading When and under what circumstances will the cash posted as bid assurance collateral for the Fall 2022 BEC RFP be returned?

BEC-34: Can we propose modifications to the Standard Pre-Bid Letters of Credit during the Fall 2022 Block Energy and Capacity RFP?

The Procurement Administrator will not be soliciting comments on the Standard Pre-Bid Letters of Credit in the Fall 2022 Block Energy and Capacity RFP. A Bidder that is submitting Bids for the Fall 2022 Block Energy procurement event for a Company must, in its Part 2 Proposal, submit financial guarantees by providing either cash or … Continue reading Can we propose modifications to the Standard Pre-Bid Letters of Credit during the Fall 2022 Block Energy and Capacity RFP?

BEC-21: If we have Bids approved as winning Bids by the ICC, will the cash posted as bid assurance collateral be returned in full before we meet the creditworthiness requirements under the applicable supplier contract?

Cash posted as bid assurance collateral will not be netted against the creditworthiness requirements under the applicable supplier contract. Under the Block Energy and Capacity RFP, each Company initiates the return of the posted cash for a Bidder with Bids approved by the Commission once: (1) you have fully executed the applicable supplier contract and … Continue reading If we have Bids approved as winning Bids by the ICC, will the cash posted as bid assurance collateral be returned in full before we meet the creditworthiness requirements under the applicable supplier contract?