BEC-31: When are the required documents for a Bidder relying on the financial standing of a Foreign Entity as RFP Guarantor and intending to bid on ComEd Products and/or Combinations required to be provided?

A Bidder that intends to bid on ComEd Products and/or Combinations and is relying on a Foreign Entity as RFP Guarantor must submit the required documents described in Schedule 2B to the Collateral Annex with the Part 2 Proposal. The Part 2 Proposal is due on Thursday, September 01, 2022.

The legal opinion submitted with the Part 2 Proposal must meet all of the requirements in Schedule 2B to the Collateral Annex. In such legal opinion, the recitation of the documents that have been reviewed by counsel as the basis for the opinions expressed may refer the Final ComEd Energy Master Agreement documents posted on July 12, 2022 and available on the procurement website. The recitation should contain a complete list the documents reviewed and contain a link to the documents referenced.

If the Bidder has winning Bids in the Fall 2022 BEC RFP, ComEd will send prepare and send to the Bidder the Guaranty for execution. At that time, in order for ComEd to fully recognize the value of the Guaranty from a foreign entity, ComEd will require an Officer Certification that the Legal Opinion provided with the Part 2 Proposal has not materially changed and that ComEd may rely upon the Guaranty for satisfaction of any obligations that may arise under the terms of the Guaranty.

Additionally, please note that a Bidder may, but is not required to, submit a draft of the documents required under Schedule 2B to the Collateral Annex with its Part 1 Proposal. If a Bidder submits a draft for evaluation with its Part 1 Proposal, the Procurement Administrator will provide the results of this evaluation, including notice of any changes required to the documents for final submission with the Bidder’s Part 2 Proposal, with the Part 1 Notification. Any evaluation communicated to the Bidder of such draft documents is final. The Bidder cannot submit a subsequent request for changes on the basis of this evaluation.

Lastly, ComEd will evaluate the sufficiency of the documents submitted by the Bidder with the Part 2 Proposal in its sole and absolute discretion, without liability or recourse by the RFP Guarantor or the Bidder.