Auction Format Sample Clauses
Auction Format. 6.1 The funds will be offered via a multiple-price auction, with a mininum bid rate as published on the Authority’s website.
6.2 Applicants can only submit one bid for each auction. The bid submission shall follow the following template: USD Facility (Bid Template) Date of Bid - DDMMYYYY Name of Eligible Counterparty - XXX Bank Ltd 6 The final auction size will be announced at least one business day before the auction date. Bank Code - XXXX Tenor (d) Bid Amount (USD m) Bid Rate (bps) 7 50 100.05 84 100 120.05 Name of Trader - XXXXXX Telephone No. of Trader - XXXX XXXX
6.3 Applicants must indicate the tenor, bid amount and bid rate in its submission. The bid rate must be in the form of basis points, and stated to the nearest 0.01 basis point. Only bid rates which are at or above the minimum bid rate will be considered for the auction.
6.4 Each bid shall be subjected to a minimum bid size of USD 10 million, and the bid shall be rounded to the nearest USD 1 million.
6.5 Successful Applicants must pay the interest amount according to its submited bid rate that was accepted7 (“Accepted Bid Rate”). If the total bid amount is below the auction size, all successful Applicants will be fully allotted.
6.6 If the auction is oversubscribed, the funds will be distributed based on the competitiveness of the bids, with each bid capped at 20% of the auction size. At the auction cut-off bid rate, the funds will be allocated using the Quantity Ceiling method. This means that successful Applicants with bids at the cut-off bid rate will be allotted increments of US$1 million up to their bid amount , or until all the USD funds have been allotted, whichever comes first. If there is insufficient amount for such Applicants to receive the minimum increment of US$1 million each, the funds will be distributed randomly.
6.7 If the auction is undersubscribed with at least one successful Applicant’s bid capped at 20% of the auction size, the funds that were not allotted will be allocated solely based on the competitiveness of the bids of such Applicants.
6.8 The Authority reserves the right to amend the auction and allocation methodologies without prior notice.
6.9 Upon completion of the auction, MAS will inform all successful Applicants of the amount of USD allotted to them via telephone or any other communication channel(s) as the Authority may decide.
Auction Format. Qualified bidders will submit bids stating the desired volume (in acre-feet), bid price ($/acre-feet), contact information, desired water source, and willingness to accept smaller volume than bid on by dropping off the completed bid form in the drop box located on the gate at the Conservancy field station at ▇ ▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, emailing the completed bid form to ▇▇▇▇▇.▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or mailing completed bid form to:
Auction Format. 6.1 The funds will be offered via a multiple-price auction, with a minimum bid rate as published on the Authority’s website. USD Facility (Bid Template) Date of Bid - DDMMYYYY Name of Eligible Counterparty - XXX Bank Ltd Name of Trader - XXXXXX Telephone No. of Trader - XXXX XXXX
6.2 Applicants can only submit one bid for each auction. The bid submission shall follow the following template: Bank Code - XXXX Tenor (d) Bid Amount (USD m) Bid Rate (bps) 7 50 100.05 84 100 120.05
6.3 Applicants must indicate the tenor, bid amount and bid rate in its submission. The bid rate must be in the form of basis points, and stated to the nearest 0.01 basis point. Only bid rates which are at or above the minimum bid rate will be considered for the auction.
6.4 Each bid shall be subjected to a minimum bid size of USD 10 million, and the bid shall be rounded to the nearest USD 1 million.
6.5 Successful Applicants must pay the interest amount according to its submitted bid rate that was accepted7 (“Accepted Bid Rate”). If the total bid amount is below the auction size, all successful Applicants will be fully allotted.
6.6 If the auction is oversubscribed, the funds will be distributed based on the competitiveness of the bids, with each bid capped at 20% of the auction size.