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AARQ Association for the Administration of Rice Quotas, Inc.
BID INSTRUCTIONS
AARQ, through its independent Administrator and pursuant to regulations of the European
Union (EU), is managing the allocation of rights to ship U.S.-origin milled rice to the EU under
tariff-rate quotas (TRQs) permitting certain quantities of U.S. rice to enter the EU duty-free.
Any person or entity incorporated or domiciled in the United States is eligible to bid. This
tender is for the July 2018 TRQ Tranche, in which TRQ Certificates for the following quantity
are being offered on open tender to the highest bidder(s):

Semi-Milled or Milled Rice
(HTS item 1006.30)
•
•
•
•
•
•
•
•
•

Volume (metric tons)

EU Duty

9,680

zero

All information requested by the Bid Form must be completed for the bid to be valid.
All information must be typed.
Page 2 of the Bid Form may be copied for submission of multiple bids.
A responsible official of the bidder must sign each copy of page 2 of the Bid Form.
The minimum bid quantity is eighteen (18) metric tons.
A bidder may not bid for more than the total volume listed above, either in a single bid or in
a combination of bids. Bids in excess of the total volume will be invalidated.
Bidders must submit performance security prior to or with their bids. SEE PAGE 2.
The AARQ Administrator will treat bids as confidential.
BIDS MUST BE SUBMITTED ON May 24, 2018 AND MUST BE RECEIVED BY 5:00 P.M.
EASTERN DAYLIGHT TIME. AARQ ENCOURAGES EARLY SUBMISSION OF BIDS
ON THAT DATE TO ENSURE TIMELY RECEIPT. SUBMIT BIDS BY HAND
DELIVERY, FAX, OR EMAIL TO:
AARQ Administrator
c/o Crystal Kleitz
Economic Consulting Services, LLC
2001 L Street, NW, Suite 1000
Washington, D.C. 20036
Fax: (202) 785-3330
Email: aarq@economic-consulting.com

REQUIREMENTS FOR PERFORMANCE SECURITY
•

Prior to or with its bid, each bidder must provide performance security in the amount of
$50,000 or the total value of its bid(s), whichever is less.

•

Performance security may be in any of the following forms:
 Cashier’s check payable to “AARQ Trust” delivered to the AARQ Administrator on or
before May 24, 2018.
 Wire transfer to AARQ Trust:
Bank:
ABA #:
Account #:
Account Name:
Ref:
Attn:

The Bank of New York Mellon
021-000-018
5721298400
AARQ TR Performance Security - P

Audrey Williams (212-815-5837)

It is the bidder’s sole responsibility to ensure that the funds are received by The Bank of
New York Mellon no later than 3:00 p.m. Eastern Daylight Time on May 24, 2018.
 Verifiable irrevocable Letter of Credit for the benefit of AARQ, in the attached form,
issued by an FDIC-insured U.S. bank. The original L/C must be received by the AARQ
Administrator on or before May 24, 2018.
•

A high bidder whose full payment for its winning bid(s) is not received within three
business days of its being notified of its high bid will forfeit its performance security.

•

Performance security in the form of a wire transfer, cashier’s check, or Letter of Credit may
be applied to a high bidder’s bid payment IF the bidder has so indicated on the Bid Form.
In view of the short deadlines involved, AARQ strongly discourages the application of a
Letter of Credit to a bid payment. If the full price of a high bid is not received by the due
date, including by reason of late transfer of funds due pursuant to a Letter of Credit, the
performance security will be forfeited and the award will be offered to the next highest
bidder.

•

Performance securities will be promptly returned to the bidder unless, pursuant to bidder
instructions on the Bid Form, the performance security is applied to the bid price of a
successful bid or is retained as security for a subsequent Open Tender Process. Please
provide an address or wire instructions for the return of performance securities.

2

OPERATION OF THE TENDER PROCESS AND THE TRQ SYSTEM

The procedures governing the Open Tender Process provide that the high bidder(s) whose bids
conform fully to bid requirements will be notified by May 28, 2018 that they are high bidders
for designated quantities. Each high bidder must pay the full amount of its winning bid(s) by
certified check or wire transfer, which must be received within three business days of the
notification or the performance security will be forfeited. If the quantity awarded for an
individual bid does not match the quantity requested, the bidder has the option to reject all or
part of the quantity awarded for that bid without penalty. Please notify the AARQ
Administrator via facsimile ((202) 785-3330) or email (aarq@economic-consulting.com) within
one business day if you choose not to accept all or part of an award. If the full price of one or
more high bids is not received by the due date, or if a high bidder rejects a partial award, the
quantities will be offered to the next highest bidder(s). Performance securities will be retained
until all of the TRQ Certificates have been issued.
TRQ Certificates designating the quantity and form of rice covered will be transmitted to each
successful bidder via overnight delivery after receipt of the full amount of a successful bid and
within two business days of receiving faxed or emailed instructions from the successful bidder
concerning the denomination in which TRQ Certificates awarded to it should be issued.
Under EU regulations, the AARQ TRQ Certificates can be used to enter U.S. rice into the EU
under TRQs only in tandem with import licenses issued to EU importers by the EU. The EU
issues import licenses for designated quantities in TRQ Tranches opening in January, April, and
July (and September if EU import licenses were not issued for the total quantities designated for
January, April and July). TRQ quantities not covered by import licenses issued for one Tranche
(e.g., July 2018) are carried over to the following Tranche (e.g., September 2018).
Within the first ten business days of the month in which a TRQ Tranche opens, EU importers
must apply to Member State authorities for licenses to import a specified quantity and form of
U.S.-origin TRQ rice. They must submit a TRQ Certificate for that quantity with the import
license application. U.S. holders of TRQ Certificates therefore must transmit the TRQ
Certificates to EU importers to permit the importers to comply with that timetable. The EU
import licenses are valid from their date of issue until the end of the third month following that
day.
DEADLINE TO USE TRQ CERTIFICATES
TRQ certificates issued in this Open Tender Process that are not presented with an import
license application by an EU importer during the first ten business days of July 2018 will remain
valid for the September 2018 Tranche.
The holder (including a transferee) of a TRQ Certificate must transmit the certificate to an EU
importer who will apply for an import license during the first ten business days of July or
September.
PLEASE ADDRESS ANY QUESTIONS TO THE OFFICE OF THE AARQ ADMINISTRATOR AT 202-466-1150.

3

AARQ Association for the Administration of Rice Quotas, Inc.
BID FORM

CONFIDENTIAL

BIDDER INFORMATION
Company Name:
Primary Contact Name:
Address for Fedex deliveries (i.e. for delivery of TRQ Certificates) :

Telephone:
Facsimile:
E-mail:
Additional E-mail:
Number of pages to follow:
PERFORMANCE SECURITY INFORMATION
Amount:
Date:
Type of Security:
Number (L/C number; or federal reference number if wire transfer):
Expiration Date (L/C):
Method of Delivery:


Enclosed



Hand delivered to Administrator



Wired to AARQ Trust account at The Bank
of New York Mellon



Other (specify)

Disposition of performance security:
Successful Bidder

Unsuccessful Bidder








Return to Bidder
Apply performance security to successful bid
price



Return to Bidder
Retain the performance security for a
subsequent Open Tender Process

Retain the performance security for a
subsequent Open Tender Process

Address for return of performance security (if wire transfer, include Bank name; ABA #; account #;
account name):

AARQ Association for the Administration of Rice Quotas, Inc.
BID FORM
A.

Form of Rice
Semi- Milled/Milled

B.

Quantity
Metric Tons
(minimum 18 MT)

C.

CONFIDENTIAL
Bid Price

$U.S. per Metric Ton

D. Total Value of Bid
(B x C)
$U.S.

Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Semi- Milled/Milled
Total Semi-Milled/Milled
(Not to Exceed Total Quantity
Available in this Tranche)

Bidder certifies that he has read and understands the Bid Instructions and submits this bid in
accordance therewith. The bidder agrees that any dispute that may arise relating to the bidding
process or the award of the TRQ Certificates shall be settled by arbitration administered by the
American Arbitration Association in accordance with its Commercial Arbitration Rules, and
judgment on the award rendered by the arbitrator may be entered in any court having
jurisdiction thereof.
Name:

SIGNATURE

Title:
Company:

__________________________

5



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