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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?

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?