FAQs
Applications
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FAQ-208:
Can we list the same individual that was named as the Applicant’s Representative as the representative of the Guarantor in the First Item of Section 1.6?
Yes. You can list the Representative for the Applicant as the Representative for the Guarantor in the First Item of Section 1.6.
01/17/2019 in Applications
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FAQ-207:
The Applicant is relying on the financial standing of a foreign guarantor, and the required financial information is reported in the entity’s local currency. For purposes of completing the Second Item of Section 1.6, should we provide the amount of Goodwill, Shareholder’s Equity, and Net Intangible Assets in US dollars or the entity’s local currency?
Please provide the amount of Goodwill, Shareholder’s Equity, and Net Intangible Assets in the same currency as they appear in the relevant financial filings submitted in the Second Item of Section 1.6.
01/17/2019 in Applications
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FAQ-206:
The Applicant is relying on the financial standing of a foreign guarantor, and the foreign guarantor files unaudited quarterly financial information with the SEC Form 6-K. Since the quarterly financial information is unaudited, is the applicant required to provide an attestation by the Entity’s Chief Financial Officer (“CFO”) under the Second Item of Section 1.6?
No. If the quarterly financials of the foreign guarantor are filed with the SEC on the Form 6-K, the applicant does not need to provide an attestation from the guarantor’s CFO.
01/17/2019 in Applications
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FAQ-205:
The Applicant is relying on the financial standing of a foreign guarantor, and the foreign guarantor files audited annual and unaudited quarterly financial information with the SEC Form 6-K. Should the financial documents be submitted in Section 1.6 or Section 1.7 of the Part 1 Form?
Please provide the audited annual financial information, and the most recent unaudited quarterly financial information in the Second Item (Financial information) of Section 1.6 of the Part 1 Form.
01/17/2019 in Applications
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FAQ-204:
Is there a comment process for the Form of SSO Supplier Letter Of Credit for the March 2019 Auction?
There is no comment process for the Form of SSO Supplier Letter of Credit at this time. A list of acceptable modifications to the SSO Supplier Letter of Credit is posted to the CBP website and dated December 20, 2018.
01/11/2019 in Applications
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FAQ-203:
Section 8.2(a) of the Master SSO Supply Agreement requires each supplier to represent and warrant to AEP Ohio that “if organized outside the State of Ohio, [it] is qualified to conduct its business and is in good standing in Ohio”. Section 1.4 of the Part 1 Form requires each bidder to retain a Legal Representative in Ohio that is authorized and agrees to receive service of process on behalf of the bidder.For an Applicant organized outside the State of Ohio, is fulfilling the provisions from Section 1.4 of the Part 1 Form sufficient to meet the requirements in Section 8.2(a) of the Master SSO Supplier Agreement?
The provisions from Part 1.4 of the Part 1 Form regarding a bidder/supplier having a Legal Representative in Ohio that is authorized and agrees to receive service of process on behalf of the bidder are separate from and not related to whether a foreign corporation (organized outside of Ohio) has qualified itself to conduct business in Ohio and is in Good Standing. The Ohio Secretary of State can issue Certificates of Good Standing for foreign corporations after a license has been obtained. You should discuss and review these requirements with your legal counsel.You and your counsel can find more details about the requirements for foreign corporations in the Ohio Revised Code at the following link: http://codes.ohio.gov/orc/1703.
01/11/2019 in Applications
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FAQ-202:
Does the officer signing the Master SSO Supply Agreement need to be the same officer who signed documents during Part 1 and Part 2 applications?
No. Once the Commission accepts the results of the auction, winning bidders will be contacted directly by AEP Ohio for the execution of the Master SSO Supplier Agreement. The officer signing the Master SSO Supplier Agreement does not need to be the one signing documents during Part 1 and Part 2 applications.
01/04/2019 in Applications
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FAQ-199:
Can I change the nominees to receive electronic communication from the Auction Manger after the Part 2 Window closes? How can I do that?
The Representative of a bidder can use the Designation of Nominees Insert (#P1-3) at any time to provide contact information for up to three (3) Nominees to be included in electronic communications from the Auction Manger in addition to the Representative him/herself. Please resubmit the Nominee Insert by email to the Auction Manager with the updated contact information.
10/29/2018 in Applications
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FAQ-198:
For the November 2018 Auction, if a bidder is relying on the financial standing of a guarantor, can the bidder submit a “letter of intent to provide a guaranty” to meet the additional pre-bid security requirement?
For the November 2018 Auction, the amount of pre-bid security required is $500,000 per tranche. No additional pre-bid security is required for any bidder. As stated in Paragraph IV.2.9. of the CBP Rules, a bidder that relies on the financial standing of a guarantor may submit a “letter of intent to provide a guaranty” to meet the additional pre-bid security requirement when the maximum amount of pre-bid security required per tranche exceeds $500,000. This is not applicable to the November 2018 Auction.
10/29/2018 in Applications
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FAQ-197:
How do I calculate the amount of pre-bid security required with the Part 2 Application? Can I use the amount of the Independent Credit Threshold to reduce the amount of pre-bid security I am required to post with the Part 2 Application?
The Independent Credit Threshold (“ICT”) was provided to you so that you would be aware of the ICT that could be granted to you under the terms of the Master SSO Supply Agreement. There is no unsecured credit granted for pre-bid security purposes.For pre-bid security, the amount you have to provide with the Part 2 Application in the November 2018 Auction is $500,000 times the number of tranches in your indicative offer at the maximum starting price. You may submit cash or a letter of credit as pre-bid security. If using a pre-bid letter of credit, you must use the standard “Pre-Bid Letter of Credit” posted to the CBP website dated August 14, 2018 or include only those modifications listed in the Acceptable Modifications to Pre-Bid Security Documents dated October 9, 2018.
10/15/2018 in Applications
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