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Frequently Asked Questions - Topics - Pre-Auction Security

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Answers to Frequently Asked Questions are provided in this section. 

The first posting of FAQs is in August. The last posting of FAQs is in the latter part of January, after bidders are registered to participate in the Auctions. From that point, questions and answers are emailed directly to Registered Bidders and are not posted to the BGS Auction website. Questions that are not from Registered Bidders or their advisors are answered strictly as time permits.

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Application (3)
Association and Confidential Information Rules (49)
Auction Rules (1)
Credit (1)
Data (2)
General (9)
Pre-Auction Security (3)
Rates (1)
Supplier Master Agreement  (3)

Pre-Auction Security


If we present financial information for a Guarantor in the Part 1 Application and we are qualified on that basis, can we change the entity upon whose financial standing we are relying at a later time?

No.  The Auction Manager provides to each Qualified... Read Answer



Our bank is requiring the physical addresses of the EDCs for purposes of issuing a Pre-Auction Letter even though the bank will submit the Pre-Auction Letters of Credit to the EDCs and to the BGS Auction Manager as an electronic PDF file via electronic means only. Can you provide the physical addresses for the EDCs for purposes of issuing Pre-Auction Letters of Credit?

The Auction Manager provided contact information for each... Read Answer



When is the Pre-Auction Letter of Credit due?

The Pre-Auction Letter of Credit must be provided with the... Read Answer


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