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BEC-28: What are the instructions for submitting the Pre-Bid Letter of Credit in order to bid on AIC Capacity Products?

A Bidder must provide financial guarantees by providing either cash or an executed Pre-Bid Letter of Credit for AIC Capacity Products, drawn for the account of the Bidder. The Pre-Bid Letter of Credit must be in the form of the Standard Pre-Bid Letter of Credit for AIC Capacity Products or incorporate only modifications approved by … Continue reading What are the instructions for submitting the Pre-Bid Letter of Credit in order to bid on AIC Capacity Products?

BEC-21: Our bank is requiring the physical address of a Beneficiary for purposes of issuing a Pre-Bid Letter for a Company even though the bank will submit the Pre-Bid Letter of Credit to a Company and to the Procurement Administrator as an electronic PDF file via electronic means only. Can you provide the physical addresses for the Companies for purposes of issuing Pre-Bid Letters of Credit?

Please email the Procurement Administrator at Illinois-RFP@nera.com to receive this information.

BEC-20: 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 Spring 2024 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 Spring 2024 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-18: Can you provide instructions for submission of bid assurance collateral?

The Bid Assurance Collateral Instructions for each Company will be distributed to Bidders shortly after the Part 1 Date, which is March 25, 2024. The instructions will include both information on how to submit cash as bid assurance collateral to the Companies as well as how to transmit the Pre-Bid Letter of Credit to the … Continue reading Can you provide instructions for submission of bid assurance collateral?

BEC-16: Can we use the Standard Pre-Bid Letters of Credit issued under the Fall 2023 BEC RFP for this Spring 2024 BEC RFP?

No. A Bidder that is submitting Bids for the Spring 2024 Block Energy procurement event for a Company must, in its Part 2 Proposal, submit financial guarantees by providing either cash or a Pre-Bid Letter of Credit for that Company. The Pre-Bid Letter of Credit must be in the form of the Standard Pre-Bid Letter … Continue reading Can we use the Standard Pre-Bid Letters of Credit issued under the Fall 2023 BEC RFP for this Spring 2024 BEC RFP?

Indexed REC-31: 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-28: 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?