The NTIA today released a "programmatic waiver" of the Letter of Credit (LOC) requirement in the BEAD Notice of Funding Opportunity (NOFO). The requirement for a 25% Letter of Credit was seen as a significant obstacle by service providers that would reduce the amount of funding that would go toward deployment of broadband by 30% or more. The changes announced today include the ability to use a Credit Union in addition to a bank, the allowance for a Performance Bond for 100% of the grant amount versus a 25% LOC, and the ability to reduce the amount of the Letter of Credit or Performance Bond by reaching established performance milestones.

Links from Today:

~ NTIA Announcement about the Programmatic Waiver of the Letter of Credit (LOC): [ Ссылка ]

~ NTIA Notice of Programmatic Waiver for the LOC: [ Ссылка ]

~ Difference between an LOC and a Performance Bond: [ Ссылка ]

свернуть