17: Why are there two different letters of credit for each Company (a pre-bid letter of credit and a post-bid letter of credit)?

The pre-bid letter of credit and post-bid letter of credit each serve a different purpose and have different terms and conditions for drawing.

The post-bid letter of credit is appended to the applicable Energy Master Agreement and may be used to fulfill the creditworthiness requirements under the Energy Master Agreement.  The pre-bid letters of credit, which are appended to the RFP Rules as Appendix 7 and Appendix 8 for Ameren Illinois Company and the Commonwealth Edison Company respectively, serve as bid assurance collateral.  A pre-bid letter of credit must be in an amount sufficient to support the bids and if it is not, the bidder will have to agree that the Procurement Administrator may amend the bid form so that the pre-bid letter of credit is sufficient.