The deadline to submit an alternate form of guaranty and all required documentation, for both new alternate forms of guaranty and renewal of previously approved alternate forms of guaranty, is 12 PM (noon) EPT on Friday, November 4, 2022. All documents must be submitted by email to the BGS Auction Manager at the following address: BGS-Auction@nera.com.
The BGS Auction Manager posted an updated Alternate Guaranty Process document to the Contract & Credit page on November 1, 2022. The updated document provides sample language included by the EDCs for the purpose of clarifying certain aspects of the minimum requirements for alternate forms of guaranty.
The alternate form of guaranty must meet the requirements specified in the Alternate Guaranty Process document. In particular, the Guaranty must not be subject to any monetary limit. A potential bidder that had secured approval for an alternate form of guaranty from one of the last five (5) BGS Auctions may follow an abbreviated approval process, also detailed in the Alternate Guaranty Process document.
The BGS Auction Manager posted a detailed timetable for the Alternate Guaranty Process to the Contract & Credit page of the BGS Auction Website on October 26, 2022.
November 1, 2022.