Note 14. Commitments and Contingencies Market Risks: The Company is contingently liable under bid, performance and specialty bonds and has open standby letters of credit issued by the Companys banks in favor of third parties as follows: July 31, 2018 October 31, 2017 Performance, bid and specialty bonds $ 215.4 $ 272.2 Open standby letters of credit 11.1 7.2 Total $ 226.5 $ 279.4 Chassis Contingent Liabilities : The Company obtains certain vehicle chassis from automobile manufacturers under converter pool agreements. These agreements generally provide that the manufacturer will supply chassis at the Companys various production facilities under the terms and conditions set forth in the agreement. The manufacturer does not transfer the certificate of origin to the Company and, accordingly, the chassis are treated as consigned inventory of the automobile manufacturer. Upon being put into production, the Company becomes obligated to pay the manufacturer for the chassis. Chassis are typically converted and delivered to customers within 90 to 120 days of receipt. If the chassis are not converted within this timeframe of delivery, the Company generally purchases the chassis and records the inventory or the Company is obligated to begin paying an interest charge on this inventory until purchased. The Companys contingent liability under such agreements for future chassis inventory purchases was $42.0 million and $85.9 million at July 31, 2018 and October 31, 2017, respectively. Repurchase Commitments : The Company has entered into repurchase agreements with certain lending institutions. The repurchase commitments are on an individual unit basis with a term from the date it is financed by the lending institution through payment date by the dealer or other customer, generally not exceeding two years. The Companys outstanding obligations under such agreements were $288.5 million as of July 31, 2018 and October 31, 2017. This value represents the gross value of all vehicles under repurchase agreements and does not take in