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Miami-Dade Bidding Group Guidelines

BIDDING GROUP GUIDELINES

PURPOSE

A Bidding Group refers to a system functionality that allows an auction site user to manage more than one Affiliated Bidder under a single Primary Bidder.  The functionality is available to any Primary Bidder with one or more Affiliated Bidders. However, use of the functionality is not required to participate in the tax certificate sale.

GROUP STRUCTURE

  1. A Bidding Group consists of a Primary Bidder and one or more Affiliated Bidders.
  2. The Primary Bidder is represented by the first W-9 form a user submits in an auction.
  3. Affiliated Bidders are added by submitting a W-9 form for each bidder through the Manage Bidding Group page on the auction web site. Each Primary and Affiliated Bidder must be created using a unique, valid Taxpayer Identification Number (TIN). A W-9 certification and electronic signature are required for each bidder.
  4. Affiliated Bidders cannot be added to or removed from a Bidding Group after the registration and deposit deadline of May 29, 2019 4:00 pm EDT.
  5. Payments (deposits, payments for purchases or refunds, if necessary) are managed per Bidding Group.

DEPOSITS AND BUDGETS

  1. Miami-Dade County requires a minimum deposit of $5,000.00, or ten percent (10%) of intended purchases in excess of $50,000.00, whichever is greater, for each bidder included in a Bidding Group. Because of this requirement:
    1. Bidding Group users must add all Affiliated Bidders to the group prior to submitting bids. Any submitted bids must be withdrawn before adding Affiliated Bidders. Withdrawn bids must be re-submitted to be considered for award.
    2. Permission to submit bids will not be granted to a user unless an adequate deposit has been submitted and confirmed by the County
  2. When submitting a deposit, you will be prompted to submit the required minimum deposit per bidder.
    1. The minimum deposit allows a bidder purchase of no more than $50,000.00.
    2. If you intend to post a total dollar deposit amount in excess of the minimum, please note that deposit will be allocated evenly across Affiliated Bidders in the Bidding Group.
    3. If you intend to make purchases in excess of $50,000.00 per bidder, your deposit should be 10% of intended purchases per bidder.

BID SUBMISSION, RESULTS GENERATION AND PROXY BIDDING

  1. Bidding Group users submit bids for ALL members of the group.
  2. Example:
    1. A user creates a Bidding Group with a Primary Bidder and nine Affiliated Bidders.
    2. The user submits a rate of 5.00% for a certificate on the Bid page. This action will result in the submission of 10 bids at 5.00%, one for each member of the Bidding Group.
    3. If 5.00% is the lowest rate submitted for the certificate at the time the batch containing that certificate closes, one of the ten bidders in the Group (chosen using a random number generator) will be awarded the certificate at 5.00%, as the Bids from the Group members are tied one another.
    4. Bids from members of a Bidding Group are individual bids. Even in an auction where the bidding format is Proxy Bidding, these bids compete with one another for purposes of determining the winning bid.

BULK ACTIONS

  1. Uploading Bidders - Affiliated Bidders can be added in bulk by clicking "Upload New Bidding Group" or Upload Additional Bidders (after you have created a Group) on the Manage Bidding Group page and completing the required steps. Please note the following limitations on bidder uploads:
    1. Bidder upload for any purpose will be disabled starting 64 hours prior to the close of the first batch in any auction and will be unavailable for the remainder of the sale. All bidder uploads, W-9 certifications and electronic signatures must be initiated before this deadline.
    2. The maximum bidder upload file size is 10 MB.  Files larger than 10 MB must be split and uploaded separately.
    3. Once a file upload is complete, users must resolve any errors (as specified in a review file, accessed by clicking the review these errors link) in order to add all their Affiliated Bidders. Depending on the number of bidders in a file, it may take many hours to upload, process, sign and assign bidder numbers.  In order to ensure a Bidding Group is properly created in time to bid in an auction, bidder uploads should be initiated well in advance of the upload deadline.
  2. Deleting Bidders A Bidding Group can be deleted by clicking "Delete Bidding Group" on the Manage Bidding Group page.  Users must delete bidders, if desired, before the close of the first batch in which a user submitted bids.
  3. Downloading Bidders - A list of Bidding Group members can be downloaded by clicking "Download Bidders" on the Manage Bidding Group page.
  4. Transferring Purchases - Bidding Groups agree to transfer all purchases from Affiliated Bidders to the Primary Bidder after issuance of tax certificates. Please note the following with regard to transfers:
    1. Certificate transfers are post-sale procedures; the results displayed on the website at the close of the sale will not be changed to reflect transfers.
    2. All purchases by all Affiliated Bidders must be transferred to the Primary Bidder only; purchases cannot be transferred to any other Affiliated Bidders, or multiple Affiliated Bidders.
    3. Transfer Fee is required and shall be paid by the payment deadline or deducted from excess deposit.
    4. Certificates purchased by the Primary Bidder will not incur a Transfer Fee as no transfer is performed.

TRANSFER DETAILS FOR AUCTIONS ON THIS SITE

  1. Transfer Fee: $2.25
  2. Deadline to complete transfers: June 5, 2019 4:00 pm EDT

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