7.03 Procurement and Use of Goods (a)
Procurement of Goods . Except as OPEC Fund shall otherwise agree, the procurement of Goods shall be in conformity with the Procurement Framework or with such other pro- cedures conforming substantially thereto as may be acceptable to OPEC Fund, including the guidelines or other instruments of like effect issued by the Project Country, the Loan Administrator or co-financier. Where relevant, reference to the cost of Goods shall be deemed to include the cost of importing such Goods into the Project Country and deliv- ery to the Project site. (b) Use and Maintenance of Goods and Facilities. Any Goods procured under the Project shall be used exclusively for the purposes of the Project. The Borrower shall ensure the proper operation and maintenance of all Goods procured and facilities related to the Project. 7.04 Project Documents The Borrower shall furnish to OPEC Fund and, where applicable, to the Loan Administrator, promptly upon their preparation, the Procurement Documents, as well as the procurement plan, implementation schedule, financial management, fund flow arrangement, environmental and social safeguards docu- ments and any other Project-related technical document, as well as any material modifications thereof or additions thereto, in such detail as OPEC Fund and the Loan Administrator shall reasonably request.
7.05 Project Records, Information, Visits and Audit The Borrower and, where the context requires, the Guarantor shall:
(a) maintain records, policies and procedures adequate to record and monitor the progress of the Project on an on-going basis (including its cost and the benefits to be derived from it), to identify the Goods and to disclose their use in the Project and shall provide such records to OPEC Fund if requested; (b) maintain records adequate to reflect in accordance with sound and consistently main- tained accounting standards, the operations, resources and utilization of Eligible Expenditures and, where the Borrower is a State or a Government, of the departments or agencies of the Borrower responsible for the implementation of the Project and shall make such records available to OPEC Fund and the Loan Administrator upon request of either party; (c) afford representatives of OPEC Fund and the Loan Administrator (if any) reasona- ble opportunity (including providing, upon request, an entry visa to the country free of charge) to visit any part of its territory for purposes related to the Loan, including the Project facilities construction sites, and associated facilities and to examine any Goods and any records and documents related thereto; (d) furnish to OPEC Fund and the Loan Administrator all relevant Project information, quar- terly reports on Project implementation in accordance inter alia with the agreed Project Results Framework, environmental and social monitoring reports, as well as any other reports the OPEC Fund and the Loan Administrator shall reasonably request, concerning the Project in general, its implementation in conformity with the Legal Agreement, and proof of utilization of the Loan Proceeds for Eligible Expenditures. All such reports shall be in form and substance satisfactory to the OPEC Fund; (e) promptly after completion of the Project, but in any event not later than six (6) months after the Closing Date, or such later date as may be agreed for this purpose after consul- tation between the Borrower and the OPEC Fund and Loan Administrator, prepare and furnish to OPEC Fund and the Loan Administrator: (i) a Project completion report, in form and substance satisfactory to the OPEC Fund
OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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