V. Financial Qualifications of Applicant
To be granted a CPCN, an applicant for authority to provide nonfacilities-based local exchange and/or interexchange services must demonstrate that it has a minimum of $25,000 of cash or cash equivalent to meet the firm's start-up expenses.2 To meet this requirement, applicant provided a guarantee from one of its parent companies, British Telecommunications plc, that demonstrates that it has sufficient cash to meet this requirement.
An applicant seeking authority to provide local exchange or interexchange services must also demonstrate that it has sufficient additional resources to cover all deposits required by local exchange carriers (LECs) and/or interexchange carriers (IECs).3 The above guarantee provides sufficient additional cash to satisfy this requirement.
We find that applicant has met our requirement that it possesses sufficient financial resources to fund its operations.
2 The $25,000 requirement for CLCs is contained in D.95-12-056, Appendix C. The $25,000 requirement for NDIECs is contained in D.91-10-041. 3 The requirement for CLC applicants to demonstrate that they have additional financial resources to meet any deposits required by underlying LECs and/or IECs is set forth in D.95-12-056, Appendix C. For NDIECs, the requirement is found in D.93-05-010.
