General introduction The purpose of these guidelines is to inform both those carrying out a project* in the financing of which the OPEC Fund for International Development (the OPEC Fund) participates, and those interested in providing the goods and services for that project, of the arrangements which should be made for procuring the goods and services required. The rights and obligations of the recipient** of OPEC Fund loans, with respect to the suppliers of goods and services for the financed project, are governed by the relevant bidding documents issued by the recipient and not by these guidelines or the loan agreement. Unless the OPEC Fund requires otherwise, these guidelines shall be followed in the procurement of goods and services under the loans extended and administered by the OPEC Fund. To the maximum extent possible, they shall also apply to the procurement of goods and services under OPEC Fund loans administered by other agencies and, when practical, to the procurement under OPEC Fund grants. The OPEC Fund is required to ensure that the proceeds of any financing from its resources are used with due attention to considerations of economy, efficiency and social equity. Accordingly, the OPEC Fund requires its recipients to obtain goods and services, as a general rule, on an international competitive bidding basis. The detailed arrangements between the OPEC Fund and the recipient regarding the use of the proceeds of the financial assistance and the recipient’s acceptance of these guidelines with any particular modifications or departures agreed upon between the parties will be included in each case in the contractual documents for the financial assistance. Normally the OPEC Fund finances only a part of the cost of the project. Procurement procedures for the items not financed by the OPEC Fund may be subject to these guidelines or procured under other procedures as agreed between the recipient and the OPEC Fund.
No party other than the recipient may derive any rights from the loan agreement or have any claim to the proceeds of such loan.
* The word “project” also refers to a program. ** The term “recipient” as used in the Guidelines includes the agency or the entity which is responsible for the implementation of the project but is not the direct recipient of financial assistance from the OPEC Fund.
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