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INVITATION: Comment Process for Letters of Credit

Potential bidders are invited to propose modifications to the standard forms of the Pre-Auction Letter of Credit and the standard form of the Post-Auction Letter of Credit used as security during the term of the BGS Supplier Master Agreement. 

Potential bidders may download the MS Word format of the Draft Pre-Auction Letters of Credit and the Draft Post-Auction Letter of Credit from the Contract & Credit page. For a complete description of the comment process, please refer to the document titled “Comment Process on the Letters of Credit (Pre-Auction and Post-Auction)” also posted on the Contract & Credit page.

The exclusive method for submitting proposed modifications to a Letter of Credit is as a redline MS Word document of the Draft Letter of Credit. Potential bidders send the redlined Draft Letter of Credit and/or the redlined Draft Post-Auction Letter of Credit by email to the BGS Auction Manager at the following address: BGS-Auction@nera.com.

Potential bidders planning to participate in both the BGS-CIEP Auction and the BGS-RSCP Auction need only provide comments for one Pre-Auction Letter of Credit (not both). Any modifications proposed and accepted for the Pre-Auction Letter of Credit for the BGS-CIEP Auction will also be accepted for the Pre-Auction Letter of Credit for the BGS-RSCP Auction, and vice versa.

The deadline for proposing modifications is 12PM (noon) (EPT) on Tuesday, October 24, 2017.

September 13, 2017.

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