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Invitation for Expressions of Interest Indefinite Delivery Contract for Pricing Agents
Background
The Asian Development Bank (ADB) has been active in promoting clean energy initiatives to minimize adverse local, regional, and global impacts. To this end, ADB has initiated the clean energy and environment program (CEEP) to increase the number of clean energy projects in the Asia Pacific region. One of the key components of the CEEP is the carbon market initiative (CMI), which provides technical support and up-front financing for clean energy projects with greenhouse gas (GHG) mitigation benefits. One of the components of the CMI is a project co-financing facility, the Asia Pacific Carbon Fund (APCF). This fund provides "up front" co-financing against the purchase of future Certified Emission Reductions (CERs) generated by eligible projects. An important component of each commercial transaction of the APCF is the process of calculating and agreeing the price paid by the APCF for CERs with transaction counterparts utilizing the expertise of independent market pricing commentators (Pricing Agents.
Modus Operandi, Expected Output, and Fees
ADB intends to pre-qualify and retain up to six Pricing Agents under an Indefinite Delivery Contract (IDC) to provide independent and expert advice on an as-required-basis on CER pricing for projects in which APCF is considering co-financing. It is anticipated that the services required under this IDC will commence on 1 April 2008 and will continue for a period of 1 year.
When required by a particular project, ADB will execute an Indefinite Delivery Contract Assignment (IDCA) where up to three of the six retained Pricing Agents will be contracted on a rotational basis to analyse relevant available information provided by APCF, including the Project Design Document, Validation Report, key contracted terms for purchase of CERs, as well as information concerning the counter party credit and the financial, operating and management performance of project sponsors. Using a standard template, the Pricing Agents will provide an Opinion Report (OR) on the prevailing market price of CERs generated by the project within 5 calendar days from the date when ADB provides the information outlined above (or as agreed to in writing by ADB). A final OR will be required within 3 calendar days of receiving ADB's comments on the draft OR. The IDCA will be implemented in the Pricing Agent's office and will not require travel to a project site.
For each completed IDCA, the Pricing Agents will receive a lump sum fee of US$3,000; this fee will remain fixed for the duration of the IDC. Notwithstanding the above, there is no obligation on the part of ADB to guarantee any work or any payment under the IDC to any party until the execution and conclusion of an IDCA.
Pricing Agents' Qualifications
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