Southern Africa Development Community Secretariat – Procurement and Grants Policy (i) withdrawal or modification of the bid after the deadline for submission of bids, (ii) failure to sign the procurement contract if required by the Procuring Entity to do so; and (iii) failure to provide a required security for the performance of the contract after the bid has been accepted or to comply with any other condition specified in the bidding documents, precedent to signing the procurement contract. (2) The Procuring Entity shall make no claim to the amount of the bid security, and shall promptly return, 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 procurement contract and the provision of a security for the performance of the contract, if such a security is required by the bidding documents; (c) The termination of the bidding process without the entry into force of a procurement contract; or (d) The withdrawal of the bid prior to the deadline for the submission of bids. Article 38. Opening of bids (1) Bids shall be opened at the time specified in the bidding documents as the deadline for submission of bids, or, at the deadline specified in any extension of the deadline. They shall be opened at the place and in accordance with the procedures specified in the bidding documents. (2) All economic operators that have submitted bids, or their representatives, shall be permitted to be present at the opening of bids. (3) When open procedures are used, the name and address of each economic operator whose bid is opened as well as the bid price shall be announced to those present at the opening of bids and communicated upon request to economic operators that have submitted bids but were not present or represented at the opening of bids. A Bid Opening Report, in the format determined in the Procurement Regulations, will be made during the Bid Opening session and signed by all persons being present. (4) When the quality and cost based selection is used, only the technical proposal of the short listed economic operator shall be opened in the presence of their representatives who wish to be present. The name and address of each economic operator whose bid is opened shall be announced to those persons present at the opening of bids and communicated to all economic operators that have submitted bids. The financial proposals shall not be opened at the bid opening but kept unopened, in a safe place until the conditions for opening them (in accordance with the procedures specified in the SADC Secretariat procurement Regulations and in the solicitation documents), are satisfied. Economic operators, whose technical proposals are responsive, shall be invited to the opening session of the financial proposals. At the financial opening the Procuring Entity shall disclose for each economic operators whose financial proposals are opened, the name, the results of the evaluation of their technical offer, and the value of their financial proposal. Such information shall be recorded immediately in the Financial Bid Opening Report, in the format defined by the Procurement Regulations and communicated to all economic operators who participated in the tender. 29