With reference to #P1-6 ComEd Contract Insert, Section 1, item (j) requires the bidder to elect either:
— (Option A) for any Performance Assurance in the form of cash to be held by a Qualifying Institution; or:
— (Option B) for ComEd to hold any Performance Assurance in the form of cash.
Under Option A, cash is not held by ComEd, but by a Qualifying Institution and the REC Supplier will receive interest and will be responsible for all fees associated with the Performance Assurance posted. Under Option B, Performance Assurance in the form of cash will be held by ComEd and the REC Supplier will not receive interest for the Performance Assurance posted.
The election is at the option of the bidder and will apply to Section VI, Subsection B of Paragraph 10 to the Collateral Annex as modified in the Cover Sheet. This election is applicable if the REC Supplier posts Performance Assurance in the form of cash or in the event the Letter of Credit is drawn upon.