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BEC-33: Can we provide our draft Pre-Bid Letter of Credit for a Company, with modifications, for review prior to our bank issuing a final executed Pre-Bid Letter of Credit?

The Procurement Administrator will not be soliciting comments on the Standard Pre-Bid Letters of Credit in the Fall 2023 Block Energy and Capacity RFP. Further, neither the Procurement Administrator nor the Companies review draft language for the Pre-Bid Letters of Credit. A Bidder that is submitting Bids for the Fall 2023 Block Energy procurement event … Continue reading Can we provide our draft Pre-Bid Letter of Credit for a Company, with modifications, for review prior to our bank issuing a final executed Pre-Bid Letter of Credit?

BEC-28: Is it acceptable for a U.S. agency office of a foreign bank to issue the Pre-Bid Letter of Credit?

A bank issuing a Pre-Bid Letter of Credit must meet the requirements listed in Paragraph 14 of the Standard Pre-Bid Letters of Credit or incorporate only modifications approved by a Company and posted to the procurement website. The final Standard Pre-Bid Letters of Credit and the final lists of acceptable modifications to the Pre-Bid Letters … Continue reading Is it acceptable for a U.S. agency office of a foreign bank to issue the Pre-Bid Letter of Credit?

BEC-27: If I choose to rely on the financial standing of a Guarantor with the Part 1 Proposal, am I required to submit a letter of intent to provide a guaranty as part of my bid assurance collateral with the Part 2 Proposal?

With the Part 2 Proposal, a Bidder that intends to submit Bids for a procurement event must submit bid assurance collateral in the form of either cash or an executed Pre-Bid Letter of Credit to that Company for that procurement event in an amount sufficient to support the Bids. A letter of intent to provide … Continue reading If I choose to rely on the financial standing of a Guarantor with the Part 1 Proposal, am I required to submit a letter of intent to provide a guaranty as part of my bid assurance collateral with the Part 2 Proposal?

Indexed REC-63: Is it acceptable to use any of the modifications listed in the final lists of acceptable modifications posted to the procurement website? Can multiple modifications be used?

Yes, you may use any of the modifications included in the final lists of acceptable modifications posted to the procurement website. It is acceptable to use multiple approved modifications from the final lists of acceptable modifications posted to the procurement website. In some cases it may be required to use multiple approved modifications together. In … Continue reading Is it acceptable to use any of the modifications listed in the final lists of acceptable modifications posted to the procurement website? Can multiple modifications be used?

Indexed REC-61: Can we provide draft versions of the Pre-Bid Letter of Credit for a Company for review prior to our bank issuing the final executed version?

Neither the Procurement Administrator nor the Companies review draft versions of Pre-Bid Letters of Credit. However, upon request the Procurement Administrator can confirm the amount of bid assurance collateral required to be posted with each company given the Project size. If the submitted Pre-Bid Letter of Credit for any of the Companies, in its current … Continue reading Can we provide draft versions of the Pre-Bid Letter of Credit for a Company for review prior to our bank issuing the final executed version?

Indexed REC-53: If a Bidder posts bid assurance collateral for a project, but ultimately does not submit a bid for the project, is the full amount of the bid assurance collateral returned?

If a Bidder posts bid assurance collateral and does not submit a Bid, the full amount of the bid assurance collateral will be returned within the timeframes provided in the Indexed REC RFP. All bid assurance collateral remains in place until the Commission has rendered a decision on the results of the procurement event. The … Continue reading If a Bidder posts bid assurance collateral for a project, but ultimately does not submit a bid for the project, is the full amount of the bid assurance collateral returned?

Indexed REC-49: If the Bidder submits a Pre-Bid Letter of Credit as Bid Assurance Collateral to all three Companies what Inserts are required to be submitted as part of the Part 2 Proposal? Are the Cash Inserts for each Company still required?

A Bidder that provides a Pre-Bid Letter of Credit as Bid Assurance Collateral to all three Companies is not required to complete the AIC Cash Insert (#P2-1), ComEd Cash Insert (#P2-2), or the MEC Cash Insert (#P2-3). As part of the Part 2 Proposal, Bidders must complete the online Part 2 Form in its entirety, … Continue reading If the Bidder submits a Pre-Bid Letter of Credit as Bid Assurance Collateral to all three Companies what Inserts are required to be submitted as part of the Part 2 Proposal? Are the Cash Inserts for each Company still required?