5.3.1 Procurers should prepare thoroughly. At interview, they should ensure the key contacts in the advisory firm are present. Procurers might ask advisers the following types of question in order to assess their perceived ability:
• What do you see as the major issues to be addressed on this project?
• What do you think makes you particularly well suited to advise? What is your experience in this sector or specialism?
• What resources do you intend to devote to the project? What other advisers do you think we need to appoint? Why? When? How will you work with them? How do you rate the feasibility of the proposed timescale for this project?
• What is the relevant PFI experience of the personnel you intend to use? What is their role in your team? How many other projects will they be supporting at the same time? Are there any conflicts of interest?
• What do you see as the key to achieving suitable risk transfer? How would you structure the transaction in terms of how you see the risk transfer working?
• How would you structure the Invitation to Negotiate so that it encourages innovation yet provides a basis for evaluation and comparison?
• What is your experience of developing price mechanisms? How would you handle variant bids?
• What are your views on the necessary documentation?
• What types of investors or lenders are likely to be interested in this type of transaction? How do you think they will perceive the different types of risks?
• How will the financing structure the private sector propose affect the structure of their advisory bid in terms of fee arrangement?
• What experience have you had in raising funding itself? In what types of markets? Are they the same as those which we will be approaching? What is your approach to market sounding?
5.3.2 After the interview process, procurers should be in a position to have one or more front runners as Preferred Bidder. Particularly if the transaction is sufficiently large or important, these may be taken to a second interview. Procurers are encouraged not to stand down all the other leading bidders until a Preferred Bidder has been selected and a contract agreement reached.
5.3.3 It may be useful to appoint a Reserve Bidder who, whilst not expected to commit any more resources to the bidding process at this stage, agrees to be ready and available to negotiate should difficulties with the Preferred Bidder arise.
5.3.4 Unsuccessful tenderers should be given full and honest feedback in order that they may improve their bids in future, and have a right to de-briefing under EC public procurement rules if they request it.