The security requirements under the REC contracts are distinct from the requirement to provide a Pre-Bid Letter of Credit with the Part 2 Proposal. The requirement for a Pre-Bid Letter of Credit with the Part 2 Proposal applies to all Bidders.

The requirements of the Part 2 Proposal to bid RECs for a Company related to the Pre-Bid Letter of Credit are for: (i) the Bidder to provide an executed Pre-Bid Letter of Credit for a Company; (ii) for the Pre-Bid Letter of Credit to be either in the standard form or include only those modifications found acceptable by that Company and posted to the procurement website; and (iii) for the Pre-Bid Letter of Credit to be drawn for the account of the Bidder. If the Pre-Bid Letter of Credit is not drawn for the account of the Bidder, an amendment will be required.

More specifically, we note that the applicant under the Pre-Bid Letter of Credit may be an entity or individual other than the entity participating in this RFP. However, the entity participating in the RFP must be identified as the “Bidder” in the Pre-Bid Letter of Credit. For example, it is acceptable for the other entity or individual also to be identified in Paragraph 2 as follows:

(i) This Letter of Credit is issued at the request and for the account of ANOTHER ENTITY on behalf of ENTITY PARTICIPATING IN THE RFP (including its successors and assigns, the “Bidder”); or (ii) This Letter of Credit is issued at the request and for the account of ANOTHER ENTITY for ENTITY PARTICIPATING IN THE RFP (including its successors and assigns, the “Bidder”); or (iii) This Letter of Credit is issued at the request and for the account of ANOTHER ENTITY the parent of ENTITY PARTICIPATING IN THE RFP (including its successors and assigns, the “Bidder”) ; or (iii) This Letter of Credit is issued at the request and for the account of INDIVIDUAL of ENTITY PARTICIPATING IN THE RFP (including its successors and assigns, the “Bidder”).