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| FAQ-123. What are the submission instructions for providing a bid bond as pre-auction security?
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The Bid Bond must be submitted as an electronic PDF file... Read Answer
1/14/2021.
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| FAQ-122. Which email address should we use in Paragraph 12 of the Pre-Auction Letters of Credit?
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The BGS Auction Manager’s email,... Read Answer
1/11/2021.
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| FAQ-121. Is there an alternative to posting a Pre-Auction letter of Credit?
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Each Qualified Bidder must provide a Pre-Auction Letter of... Read Answer
1/7/2021.
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| FAQ-120. Can we add a paragraph 15 to the Pre-Auction Letter of Credit that would read as follows:
"15. THIS LETTER OF CREDIT MAY BE SIGNED BY THE ISSUING BANK WITH EITHER A DIGITAL OR ORIGINAL SIGNATURE, EITHER OF WHICH SHALL BE LEGALLY-VALID AND ENFORCEABLE. THE ISSUING BANK MAY TRANSMIT THIS LETTER OF CREDIT TO THE BENEFICIARY BY MAIL, FAX OR ELECTRONIC TRANSMISSION. FOR THE AVOIDANCE OF DOUBT, ANY ELECTRONIC PDF VERSION OF THIS LETTER OF CREDIT RECEIVED BY THE BENEFICIARY SHALL BE AN OPERATIVE INSTRUMENT AND MAY BE USED BY THE BENEFICIARY AS IT WOULD A HARDCOPY ORIGINAL."
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The proposed paragraph states that the bank may transmit a... Read Answer
1/7/2021.
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| FAQ-119. Would it be acceptable for our bank to clarify in the first sentence of Paragraph 6 that a copy of the Pre-Auction Letter of Credit will NOT be returned to the bank upon cancellation?
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Yes, it is acceptable for Paragraph 6 to read “This... Read Answer
1/7/2021.
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| FAQ-115. Is cash an acceptable form of pre-auction security?
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Cash is not acceptable as pre-auction security.
Read Answer
12/30/2020.
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| FAQ-111. Would it be acceptable for our bank to add the below address for informational purposes only, in place of and similar to the EDC addresses provided in acceptable modification B.6 in the List of Acceptable Modification posted to the BGS Auction website?
To: the Electric Distribution Companies (“EDCs”)
c/o NERA Economic Consulting (“NERA”)
BGS Auction Manager
One Gateway Center, Suite 720
Newark, NJ 07102
THIS ADDRESS FOR INFORMATIONAL PURPOSES ONLY
NOT A DELIVERY ADDRESS – Letter of Credit delivered electronically only to NERA
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This is acceptable. The intent of acceptable... Read Answer
12/24/2020.
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| FAQ-110. For Qualified Bidders that submit a Letter of Intent to Provide a Guaranty, must the statement from the Guarantor be completed using a digital signature or are there alternate acceptable methods?
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The Letter of Intent to Provide a Guaranty includes two... Read Answer
12/24/2020.
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| FAQ-106. If we are electing to use digital signatures on our Inserts, what should we provide as “an additional document or information that can be used by the BGS Auction Manager to verify the identity of the signatory”?
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Applicants that elect to complete an Insert with a digital... Read Answer
12/14/2020.
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| FAQ-105. Is information provided in the bidder’s application and bidder-specific activity during the Auction under confidentiality provisions in the BGS Auctions?
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The BGS Auctions are held under a process proposed by the... Read Answer
12/14/2020.
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| FAQ-104. Can we submit the Part 2 Inserts during the Part 1 Window for early processing?
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There is no option for early processing of the Part 2... Read Answer
12/14/2020.
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| FAQ-103. At what point in the qualification and auction process do bidders that are part of a bidding agreement need to elect which entity will execute the contract?
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If Joint Bidder wins at the auction, it may be the case... Read Answer
12/9/2020.
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| FAQ-102. Is there a point after which a bidder is required to submit a bid in the auctions for which it has registered?
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At no point in the auction process does a bidder become... Read Answer
12/9/2020.
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| FAQ-101. Can a parent corporation qualify two of its entities in the Part 1 Application process? How would these entities proceed through the application process if only one of the two entities is expected to sign the Supplier Master Agreement (but it is not known at this time which entity would be selected)?
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If a parent corporation puts forward two affiliated... Read Answer
12/9/2020.
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| FAQ-100. We participated in previous BGS Auctions and want to change the account holder who receives the login credentials to access the online Part 1 Application Form. How can we make that change?
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Each year on or before the opening of the online Part 1... Read Answer
12/7/2020.
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| FAQ-98. If an applicant is not seeking unsecured credit, is the applicant required to submit the financial information requested by the Part 1 Application?
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Yes. It is a requirement of the Part 1 Application... Read Answer
12/7/2020.
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| FAQ-94. Can we provide an “evergreen” pre-auction letter of credit (we would amend the amount to $1 at the end of the auction and leave the pre-auction letter of credit in place for the next auction)?
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No. The BGS Auctions occur annually and the pre-auction... Read Answer
12/7/2020.
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| FAQ-43. When is the Pre-Auction Letter of Credit due?
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The Pre-Auction Letter of Credit is due with the Part 2... Read Answer
11/12/2020.
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| FAQ-38. How do I express interest to participate in the BGS Auctions?
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There is no deadline specifically to submit an Expression... Read Answer
10/29/2020.
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