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BEC-27: Can the Issuing Bank request that the Pre-Bid Letter of Credit for a Company be cancelled before the Expiration Date?

The Issuing Bank may request that the Pre-Bid Letter of Credit for a Company be cancelled before the Expiration Date but after the ICC renders its decision on the results of a procurement event if either: 1) the Bidder is a winning Bidder, the applicable supplier contract and related documents have been executed, the Bidder … Continue reading Can the Issuing Bank request that the Pre-Bid Letter of Credit for a Company be cancelled before the Expiration Date?

BEC-24: Is cash an acceptable alternative to the Pre-Bid Letter of Credit under the Block Energy and Capacity RFP?

Bid assurance collateral must be provided in the form of a letter of credit.  The Bidder must either use the Standard Pre-Bid Letter of Credit provided as an Appendix to the RFP Rules, or the Bidder must submit a Pre-Bid Letter of Credit that incorporates only those modifications to the Standard Pre-Bid Letter of Credit … Continue reading Is cash an acceptable alternative to the Pre-Bid Letter of Credit under the Block Energy and Capacity RFP?

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-9: When are comments on the Standard Pre-Bid Letter of Credit for ComEd for the Fall 2021 Block Energy and Capacity procurement event due?

The Procurement Administrator will not be soliciting comments on the Standard Pre-Bid Letter of Credit for ComEd in the Fall 2021 Block Energy and Capacity RFP. A Bidder that is submitting Bids for the Fall 2021 Block Energy procurement event for ComEd must, in its Part 2 Proposal, submit a Pre-Bid Letter of Credit for … Continue reading When are comments on the Standard Pre-Bid Letter of Credit for ComEd for the Fall 2021 Block Energy and Capacity procurement event due?

Archived-BEC-51: When can a Bidder provide comments on or propose modifications to the Standard Pre-Bid Letter of Credit for each Company?

Bidders had the opportunity to provide comments on or propose modifications to the Standard Pre-Bid Letter of Credit for each Company with the Part 1 Proposal. On March 15, 2021, the Procurement Administrator posted the final lists of acceptable modifications to the Pre-Bid Letters of Credit to the Final Materials page under each of Appendices … Continue reading When can a Bidder provide comments on or propose modifications to the Standard Pre-Bid Letter of Credit for each Company?