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BIDDING PROCEDURE: FIDE WORLD WOMEN’S CHAMPIONSHIP 2014 |
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Friday, 21 February 2014 12:49 |
BIDDING PROCEDURE FOR THE FIDE WORLD WOMEN’S CHAMPIONSHIP 2014
1. FIDE is opening a bidding procedure for the FIDE World Women’s Championship (knock-out system, 64 players) to be held 9-31 October 2014.
2. Each bid shall contain the following particulars as minimum:
a) Proposed venue of the event.
b) Proposed prize fund for the players (minimum 450,000 USD & should be offered net of any applicable local taxes).
c) The contribution to FIDE (net of any applicable local taxes and not less than 20% of the prize money) as stipulated in chapter 3.9 as well as all the financial obligations stated in chapter 3.21 of the World Women’s Championship 2014 Regulations.
d) Commitment to cover all the other financial obligations to FIDE, in accordance with the Regulations of the World Women’s Championship 2014.
e) Commitment to cover all organizational costs, in accordance with the Regulations.
f) Category of official hotel (minimum 4-stars), and name if possible, with special room rates for visitors (including meals).
g) A statement that the applicant accepts the regulations of the event without any reservations.
h) 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.
i) The applicant's name, signatures and authentication.
3. In order for a proposed bid to be considered, it should be accompanied by a 7-month term bank guarantee covering the amount of prize fund (minimum 450,000 USD), the FIDE contribution (20% of the prize fund), 35,000 USD for WCOC budget plus 30,500 USD covering stipends of Principals. This guarantee should be of irrevocable form and 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 150,000 USD by the deadline of 15 April 2014 (refundable if the bid is rejected), and the remaining payments will be finalized in the signed contract between FIDE and the organizer(s).
4. A bid is considered valid if it is accompanied with a non-refundable Bid Fee of 1,000 USD 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. 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 process will close on 15 April 2014, 13:00 GMT.
7. When the deadline has expired, the FIDE President or his representative shall open the received envelopes in order to assess the bids. FIDE will announce the results within 15 days after the deadline. After the organizer has been selected, FIDE and the organizer shall sign a contract within 10 days, covering the organization of the FWWCM, the terms of payments and all other financial and technical requirements.
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. In the event that FIDE receives a satisfactory open offer that covers all the minimum financial requirements, then FIDE may immediately terminate any bidding procedure already opened. FIDE also reserves the right not to award any bid at all, however favourable it might be.
Released by the FIDE Secretariat - 21 February 2014
REGULATIONS
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