ECOWAS Tenders Code Chapter III: Bidding Documents and Bid Security Section I: Bidding Documents Article 50: List of Bidding Documents The list of the documents required in the invitation to bid, with or without prequalification, and of the bidding documents themselves shall be specified in the Procurement Manual. Article 51: Availability of Bidding Documents The procuring entity shall provide bidding documents, including a format of the contract, immediately after first publication of the bid notice to all suppliers, contractors or service providers who may respond to the invitation to bid on payment of a non refundable fee for which a receipt shall be issued. Section II: Bid Security Article 52: Conditions Related to Bid Security 1. The procuring entity may include in the bidding documents a condition that bids must be accompanied by a bid security in the form of an irrevocable letter of credit, certified cheque, surety, bond or bank / Insurance guarantee which could be issued by a reputable bank in an ECOWAS Member State. This guarantee is mandatory for procurement above 100,000 UA. Such guarantee is not required for the contracting of intellectual services. 2. ’The procuring entity must not reject a bid security issued by a reputable foreign bank/insurance company located outside the territory of the ECOWAS Member States with a corresponding bank or insurance company in an ECOWAS Member State.. 3. Bidding documents should specify the amount of the bid security. The amount of such security shall be between one (1) and two (2) per cent of the contract cost estimate, or the bid price, and shall remain valid for 30 days following the expiry of the bid validity. 4. Bid security may be forfeited if a bidder withdraws his bid within the validity period or, in the case of a successful bidder, if the bidder fails to sign the contract or to furnish performance security, if so required. Article 53: Return of Bid Security The procuring entity shall have no claim on the bid security, and shall promptly return, or effect the return of the bid security document, after whichever of the following that occurs earliest: a) The expiry of the bid security; b) The entry into force of a public contract and the provision of a performance bond, if such security is required by the bidding document; c) The cancellation of the bidding proceedings; d) The withdrawal of the bid prior to the deadline for the submission of bids. Final Page 24