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Frequently Asked Questions - #59

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If a Qualified Bidder has an Advisor, should this Qualified Bidder put in place confidentiality agreements in advance of the Part 2 Application?  Why are such confidentiality agreements necessary?

Confidentiality agreements are prudent in general given that the Qualified Bidder is providing confidential information to someone from outside its organization.  Furthermore, the Qualified Bidder is responsible for any failure on the part of the Advisor to maintain the confidentiality of the information.  Such failure may result in sanctions, including forfeiture of the Pre-Auction Letter of Credit and disbarment for participation in future BGS Auctions.  Confidentiality agreements, as well as any other protections that the Qualified Bidder wishes to put in place, are required whenever an Advisor may be in a position to serve as a conduit of information between Qualified Bidders.  Such would be the case if the Advisor has contact with more than one Qualified Bidder.

11/15/2021, in Association and Confidential Information Rules.

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