It is stated that bid assurance collateral is returned “at the conclusion of the procurement event.” Does this mean right after the REC award process (in December 2019), or at the end of the 15 year REC Contract?

If a Bidder does not have projects that are selected by the evaluation and for which bids are approved by the Commission, the bid assurance collateral will be returned after the Commission decision on the procurement event (December 2019). If the Bidder has projects that are selected by the evaluation for which bids are approved by the Commission, the bid assurance collateral will be returned once the Bidder executes the REC Contracts, pays the supplier fees, and posts any required Collateral Requirement under the terms of the REC Contracts (by February 2020).

Announcements

CRG-15: It is stated that bid assurance collateral is returned “at the conclusion of the procurement event.” Does this mean right after the REC award process (in December 2019), or at the end of the 15 year REC Contract?