- Could you please provide an urgent answer as of which date the deadline of 6 months of the Letter of intent of the bank from Article 11.5 of the Rulebook is calculated, which letter of intent the bidder should submit with the Binding Bid? Should the letter of intent be binding or non-binding? In which currency the Letter of intent should be?
The deadline of 6 months should be calcuated starting from the date of issuenace of the letter of intent by the bank. The said letter should be binding and should relate to EUR amount representing 2/12 of yearly payments for booked capacity for the first year (the tariffs from Article 5.3 of the Rulebook should be used).
- In item 11.3 of the abovementioned document (for the reference purpose: the Rulebook) it is stated that we are obliged to submit adequate proofs on our capability to provide security for meeting of pecuniary obligations. The very Invitation does not define this. Please clarify whether on the occasion of submission of the bid bond and Binding Bid Form we should also submit a proof on our capability to provide security for meeting of pecuniary obligations? If this is the case, please clarify how this letter should look like, in free form or there is a model which is acceptable to you.
In accordance with the Invitation, the Binding Bid should be accompanied by the supporting documents set out in the Invitation and the Rulebook i.e. by the bid bond and the sufficient evidence from the Articles 11.4 and 11.5 of the Rulebook on ability of the Bidder to provide security for meeting of its pecuniary obligations from the Gas Transportation Agreement. The Article 11.5 of the Rulebook sets out the content of such letter.
- In order to prepare proper Escrow Account Agreement with the bank can you please clarify following provisions of the Appendix 1 of the Rule book (bid bond wording): 1. “the Bidder, after the notification on acceptance of its bid by Applicant, during the bid` validity period, fails or refuses to enter into the gas transportation agreement i.e. amendments of the gas transportation agreement, when requested from the Bidder. ” What is the deadline in which the notification on acceptance of the bid will be provided by the Gastrans? We understand that the Bidder and the Applicant are the same entities? For example the Bidder is […], The Guarantor is the Bank and the Beneficiary is the Gastrans? What is the bid validity period? Does it mean that the Bidder is obliged to enter into the GTA in the period from the date of notification of the Bidder on acceptance of the Bid until the expire of the bid validity period i.e. 1st June 2019?
Model of the Bid Bond from Appendix 1 of the Rulebook contains a mistake, the correct wording should be „the Bidder, after the notification on acceptance of its bid by Beneficiary, during the bid` validity period, fails or refuses to enter into the gas transportation agreement i.e. amendments of the gas transportation agreement, when requested from the Beneficiary“. The notification on acceptance of the bid will be provided by 29 March 2019. The Bidder and the Applicant are the same entities, the Guarantor is the Bank and the Beneficiary is Gastrans. The bid validity period is set in the article 11.7.2 of the Rulebook (6 months). In line with the Article 14.2 of the Rulebook, the Bidder is obliged to enter into the GTA within 15 days from sending the signed GTA by GASTRANS to the Bidder.
- Please be informed that […] intends to submit the Binding Bid in the Binding Phase of contracting long-term transmission of natural gas in capacity exempted by the Act on exemption of the New Interconnector for natural gas. In accordance with the Article 5, Paragraph 2 point (ii) […] will provide the security for seriousness of bid in the form of deposited funds at the escrow bank account. In the attachment is the calculation of the value of the transaction and requested deposit amount. We would appreciate if you could check and confirm the calculation in order […] could proceed with the negotiation with the banks. Please note that the amount of the capacity indicated in the calculation is only for the purpose of the calculation and the final figures contained in the submitted Binding Bid Form could differ.
Hereby we confirm the manner of calculation you provided in your e-mail.
- We hereby inform you that […] intends to submit the binding bid in the binding phase of contracting the long-term natural gas transportation in the capacity exempted by the act on exemption of the new interconnector for natural gas. […] plans to deliver the bank guarantee for seriousness of bid issued by […], as well as the Letter of intent of the bank on fulfilment of Pecuniary obligations from the Gas transportation agreement. Attached to this e-mail is the calculation of the value of the bank guarantee for seriousness of bid and the Letter of intent. Please to, today 15 March 2019 at latest until 4 pm, confirm to us the calculation of the bank guarantee for seriousness of bid, calculation of amount from the Letter of intent, as well as acceptability of the bank being the guarantor. We emphasize that the capacity given in the calculation is given only for the purpose of calculation and the volume of requested capacity in the binding bid form may differ.
We came to a small difference during calculation, so we advise you to check again the calculation. Generally speaking, the calculation is performed in the manner that the amounts of relevant tariffs, the quantities you intend to book and number of years of booking are taken and then the relevant percentage is applied to such amount.
Also, it should be taken into account that it is planned the transportation to start as of 1 January 2020, so there would be no transport in 2019.