The recommendation as to the preferred bidder, the Fourth File, including the Fourth File Summery Report, shall be submitted to the Supervisory Committee for review and approval. The Work Team shall present these documents to the Supervisory Committee, field any questions related thereto, provide supplementary information upon request, and provide supporting rationale for the selection of the preferred bidder and the Fourth File analysis.
A. After the completion of the review and evaluation of the Fourth File, the Supervisory Committee shall make one of the following decisions:
1. The Supervisory Committee agrees to continue to the stage of contracting, signing, and commercial and financial closure if it turns out that the project is worthy of contracting and moving to the commercial and financial closure, and the results of the evaluation of the Fourth File match the conclusion reached by the Supervisory Committee in its evaluation of the Third File. The Supervisory Committee shall undertake the necessary procedures for the commercial and financial contracting and closing process.
2. If it turns out that the project is not worthy of contracting and moving to commercial and financial closure, but the Supervisory Committee determines that these issues can be dealt with. The Supervisory Committee shall identify such issues and direct the Work Teams to resolve them, and resubmit the Fourth File for further review and approval.
3. The Supervisory Committee shall reject the Fourth File if it found that the project is not worthy of contracting and moving to commercial and financial closure or contains errors or omissions in the process or documents in relation to the Fourth File, and that modification has not been possible at the discretion of the Supervisory Committee.
B. In all cases, if the Supervisory Committee finds that the results of the evaluation of the Fourth File do not match the conclusion reached by the Committee in its evaluation of the Third File, the Supervisory Committee shall not enter into the contracting process until it is submitted and approved by CEDA, unless the Supervisory Committee was authorized by CEDA to take such approval.