Announcements


BEC-27: If I choose to rely on the financial standing of a Guarantor with the Part 1 Proposal, am I required to submit a letter of intent to provide a guaranty as part of my bid assurance collateral with the Part 2 Proposal?

With the Part 2 Proposal, a Bidder that intends to submit Bids for a procurement event must submit bid assurance collateral in the form of either cash or an executed Pre-Bid Letter of Credit to that Company for that procurement event in an amount sufficient to support the Bids. A letter of intent to provide a guaranty is not a requirement of the BEC RFP.

The contract execution process is fully described in Paragraph VI.2.18 of the RFP Rules and summarized below.

If a Bidder relies on the financial standing of a Guarantor and has winning Bids for a procurement event for AIC, the Bidder must prepare and provide a fully executed Guaranty to AIC electronically by 12 PM CPT on the third business day after the ICC decision. The Bidder must use the standard form of guaranty, Form of Guaranty, and may incorporate the optional changes for AIC. The optional changes for AIC are in the documents named “Schedule 1 to the Form of Guaranty” and “Schedule 2 to the Form of Guaranty”. A Bidder may also meet the collateral requirements of the (AIC) Capacity Agreement by posting cash or using one of two options for the Post-Bid Letter of Credit. All documents referenced are posted to the Final Materials page of the procurement website under the “FINAL Fall 2023 (AIC) Capacity Agreement” heading and dated July 18, 2023.

If a Bidder relies on the financial standing of a Guarantor and has winning Bids for ComEd, the Bidder must execute the Guaranty prepared by ComEd by 12 PM CPT on the third business day after the ICC decision. ComEd prepares the standard form of guaranty, Schedule 2 to Collateral Annex (Guaranty), in accordance with the elections and the optional changes the Bidder provides via the ComEd Contract Insert (#P1-5). The optional changes for ComEd are in the document named “Optional Changes to the Form of Guaranty”. A Bidder may also meet the collateral requirements of the (ComEd) Master Agreement by posting cash or using one of two options for the Post-Bid Letter of Credit available under each of the applicable supplier contracts. All documents referenced are posted to the Final Materials page of the procurement website under the “FINAL Fall 2023 (ComEd) Energy Master Agreement” heading and dated July 18, 2023.