3.2.13 The suppliers who responded to the Invite EOI and have provided the required information should be evaluated against the evaluation criteria set out in the Invite EOI. The purpose of this stage is to assess the technical competency and financial soundness of the interested suppliers. It is not intended to cover proposals for that particular project and hence, factors relating to the award of the contract should only be considered at a later stage of the tendering process. The following information could be evaluated to assess the financial soundness of the bidders at this stage:
a) Financial ratios, such as interest cover for the PPP SPV proposed by the bidders;
b) The bidding costs estimated by the bidders as a gauge of their understanding of PPP complexity), and how they intend to fund their bid costs;
c) The financing proposals, i.e. how the bidders intend to finance the project. For instance, a bidder can present a letter of undertaking from the parent companies involved of their equity investment in the SPV; and
d) Details of who is going to advise bidder on financial issues including information and expertise.
3.2.14 The GPE must not change the evaluation criteria or waive any mandatory and essential requirements or contractual terms after the closing of the Invite EOI. Any applications received after the closing date must be rejected.