GICauction employs the latest internet technology to provide a competitive, transparent, and well-documented GIC solicitation. This auction process, approved by the IRS, offers the following features:

Feature Benefits
Electronic Documents Before the auction, the Preliminary Official Statement (POS) and bid documents are posted on the web site.
Pre-Authorized Access Bidders have unique IDs and passwords. Only pre-authorized providers are granted admission to bid in the auction.
Process Transparency Issuer-designated observers will be able to witness the bidding activity in real-time.
Bid Error Controls All bid information is entered into a web-based table with strict error control, reducing the possibility of bid errors.
Multiple Bids Bidders are notified of their rank (Leader, Cover, Third, etc.) and, based on this feedback, they have unlimited opportunities during the bid submission period to improve their bids in an effort to gain the Leader position.  This auction process promotes competition amongst the bidders, resulting in enhanced investment returns.
Disclosure After the award, the results of the auction are immediately released on the web site to the public.

Electronic Records

A permanent electronic record of the auction activity is maintained by Grant Street Group.  An Auction Analysis showing every bid submitted in the auction will be provided to the issuer and its counsel for inclusion in the bond closing transcript.

Go to: GICauction Home Page

Grant Street Group auction services are protected by
U.S. Patent Nos. 6,161,099, 7,523,063, and patents pending.