I understand that 10% of the contract value is due upon signing the AIC Capacity Agreement. Can the $200,000 Pre-Bid Letter of Credit be used for that purpose or are they two separate requirements?

The two requirements are separate. Each Bidder participating in the AIC Capacity procurement event is required to submit a Pre-Bid Letter of Credit in an amount of $200,000 to support its Bids. This Pre-Bid Letter of Credit will expire as part of its terms after contract execution and payment of the supplier fees. This Pre-Bid Letter of Credit cannot be used to meet the performance assurance under the terms of the AIC Capacity Agreement. The performance assurance is 10% of contract price x ZRCs won x 365 days.

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BE-52: I understand that 10% of the contract value is due upon signing the AIC Capacity Agreement. Can the $200,000 Pre-Bid Letter of Credit be used for that purpose or are they two separate requirements?