If a Participant’s Initial Offer is not shortlisted, are there any circumstances under which that Participant might forfeit its Offer Deposit?
As stated in the Section VI.C of the RFO, “the Participant will forfeit the Offer Deposit in its entirety under the following conditions: a. Participant’s withdrawal of the Offer other than a result of its no longer being binding as required by Section VI.A. of this RFO; b. Any material misrepresentation of pricing or other information knowingly submitted by Participant.” 21) Is a Participant subject to forfeiting its Offer Deposit if, after its Initial Offer is shortlisted, it experiences a change in circumstances or discovers new information that results in the submittal of a Final Offer with a higher price than the Initial Offer? (12-2-04) Participant would be subject to forfeiting its Offer Deposit if the lower price in the Initial Offer were a “material misrepresentation of pricing or other information knowingly submitted by Participant.” PG&E recognizes that as offers become more refined during development of Final Offers, pricing may be affected. Participants should remain aware
Related Questions
- When does the participant have to post the additional Offer Deposit and when will it be returned? When does the Participant have to post the Delivery Date Security?
- If a Participant’s Initial Offer is not shortlisted, are there any circumstances under which that Participant might forfeit its Offer Deposit?
- Does iHoldem offer an Initial Deposit Bonus?
