Common use of Transaction Description Clause in Contracts

Transaction Description. Bidders are required to submit their Proposals in individually sealed envelopes/packages comprising (1) a Technical Proposal and (2) a Financial Proposal, along with all further documentation required in Section 4; • ▇▇▇▇▇▇▇ organized as a Consortium have to submit a Consortium agreement signed amongst all Consortium Members designating the Consortium Leader and specifying the roles of each Consortium Member. A notarized power of attorney by virtue of which each Consortium Member authorizes the Consortium Leader to represent the Consortium and the Consortium Members, sign on their behalf and bind them jointly and severally should be submitted with the Consortium agreement. The notarized power of attorney should be established before a Public Notary in Lebanon and, if established abroad, should be legalized and authenticated by the Lebanese Embassy in the country where it was established; 1 The Business Plan will not be scored in the frame of the award process, however, as a technical Qualification Criterion, it is expected that Bidders outline their respective approaches to the different fields of the envisaged container terminal management, operation and maintenance contract. It should therefore reflect a description of Bidders’ understanding of the scope and their approach to delivering the management, operation and maintenance services. • After the Submission Deadline, the Evaluation Committee will conduct a transparent evaluation process by assessing, successively, the fulfillment of the Eligibility Criteria, the Qualification Criteria, the Technical Proposal and the Financial Proposal; • In the frame of the assessment of the technical Qualification Criteria, the Business Plan submitted by Bidders will be assessed upon its plausibility, reasonable approach and development, mission and vision of the Bidder and although not being subject to a scoring exercise, it should reflect the understanding of the Bidders of the scope of expected services and their approach to meet the expectations; • The Evaluation Committee will establish a ranking of all Proposals which will be headed by the one containing the lowest Container Handling Fee proposed by the Bidders; • Based on the established ranking, the Preferred Bidder will be identified and invited to initiate the procedure leading to the signature of the Contract; • The effectiveness of the Contract is subject, inter alia to the incorporation of a joint stock company in accordance with Section 5.5, the submission of a Performance Bond, the transfer of labor and certain contracts with third party service providers from BCTC to the newly established joint stock company within a specified period of time; • Once the conditions precedent set out in the Contract are fulfilled, the Manager will have to provide the management, operation and maintenance services in accordance with the terms of the Contract. The detailed schedule of the Tender Process is outlined in Section 5.3.