A debarment proceeding shall be initiated by notice to the respondent advising:
(a) That debarment is being considered;
(b) Of the reasons for the proposed debarment in terms sufficient to put the respondent on notice of the conduct or transaction(s) upon which it is based;
(c) Of the cause(s) relied upon under §2452.210 for proposing debarment;
(d) Of the provisions of §§2542.230 through 2542.260, and any other Corporation procedures, if applicable, governing debarment decision making; and
(e) Of the potential effect of a debarment.