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Bid Package and Instructions

Bid Form (PDF) No auctions scheduled at this time
Bid Submission Form (PDF) No auctions scheduled at this time
Instruction Guide for Bidding (PDF) No auctions scheduled at this time
Closing Instructions (PDF)


Minimum Bid Price

The Minimum Upset Price is the minimum amount that will be considered valid.  The highest valid bids will be named apparent winners.  Any bids below the Minimum Upset Price will be rejected as being non-responsive.

New York City Taxi and Limousine Commission (TLC) Commissioner will determined the Minimum Upset Price at least ten(10) days before Bid Collection begins

Commitment Letters

Persons interested in bidding in the upcoming auctions for taxicab medallions, are reminded that responsive bids MUST include a commitment letter.  The commitment letter must:

  • Be in an amount not less than 80 % of the bid amount.  If any bid is received with a commitment letter in an amount less than 80% of the bid amount, the bid will be rejected at the opening as non-responsive.
  • Be from a bank or credit union licensed to do business in the State of New York or other lender licensed by the State of New York or Federal Government. 
    • Any commitment letter from any entity that does not include in its name “bank:” or “credit union” will be presumed not to be a licensed lender UNLESS evidence of licensure is included with the commitment letter.  If a bid is received with a commitment letter from a non-bank or credit union entity without evidence of licensure, the bid will be rejected at the opening as non-responsive.