Grounding Strap - Mounting Plate

I have somewhat of a silly question. There is a grounding strap that I believe attaches to the stud welded to the body up near the fuel canister. What is it supposed to be attached to? I'm assuming the mounting plate but why? Is there anything that is connected to the mounting plate that needs to be grounded? Or is it just to discharge any static electricity that might build up on the panel from the CDI box?

Thanks
Chris

Yes, the whole mounting plate. The plate is mounted on rubber buffers so therefore is not grounded.

Thanks Ed.

So are the relays and switches attached to the mounting plate grounded to the plate as well? Wondering if I need to remove the powder coating from the mounting plate.

Just make sure there is a spot where the bolt goes thru.