1.4 Prequalification of bidders Prequalification is normally advisable for large or complex contracts to ensure, in advance of bidding, that invitations to bid are confined to capable firms. The OPEC Fund will specify whether prequalification is required in respect of particular con tracts. Prequalification should be based entirely upon the ability of the interested firm to perform the particular work satisfactorily, taking into account inter alia:
(i)
experience and past performance on similar contracts,
(ii) capabilities with respect to personnel, equipment and plant, and (iii) financial position.
The prequalification should be advertised and notified as described in Para. 1.3 above. The scope of works, abbreviated specifications, and a clear statement of the requirements for qualification should be sent to all firms desiring to be considered for prequalification. When prequalification is employed, all firms which are found, by the recipient and the OPEC Fund, to be qualified should be permitted to bid.
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