A Bidder must provide financial guarantees by providing either cash or an executed Pre-Bid Letter of Credit for AIC Capacity Products, drawn for the account of the Bidder. A Pre-Bid Letter of Credit for AIC Capacity Products must be submitted from the issuing bank to AIC and to the Procurement Administrator as an electronic PDF file via electronic means. The electronic PDF file of the Pre-Bid Letter of Credit for AIC Capacity Products serves as the operative instrument.
Beginning with the Spring 2022 Block Energy and Capacity RFP (“BEC RFP”), Bidders have the option to submit cash as bid assurance collateral. A Bidder that elects to submit cash as bid assurance collateral must send additional documents listed in Section V.6. of the RFP Rules to the Procurement Administrator including a W-9 for the entity providing cash as bid assurance collateral and a draft request for the return of cash.
Detailed instructions for the submission of bid assurance collateral for the Fall 2022 BEC RFP were distributed to Bidders on August 16, 2022.