Procurement Guidelines under loans extended by the OPEC Fund

Table of contents

General introduction ...................................................................................................................................................................................... 5 1. International competitive bidding ................................................................................................................................. 6 1.1 General ................................................................................................................................................................................................... 6 1.2 Type and size of contracts ........................................................................................................................................... 6 1.3 Notification and advertising ....................................................................................................................................... 7 1.4 Prequalification of bidders .......................................................................................................................................... 8 2. Bidding documents ............................................................................................................................................................................. 9 2.1 General ................................................................................................................................................................................................... 9 2.2 References to OPEC Fund ........................................................................................................................................... 9 2.3 Validity of bids and bid bonds or guarantees .................................................................................... 9 2.4 Conditions of contract .................................................................................................................................................... 10 2.5 Clarity of bidding documents ................................................................................................................................ 10 2.6 Standards ......................................................................................................................................................................................... 10 2.7 Use of brand names ............................................................................................................................................................ 10 2.8 Expenditures under contracts ................................................................................................................................. 11 2.9 Pricing and currency of bids ..................................................................................................................................... 11 2.10 Currencies of payment and maintenance of value ...................................................................... 11 2.11 Payment terms .......................................................................................................................................................................... 12 2.12 Price adjustment clauses ............................................................................................................................................. 12 2.13 Advance payments .............................................................................................................................................................. 12 2.14 Guarantees, performance bonds, and retention money ..................................................... 13 2.15 Insurance ........................................................................................................................................................................................... 13 2.16 Liquidated damage and bonus clauses .................................................................................................... 13 2.17 Force majeure ............................................................................................................................................................................. 14 2.18 Language .......................................................................................................................................................................................... 14 2.19 Settlement of disputes ................................................................................................................................................... 14