1. FIDE is opening a bidding procedure for the FIDE Candidates Tournament 2012 which will determine the challenger for the World Championship Match in 2013.

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

a) Proposed exact dates of the event in the last quarter of 2012.
b) Proposed venue of the event.
c) Proposed prize fund for the players (minimum 420,000 euros & should be offered net of any applicable local taxes).
d) The contribution to FIDE (net of any applicable local taxes and not less than 20% of the prize money) as well as the financial obligations stated in chapters 3 and 4 of the Rules & Regulations of the Candidates Tournament 2012.
e) Commitment to cover all the other financial obligations to FIDE, in accordance with the Rules & Regulations of the Candidates Tournament 2012. 
f) Commitment to cover all organizational costs, in accordance with the Rules & Regulations of the Candidates Tournament 2012.
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 10-month term bank guarantee covering the amount of prize fund (minimum 420,000 euros), the FIDE contribution (20% over and above the prize fund) and 41,000 euros covering stipends of Principals as described in article 4.7.2.1 of the event 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 31 January 2012 (refundable if the bid is rejected), another 50% of the prize fund by 30 March 2012 and the balance by 31 August 2012.

4. A bid is considered valid if it is accompanied with a non-refundable bid fee of 1,000 euros payable to FIDE.

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

6. Τhe commercial agency of FIDE (CNC) reserves all rights for the live transmissions of the event and its games. The organiser of the event can have its own website and if the organiser wishes to implement the live transmission of the games, CNC must be consulted beforehand.

7. The bids, including all original documents and particulars, should arrive by registered post to the FIDE office, post address:

9 Syggrou Ave., 11743 Athens - Greece.

The bidding process will close on 31 January 2012, 13:00 GMT.

8. When the deadline has expired, the FIDE 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. The final contract with the successful bidder shall be signed within 10 days afterwards.

9. 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.