Our understanding is that the Pre-Bid Letters of Credit require same day payment. Is it acceptable to modify the timing to allow three days for payment?

The Pre-Bid Letters of Credit require same day payment for a drawing that is presented prior to 11 AM (Eastern Prevailing time). Payment at the opening of the next business day is required for drawings presented after 11 AM (Eastern Prevailing Time). There is no acceptable modification to this paragraph (Paragraph 5) that allows three business days for payment.

Please note that if you elect to submit your bid assurance collateral as a Pre-Bid Letter of Credit for a Company, you must use the Standard Pre-Bid Letter of Credit for that Company provided as an appendix to these RFP Rules or include only those modifications to the Standard Pre-Bid Letter of Credit acceptable to that Company and posted to the procurement website. The final list of acceptable modifications is posted to the Final Materials page of the Wind and Solar section of the procurement website.

Announcements

W&S-200: Our understanding is that the Pre-Bid Letters of Credit require same day payment. Is it acceptable to modify the timing to allow three days for payment?