§ 65-06 Procedures for Bidding.
RCNY § 65-06
(a)Submitting a Bid. Each Bidder must do the following: (1) Submit bid on the form determined by the Chairperson.
(2)Submit only one bid for one Lot per envelope.
(3)Include with each bid the following: (i) For each Minifleet Medallion for which a Bidder submits a bid, a deposit of $5,000 (or $10,000 for each lot of 2 Minifleet Medallions) in a certified check, bank check, money order, or a check issued by a Taxicab Broker or Agent licensed by the Commission pursuant to 35 RCNY Chapter 62 or 35 RCNY Chapter 63 respectively, payable to the "New York City Taxi and Limousine Commission" (ii) For each Independent Medallion for which a Bidder submits a bid, a deposit of $2,000 in a certified check, bank check, money order, or a check issued by a Taxicab Broker or Agent licensed by the Commission pursuant to 35 RCNY Chapter 62 or 35 RCNY Chapter 63 respectively, payable to the "New York City Taxi and Limousine Commission" and (iii) A letter of commitment for no less than eighty percent of the bid amount, issued by a bank or credit union licensed to do business in the State of New York or other lender licensed by the State of New York or the Federal Government.
(4)Submit bid in a 9" x 12" sealed envelope with a cover form determined by the Chairperson on which the Bidder must indicate the following: (i) The Bidder's name, address, phone number and date of sale; and (ii) The type of Medallion Lot.
(5)Submit each sealed bid by hand delivery at the time and place designated by the Chairperson.
(6)Submit each bid between 9:00 a.m. and 12:00 noon on any of the four business days immediately prior to the deadline for bidding.
(b)Late Bids. Any bid presented to the Commission after the deadline in 35 RCNY § 65-06(a)(6) will not be accepted.
(c)Required Certifications. As part of each bid form, the Bidder must certify the following: (1) The Bidder has not relied on any statements or representations from the City of New York in determining the amount of the bid.
(d)Non-Responsive Bids. The following will be considered "non-responsive" bids and will be rejected: (1) Bids not rounded to the nearest one-cent increment.
(7)Bids that are non-responsive or non-conforming in any other respect.
(e)All Bids Final. All bids are considered final and no Bidder will be allowed to correct any bid after submission.
