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The optional changes to the Pre-Bid Letter of Credit are in a document entitled "ACCEPTABLE modifications to the Pre-Bid Letters of Credit - Final", available here and posted to the Documents & Data page. 2/27/2008, in Standard Products RFP.
You would explain your situation in the Justification of Omissions. Please note, however, that the Bid Participation Fee must be received in order for a Bidder to qualify for the RFP. 2/27/2008, in Standard Products RFP.
No, the exclusive method for submitting security to support your Bids is through the Pre-Bid Letter of Credit. We apologize for this typographical error. "Amount of Pre-Auction Letter of Credit (or Bid Bond)" should read "Amount of the Pre-Bid Letter of Credit".2/27/2008, in Standard Products RFP.
If you elect a fixed Guaranty amount, there is no explicit provision enabling you to reduce that amount short of cancellation and replacement that does not involve ComEd discretion. However, paragraph 9 of the Guaranty allows for changes upon mutual agreement. ComEd will agree to changes in the Guaranty amount either up or down so long as the revised amount in combination with other performance assurance results in the supplier meeting all credit requirements at that time. ComEd’s willingness to make such an adjustment would apply to the time immediately following the award, recognizing that this will be a busy time and priority will need to be given to ensuring that contracts with all bidders are executed in a timely fashion. If you elect the option that states "in no event exceed the Seller's Exposure Amounts less the value of other liquid securities posted by the Seller under the Agreement(s)" then the value of the Guaranty will self-adjust, based on the net of Exposure, less other posted collateral. 2/27/2008, in Standard Products RFP.
We are unaware of any articulated limits on the ICC’s discretion in regard to selecting which bids are ultimately winning bids. We are certain, however, that the approval process is not viewed to be all or none. While it may be possible to infer or interpret from the Act and statutory construction in Illinois limits on the ICC’s authority with respect to approval, that would involve considerable judgment and you would have to undertake that exercise with your counsel. The Act is available here on the Illinois General Assembly Web site.2/27/2008, in Standard Products RFP.
Two business days are allowed for this. Please see page 40 of the February 15, 2008 Bidder Information Session presentation, available here. The intent is that notification that a bid has been evaluated will be given by 6 pm CPT on March 5, 2008 and notification as to whether a bid is being recommended for acceptance will be given by noon CPT on March 6, 2008. Bids are submitted on March 5. Notices will be provided as soon as possible and may come before these times. The ICC will receive reports from the Procurement Administrator and Procurement Monitor on March 7, 2008 and will render a decision on March 11, 2008. You will be notified on March 11, 2008 as soon as practical after the decision has been rendered as to the final disposition of your Bids.2/27/2008, in Standard Products RFP.
Please see page 40 of the February 15, 2008 Bidder Information Session presentation, available here. The intent is that notification that a bid has been evaluated will be given by 6 pm CPT on March 5, 2008 and notification as to whether a bid is being recommended for acceptance will be given by noon CPT on March 6, 2008. Bids are submitted on March 5, 2008. Notices will be provided as soon as possible and may come before these times. The ICC will receive reports from the Procurement Administrator and Procurement Monitor on March 7, 2008 and will render a decision on March 11, 2008. You will be notified on March 11, 2008 as soon as practical after the decision has been rendered as to the final disposition of your Bids.2/27/2008, in Standard Products RFP.
The issuer of the Pre-Bid Letter of Credit must meet the credit rating required by the Pre-Bid Letter of Credit.2/27/2008, in Standard Products RFP.
The Pre-Bid Letter of Credit must be sufficient to support the Maximum Quantity, which is the sum of the maximum willingness to supply of the RFP Bidder across all months and Segments. On page 9 of the Part 2 Form, there is a worksheet that that can be used to calculate the Maximum Quantity by indicating and summing the maximum willingness to supply for each Segment and each month. The maximum willingness to supply for a Segment of a month is a maximum number of blocks that an RFP Bidder is willing to supply for that Segment and that month, whether supplying that Segment and that month comes from a winning Bid on a Product (a single month on-peak or off-peak) or whether supplying that Segment and that month comes from a winning Bid on a Combination (a group of months on-peak or off-peak). If a Bidder bids on 10 blocks of each of the 24 Products, and does not bid on any Combinations, and if the Bidder indicates that its maximum willingness to supply is 10 blocks for each Segment and each month, then the amount of the Pre-Bid Letter of Credit should be no less than 10 * 24 * $2,000 = $480,000. If a Bidder bids on 10 blocks of all the on-peak products, and 20 blocks of all the off-peak products, and if the Bidder indicates that its maximum willingness to supply is 10 blocks for each month on-peak and 20 blocks for each month off-peak, then the amount of the Pre-Bid Letter of Credit should be no less than (12 * 10 + 12 * 20) * 2,000 = (120 + 240) * $2,000 = $720,000. As another example, suppose a Bidder bids on three blocks of July off-peak and three blocks of the combination July-August off-peak. Suppose that the Bidder submitted as its maximum willingness to supply: -- 3 blocks for August off-peak -- 5 blocks for July off-peak This would indicate that, although the Bidder is bidding on three blocks of a single Product (July off-peak) and three blocks of a Combination (July-August off-peak) that includes that Product, the Bidder is not willing to supply all July-August off-peak combination blocks and all single July blocks on which a Bid has been placed. The Bidder's Maximum Quantity would be -- 3 + 5 = 8 blocks The Pre-Bid Letter of Credit could be for no less than 8 x $2,000 = $16,000. 2/27/2008, in Standard Products RFP.
Please note that the RFP Rules require that the Pre-Bid Letter of Credit must be in an amount no less than $2,000 per block of an RFP Bidder’s Maximum Quantity. The Pre-Bid Letter of Credit can be in an amount that exceeds $2,000 times the Maximum Quantity. To complete the Part 2 Form correctly, please enter the information as follows:
The form will permit you to put an amount and continue with a note. The Part 2 Form is available on the Documents & Data page.2/27/2008, in Standard Products RFP.
