Announcements


W&S-211: Can we use cash posted as bid assurance collateral toward meeting the Collateral Requirement under the REC Contract?

The return of cash tendered as bid assurance collateral can only occur after the REC Contract is fully executed, the Collateral Requirement has been met, and the Supplier Fees have been paid. If the cash posted as bid assurance collateral were used for the Collateral Requirement, there would be no bid assurance collateral to serve as guarantee for payment of the Supplier Fees by the Bidder or Seller.  In other words, the Collateral Requirement must be posted prior to the time when the bid assurance collateral can be fully released.  For that reason, a Bidder that submitted cash as bid assurance collateral also was required to submit a request for each Company for the return of cash for the full amount of the bid assurance collateral.