BIDDING PROCEDURE FOR THE FIDE WORLD BLITZ & RAPID CHAMPIONSHIPS 2017 (MEN & WOMEN)

1. FIDE is opening a bidding procedure for the FIDE World Blitz & Rapid Championships 2017 (Men & Women).

2. Each bid shall contain the following particulars as minimum:

a) Proposed exact dates for the event after 19th December 2017.
b) Proposed venue of the event.
c) Proposed prize fund for the players (as per regulations, should be offered net of any applicable local taxes).
d) The contribution to FIDE (net of any applicable local taxes and 20% of the prize money).
e) Commitment to cover all the other financial obligations to FIDE, in accordance with the Rules & Regulations the FIDE World Blitz & Rapid Championships 2017 (Men & Women).
f) Commitment to cover all organizational costs, in accordance with regulations.
g) Category of official hotel (minimum 4- stars), and name if possible, with special room rates for visitors (including meals).
h) A statement that the applicant accepts the regulations of the event without any reservations.
i) An invitation for 2 (two) members of the FIDE Commission for World Chess Championships and Olympiads to inspect the proposed venue and examine the other conditions, with all travel/hotel expenses paid by the bidder.
j) The applicant's name, signatures and authentication.

3. In order for a proposed bid to be considered, it should be accompanied by a 5-month term bank guarantee covering the amount of prize fund, the FIDE contribution (20% over and above the prize fund) and the amount of 30,000 euros covering stipends of Principals as described in regulations. This guarantee should be from a bank that FIDE bankers, UBS of Switzerland, are able to confirm as acceptable.

Alternatively to the above paragraph, a bidder can deposit in FIDE’s bank account the amount of 100,000 euros by the deadline of 15 September 2017 (refundable if the bid is rejected) and the balance by 30 September 2017.

4. A bid is considered valid if it is accompanied with a non-refundable Bid Fee of 500 euros payable to FIDE.

5. No bidder can use a sponsor which shall be in conflict with the regulations of the International Olympic Committee (IOC).

6. The bids, including all original documents and particulars, shall arrive by registered post to the FIDE Secretariat, post address: 9 Syggrou Ave., 11743 Athens - Greece. The bidding will close on 15 September 2017, 13:00 GMT.

7. When the deadline has expired, the FIDE Deputy President or his representative shall open the received envelopes in order to assess the bids. FIDE will inform the bidding parties of the results within 20 days after the deadline.

8. FIDE reserves the right to accept a bid based on the evaluation of all criteria under article 2 of the present bidding procedure and not only that of the prize fund. FIDE also reserves the right not to award any bid at all, however favourable it might be.