BidOhio is a "first of its kind" investment initiative in the United States.
The program is designed to provide eligible Ohio depository financial institutions with the
opportunity to interactively compete for state investment dollars each month.
Bids will be accepted on-line at BidOhio.com each month during scheduled auctions,
and will be funded the next business day after the bids are confirmed by the financial institution.
The monthly schedule of auctions is communicated to all registered bidders in advance of the auctions.
Currently, the auctions are held on the first and third Tuesday of each month, and additional auction offerings may be added.
These auctions will begin at 10:00 a.m. and end at 10:30 a.m. on the designated dates.
The Ohio Treasurer will make funds available as noted on the BidOhio website (there is a $15 million limit per financial institution for each auction).
Registration and Entry to Auction
Bidders must register with BidOhio. To register, bidders should go to the
BidOhio web site. Upon successful registration, bidders will receive a BidOhio
password and will be responsible for protecting the confidentiality of the password.
The Ohio Treasurer reserves the right to deny access to any BidOhio
auction to any bidder, at any time and for any reason whatsoever, in its sole
and absolute discretion.
The minimum bid is $100,000.00. Bids may increase in increments of $100,000.00
to a maximum of $15,000,000.00 per financial institution - including all branch offices, per
The minimum rate will be determined by the Ohio Treasurer's office and
will be displayed on the auction home page prior to the auction. Bids below the
minimum rate will not be accepted.
Multiple bids from same bidder are permissible. Each bidder may make up to five
bids, the total of which may not exceed program limitations. There is no limit
as to the number of times a bid may be updated/changed.
Settlement date is the day following the auction and will be displayed on the
Maturity date will be displayed on the Auction Page.
Certificates of Deposit must be collateralized pursuant to Ohio Revised Code
Section 135.18 by 5 p.m. the day before the auction.
Participating financial institutions must have sufficient collateral in place to secure its
bid(s). Insufficient collateral will be cause to prevent a financial institution's admission to
an auction or to reject a bid.
Winning Bidders will be assessed a fee equal to .01% of the principal amount of
the certificates of deposit awarded for the 6 Month Certificates of Deposit and a fee
equal to .005% for the 3 Month Certificates of Deposit. Such fee will be payable to Grant Street Group
by ACH debit 2 days following the auction. Completion of the ACH Debit Authorization
on the Confirmation Page represents winning bidder's authorization for Grant Street
debit account. Failure to make timely payments of the
Grant Street Group fee will result in exclusion from subsequent auctions.
If qualified bids submitted in the same auction by the same or different bidders
result in a tie, the first bid submitted prevails. Any change to a bid
constitutes a new bid.
Winning Bidders must confirm their award per the instructions on the Confirmation
Page immediately after the auction ends.
Certificate of Deposit Requirements
Interest on the certificate of deposit will be calculated on a 360 per diem
basis using the actual number of days ((principal amount times the rate) divided
by 360 multiplied by the actual number of days).
Certificates of deposit will be book entry in the name of the State of Ohio,
Transactions will be completed by wire transfer or ACH.
Training on how to use the BidOhio website can be obtained by calling the
Ohio Treasurer's office at 614-466-6546. There is no charge for the training.
The Ohio Treasurer reserves the right to reject any BidOhio bid for any reason at his
discretion. The Ohio Treasurer also reserves the right to award a portion of a
financial institution's bid subject to the minimum and multiple amounts described above.
Each bidder must acknowledge that he or she has read amendments to the
guidelines in each auction and indicate agreement with the amendment
electronically in order to enter the auction.
Submitted bids must also be verified. The bidder understands that in verifying
the bid, the bidder has made a formal offer.
Bids that generate error messages are not accepted until error is corrected and
bid is resubmitted. Error messages will indicate the reason for the error such
as in the instance in which the bidder has entered a bid that is lower than the
minimum bid requirement.
The bidder understands that the submitted bid may initially be a leading bid,
but may be replaced by other more competitive bids throughout the auction.
Bidders will know immediately if their bid continues to be a winning bid by
updating their bids. A bid's status when "in the money" may change at any given
time due to new bids by other bidders. It is the responsibility of the bidder
to update his or her bid status. There is no limit to the number of times a bid
may be updated.
A bidder submitting a winning bid is irrevocably obligated to provide the
certificate of deposit at the specified rate, amount and maturity date, if
acceptable to the Treasury, as herein set forth. The bidder understands that an
award has not been made until posted on the Results Page on the BidOhio site.
Discrepancies should be reported to
the Ohio Treasurer's office at 614-644-6546 within 15 minutes of
the posting of the Results Page.
In the event of a web site failure the auction will be attempted at the top of
every hour the day of the scheduled auction between the hours of 10 a.m. and 4
p.m. In the event that the auction is not completed on the scheduled day, the
next attempt will be 10 a.m. the next business day. The Ohio Treasurer will
inform registered bidders of a change in the bidding format via phone, fax or
The Grant Street Group software, supplied by Grant Street Group, used in
conjunction with this web site serves only as a medium through
which the BidOhio auctions are conducted. Grant Street Group is
not liable or responsible for the terms, rates, collateral or any
other condition by which financial institutions are awarded monthly deposits.
Grant Street Group is not responsible for any defect or inaccuracy
in the Guidelines as they appear on the BidOhio web site.
Neither the Ohio Treasurer nor Grant Street Group is
responsible for technical difficulties that result in the loss of
bidders' Internet connection with BidOhio, slowness in
transmission of bids or other technical problems. Neither the
Ohio Treasurer nor Grant Street Group is responsible for
individual computer failures. In the event of a computer failure,
bidders may contact the Ohio Treasurer's office at 614-644-6546.
This web site is provided "as is" without any warranty
whatsoever. Grant Street Group
hereby disclaims any and all warranties, including without
limitation any implied warranties of merchantability and/
or fitness for a particular purpose.
In no event will Grant Street Group
be liable for indirect, special, incidental,
economic, cover, consequential, tort or other damages
(including without limitation damages or costs relating to
the loss of profits, business, goodwill, data or computer
programs, even if advised of the possibility of such
damages), without regard to the legal theory of such
damages, arising out of the use of or inability to use
this web site.
Acceptance of Guidelines
Bidder accepts and agrees to abide by all terms and conditions specified in the
Go to: BidOhio Home Page
Please direct questions and comments to AuctionSupport@GrantStreet.com