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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.  The deadline for proposing modifications is 12 PM (noon) (EPT) on Tuesday, October 23, 2018.

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 only need to 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.

Preliminary lists of modifications to the BGS-CIEP Pre-Auction Letter of Credit, the BGS-RSCP Pre-Auction Letter of Credit, and the Post-Auction Letter of Credit from prior comment processes that remain acceptable to the EDCs are available on the Contract & Credit page. Please refer to these documents when preparing comments. The names of the documents are:

  • “Preliminary ACCEPTABLE Modifications to the Sample Pre-Auction Letters of Credit for BGS-CIEP Bidders”
  • “Preliminary ACCEPTABLE Modifications to the Sample Pre-Auction Letters of Credit for BGS-RSCP Bidders”
  • “Preliminary ACCEPTABLE Modifications to the Sample Post-Auction Letters of Credit”

October 12, 2018.

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