7. Review of bidding documents, procedures and contracts by the OPEC Fund The loan agreement with the recipient will specify which of the pre- or post-award review of bidding documents and procedures by the OPEC Fund described here under shall apply in respect of the different categories of goods and works to be financed out of the proceeds of the financial assistance. Where bidding documents are to be reviewed by the OPEC Fund prior to invit ation to bid, the following procedures shall apply: a) Before bids are invited, the recipient shall furnish to the OPEC Fund, for its comments, the text of the invitation to bid and the specifications, other bidding and draft contract documents for the civil works, supply of goods, or installation of equipment, as the case may be, together with a description of the advertising procedures to be followed for the bidding, and shall make such modifications in the said documents or procedures as the OPEC Fund shall reasonably request. Any further modification to the bidding documents shall require the OPEC Fund’s concurrence before being issued to the prospective bidders. If the OPEC Fund requests a copy of the text of the invitation to bid, is should be furnished to it (the OPEC Fund) at least 30 days before the bidding documents are expected to become available. b) After bids have been evaluated, the recipient shall, before a final decision on the award is made, furnish to the OPEC Fund in sufficient time for its review, a detailed report on the evaluation and comparison of the bids received, together with the recommendation for award and such other information as the OPEC Fund shall reasonably request. c) The terms and conditions of the contract shall not, without the OPEC Fund’s concurrence, materially differ from those on which bids were invited. In the event that prior review of the bidding documents is not required by the OPEC Fund, the recipient shall furnish to the OPEC Fund, promptly after the sig nature of the contract, and before the first application for withdrawal of funds, a report on the evaluation and comparison of bids, recommendations for contract award, as well as two certified or conformed copies of the contract and such other information as the OPEC Fund may reasonably request. If the OPEC Fund determines that the intended award (in the case of prior review under a), b) and c) above) or the actual award (in the case of subsequent review) was not consistent with the terms of its agreement with the recipient, it will promptly inform the recipient of its determination and state the reasons therefore and, without limiting any remedy of the OPEC Fund under its agreement with the recipient, the contract will not be eligible for financing by the OPEC Fund.
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