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Notification and Qualification Process

Parties interested in participating in joint venture transactions may request that they be included on a list of “prospective bidders” to receive sale announcements. Once a sale is announced, prospective bidders will be required to meet qualification criteria specific to the transaction to gain access to due diligence material. Prospective bidders must also demonstrate their financial capacity and expertise in managing and disposing of asset portfolios as an additional qualification to bid.


Prospective Bidder Information Form

The FDIC, in its capacity as receiver for failed banks, from time to time may sell certain financial assets, loans and loan-related assets. Financial assets include debt, equity, mortgage-related, municipal, and other securities, as well as interests in joint venture transactions (i.e., limited liability companies) involving loans, notes, other evidences of indebtedness and collateral property. Loan and loan-related assets include loans secured by commercial or residential real estate, commercial and industrial loans, consumer loans, agricultural loans, and loan participations as well as leases and credit card receivables. The financial assets, loans and loan-related assets described above are not intended to be all inclusive.

Prospective Bidders may provide contact and investor status information and identify the types of financial assets, loans, and loan-related assets they are interested in purchasing by completing the Prospective Bidder Information form, and delivering the completed form electronically to: Prospective Bidders’ that submit the form will have their names included on a list to receive sale announcements that match their expressed interests.

The FDIC will require any Prospective Bidder to submit transaction-specific qualification documents and other bidder qualification materials at the time of sale.


Questions regarding the Prospective Bidder Information form should be directed to

Transaction-Specific Qualification

For joint venture transactions, Prospective Bidders will be required to meet transaction-specific criteria. Transaction-specific qualifications may vary from transaction to transaction. For example, certain transactions may require a higher net worth than other transactions.

As a general matter, the transaction-specific qualification process will require Prospective Bidders to complete, to the satisfaction of the FDIC, and return (in accordance with instructions provided in connection with the transaction) the following executed documents:

  • Confidentiality Agreement
  • Qualification Request
  • Purchaser Eligibility Certification
  • Office of Foreign Assets Control (OFAC) Certification
  • Security Deposit Agreement

In addition, a security deposit, typically in the amount of $250,000, must be wired to the FDIC. The security deposit and all executed documents must be provided before access is given to the transaction due diligence materials.

Financial and Other Information

The FDIC reserves the right, with respect to any Prospective Bidder, to conduct credit investigations regarding, to request financial and other information from, and to condition its decision to qualify such Prospective Bidder upon the receipt of such financial and other information and satisfactory credit investigations. The FDIC reserves the right to refuse to qualify any Prospective Bidder that fails to meet the applicable qualification criteria or provide any requested information. By submitting a request to be qualified, a Prospective Bidder authorizes the FDIC to conduct credit investigations through third-party reporting agencies.


Questions regarding the transaction-specific qualification process should be directed to or, if you have already received a transaction-specific announcement, to the financial advisor for that specific transaction.

Bidder Qualification

If a Prospective Bidder has been qualified to receive transaction-specific information as previously described, to be eligible to bid in a joint venture transaction, the Prospective Bidder will also be required to provide information regarding financial, managerial, and legal matters by completing a Bidder Qualification Application - PDF in accordance with the instructions contained in the Application Guidance and Instructions - PDF. Bidder qualifications may vary from transaction to transaction.

Prospective bidders are encouraged to refer to the Bidder Qualification Application: Frequently Asked Questions - PDF for additional information regarding the Bidder Qualification Application.

The Bidder Qualification Application will be used by the FDIC to determine whether the Prospective Bidder has the requisite financial resources and managerial capabilities to be a successful bidder and to ensure that their background (such as a recent bankruptcy or criminal conviction) would not make it inadvisable for the FDIC to allow them to participate in the transaction. Information made available in connection with a specific transaction will indicate whether this process is applicable to that transaction.

In addition, any insured depository institution that contemplates participating and bidding in a joint venture transaction must obtain any required regulatory approval to submit a bid.


Questions regarding this bidder qualification process should be directed to or, if you have already received a transaction-specific announcement, to the financial advisor for that specific transaction.

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