Failure to reach financial close, which is largely carried by the Promoter. A winning bidder who cannot reach financial close will probably suffer a significant financial loss, as well as a loss of reputation. However, it is the Promoter which has to deal with the consequences of the failure. The Promoter normally mitigates this risk either by inviting bids only from well-established and qualified bidders, or by making it a bid submission condition that the bidder can demonstrate that it has funding available.
Interest-rate movements between the submission of bids and financial close, which is carried by either the Promoter or the Provider, depending on the terms of the bidding.