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Maryland Premium Tax Credits - General Auction Rules

  1. A Bidder that submits a Winning Bid(s) is irrevocably obligated to purchase up to the number of Tax Credits for which that Bidder has bid at the Market Clearing Price. A Bid is not a Winning Bid until formally accepted by the Maryland Department of Business & Economic Development.

  2. Grant Street Group and the Maryland Department of Business & Economic Development are not responsible for technical difficulties that result in loss of a Bidder's internet connection to the bidding site, slowness in transmission of Bids through the internet or other technical problems.

  3. If for any reason a Bidder is disconnected from the Auction web site during an auction after having submitted a Winning Bid, such Winning Bid shall be valid and binding upon that Bidder.

  4. Grant Street Group and the Maryland Department of Business & Economic Development will not accept any bid that generates an error message until the error is corrected and that bid is resubmitted.

  5. By participating in the auction, each Bidder accepts, and agrees to abide by, all terms and conditions, and bidder qualifications specified on the Auction web site.

  6. Only a Bidder who is registered on the Auction web site and certified by the Maryland Department of Business & Economic Development may submit Bids. Grant Street Group and the Maryland Department of Business & Economic Development reserve the right to deny access to the Auction web site to any Bidder.

  7. A Bidder is responsible for protecting their password and User ID. Neither Grant Street Group nor the Maryland Department of Business & Economic Development are responsible for protecting the confidentiality of a Bidder's password.

  8. A Bidder who submits a Bid by clicking the "Submit"' button must confirm that Bid by reviewing the confirmation page and then clicking the "Submit" button to confirm. In general, once a Bidder has submitted and confirmed a Bid, the Bid will be binding and may not be rescinded or revoked.

  9. If an "In the Money" Bid is received in the final two minutes of the auction, the auction will automatically be extended for two minutes from the receipt of that Bid. The auction end time will continue to be extended until all leading bid(s) remain unchanged for at least two minutes.