with these procedures until the award of a contract to the successful bidder is announced.
3.6 Examination of bids Following the opening, it should be ascertained whether material errors in comp utation have been made in the bids, whether the bids are substantially respon sive to the bidding documents, whether the required sureties have been provided, whether documents have been properly signed, and whether the bids are other wise generally in order. If a bid is not substantially responsive to the bidding doc uments, or contains inadmissable reservations, it should be rejected, unless it is an alternative bid permitted, or requested, under the bidding documents. A technical analysis should then be made to evaluate each responsive bid and to enable bids to be compared. A detailed report on the evaluation and comparison of bids setting forth the specific reasons on which the decision for the award of the contract, or rejection of all bids, is based, should be prepared by the recipient or by its consultants. The OPEC Fund will specify whether this report should be submitted to it for its review prior to a final decision on the award being made. 3.7 Postqualification of bidders In the absence of prequalification, the recipient should determine whether the bidder whose bid has been evaluated the lowest has the capability and financial resources to carry out effectively the contract concerned. If the bidder does not meet that test, his/her bid should be rejected. 3.8 Evaluation and comparison of bids The purpose of bid evaluation is to determine the cost of each bid to the recipient in a manner that will permit a comparison of bids on the basis of their evaluated cost. The bid with the lowest evaluated cost, but not necessarily the lowest sub mitted price, should be judged the most advantageous offer. Bid evaluation must be consistent with the terms and conditions set forth in the bidding documents. In addition to the bid price, other relevant factors such as the time of completion of construction or delivery, operating costs where applicable, or the efficiency and compatibility of the equipment, the availability of service and spare parts, and the reliability of construction methods proposed should be taken into consideration, to the extent and in the manner specified in the bidding documents, in determin ing the lowest evaluated bid. These factors should, to the extent practicable, be expressed in monetary terms, or given a relative weight in the evaluation provisions of the bidding documents. Price adjustment provisions applying to the period of execution of the contract should not be taken into account in the evaluation.
16
Powered by FlippingBook