- Evaluation procedure diagram:
- After the submission of each Expression of Interest, HDBI will proceed with its examination with professional diligence and judgment following the following procedure, as shown in the diagram above
Phase I: Submission of the Expressions of Interest and checking that the formal conditions laid down in the Call are met
- Interested parties should initially submit to HDBI the Expression of Interest, which should be complete and well-documented . The Expression of Interest should be delivered both by e-mail and in hard-copy (by hand or by registered letter or by courier) at the following contact details:
HDBI, 3 Merlin str., Athens, 10671
Email: [email protected]
In case of discrepancy between the contents of the electronic file and the physical file, the contents of the electronic file shall be deemed to have overriding effect. Within three (3) days from receiving the physical file, HDBI shall sent an email confirming that the Expression of Interest has been received. It is clarified that the above confirmation is not a statement or acceptance of the completeness of the file, nor acceptance of the proposal by HDBI.
- Once the proposal is submitted, HDBI will check the fulfillment of the typical conditions set out in this Procedure and shall thenVII (GROUNDS FOR EXCLUSION) carry out an initial assessment of the following: (a) whether there are any grounds for exclusion according to the terms of Chapter herein; (b) whether the Expression of Interest includes all supporting documents and information laid down in chapters I to V and VIII of this procedure and (c) if in the proposal submitted through the Expression of Interest there is in principle non-fulfillment of the criteria of chapter VIII “SELECTION CRITERIA”.
- HDBI will inform via e-mail each interested party, within thirty (30) days from the submission of the Expression of Interest, whether the Expression of Interest and the accompanying proposal meet in principle the information referred to in paragraph 3 above (in which case the examination of the Expression of Interest will proceed to the Second Stage below) or not (in which case the interested party in question has the right to submit objections in accordance to Chapter X (RIGHT OF OBJECTIONS) of this procedure.
Phase II: Substantive Evaluation of Expressions of Interest
- For each Expression of Interest, which meets the information referred to in paragraph 3 above [either after the completion of the initial audit in accordance with paragraph 4 above, or after acceptance by HDBI of the objections of the interested party in accordance with paragraph 2 of Chapter X (RIGHT TO OBJECTIONS) below], HDBI will carry out a substantive evaluation of the Expression of Interest, which includes the control of the quality criteria of this procedure, as set out in Chapter VIII (SELECTION CRITERIA). HDBI will be able to examine more than one Expression of Interest at the same time and will be able to request from the interested parties any additional information, clarification or information, which are not elements of fulfillment of the formal conditions of paragraph 3, but clarifications, which may need to be examined, as a result from the due diligence procedure of the next paragraph and which will be submitted in writing by the Offeror In the framework of the above procedures, the interested parties will be invited to present to HDBI the proposal contained in the Expression of Interest.
- This will be followed by a thorough evaluation by HDBI, ie research, control and / or review of the Expression of Interest, of the proposal contained in it and its individual elements, including the confirmation of facts or details and the assessment of the risk. In carrying out the due diligence procedure, HDBI reserves the right to visit the premises of the applicant, a right exercised by it at its discretion. If the above evaluation and control of the proposal contained in the Expression of Interest is successful and has been approved by the competent corporate bodies, (see the diagram of paragraph 1) the interested parties will be invited to determine in detail the terms of the Management / Investment Agreement, otherwise they will be informed via email that their proposal contained in the Expression of Interest is rejected. The above invitations do not create any obligation for HDBI to conclude the Management / Investment Agreement.
Phase III: Conclusion of a Management Agreement or final rejection of the Expression of Interest
- The conclusion of the Management / Investment Agreement is subject to the approval of its final plan by the competent bodies of HDBI. Once (and if) it is received, HDBI will invite interested parties to conclude the relevant Management / Investment Agreement.
- Without prejudice to paragraph 9 of this chapter, HDBI will inform by e-mail, within ninety (90) days from the submission of the Expression of Interest, any interested party who was invited to present the Expression of Interest in accordance with paragraph 5, if the conclusion of a Management Agreement has been approved by the competent bodies of HDBI. The drafting of the Management / Investment Agreement is done under the supervision of the interested party within 30 days from the above notification to the interested party. In the event that the above Management Agreement / Investment Agreement is not signed within the above period, HDBI, and if the above Expression of Interest is an Earlier Expression of Interest, may proceed to the evaluation and acceptance of a subsequent Expression of Interest against the initial priority of paragraph 9 of this Chapter IX (MANAGER(S) SELECTION PROCEDURE)