How does the Letter of Credit provided with the Part 2 Proposal convert into the Letter of Credit to meet the Collateral Requirement under the REC Contract?

The Letter of Credit provided with the Part 2 Proposal to support the bid will expire as part of its terms and does not convert to covering the Collateral Requirement during the term of the REC Contract. If the bidder is a winning bidder in the RFP and uses a Letter of Credit to meet the Collateral Requirement during the term of the REC Contract, this Letter of Credit is a separate instrument that has different terms from the Letter of Credit provided with the Part 2 Proposal.

Revised 8-01-2017 first posted 6-28-2017

Announcements

W&S-47: How does the Letter of Credit provided with the Part 2 Proposal convert into the Letter of Credit to meet the Collateral Requirement under the REC Contract?