4.1.2 Invitation to tender <1>(2)

Preparation of the tender documents will usually have begun during the last step in Stage 3.2 (prepare draft PPP contract) but to be time efficient, finalisation often takes place during the prequalification period.

□ The invitation to tender documentation should contain all the information that bidders will need to bid. It is important that advisers devote sufficient time and effort to develop the documentation in enough detail to ensure comparability of the bids and to reduce the need for debate and clarification before signing the contract.

□ The tender documentation, which is usually extensive in detail and volume, will normally include (but not be limited to) information such as the following: <3>,<4>

• Detailed information memorandum about the project;

• Summary of the key commercial principles, including the obligations of each party and risk allocation;

• Detailed output specifications and minimal required design and technical features;

• Full draft PPP contract (which, in some countries, would be based on mandatory standard contract terms or on required guidelines of some kind);

• Instructions to bidders concerning all the information they must submit and the detailed procedures (date and time, etc.) for submission;

• Evaluation criteria; and

• Requirements for bid bonds or equivalent security.