OREANDA-NEWS. April 24, 2012. Those organizations that are willing to participate in the tender shall submit tender bids to ARARATBANK OJSC (Hereinafter the Bank) in compliance with the requirements of public notification on tender, reported the press-centre of ARARATBANK.

1. Tender bids shall include the following information and documents:

a) Participant’s name, address, phone numbers and the copy of the state registration certificate,

b) List and rates of services to be delivered,

c) Description of services and delivery period,

d) Number of similar services delivered during the previous reporting year (both number and amount). Specify customers and attach copies of agreements,

e) Other necessary information and documents certifying the quality of goods and services to be delivered (at the discretion of the participant),

f) Document certifying the payment of the participation fee.

2. Participants shall comply with the following criteria:

a) Minimum three years of experience in organizing auctions,

b) Minimum two specialists with at least one year of professional experience in the relevant field,

c) Commission-related minimum rate acceptable for the Bank,

d) Relevant web-site necessary for organization of auctions,

e) Clear-cut procedure for organizing auctions,

f) Indoor warehouse for custody of the confiscated property, as well as insurance thereof from natural disasters, fire, robbery and attack in the amount of up to AMD 20.000.000 (twenty million), as well as fireproof safe boxes in the warehouse for precious metals and stones or articles made thereof.

Tender bids shall be submitted in the glued, sealed and signed envelope. Documents to be submitted in the envelope shall be comprised of the original and one copy of the document with relevant marking on them: “Original” and “Copy”. Venue/address/ of the tender bid to be submitted, mentioned in the public notification on tender, and the following note "not to be opened before the tender- opening session” shall be written on the envelope. Participants shall pay participation fee in the amount of AMD 5,000 (five thousand) to the Bank’s cash desk or shall transfer the mentioned amount to the Bank account 103002101519 before submission of tender bids. The fee is not refundable irrespective of the tender outcome except for the case of tender cancellation.

The participants may change or withdraw bids before the deadline. Any changes introduced into the bid shall be submitted in the glued, sealed and signed envelope adding the following word on the envelope: “Changes” An agreement shall be signed between the Bank and selected participant(s) within 15 business days after the minutes on tender results have been taken. Moreover, the Bank shall propose the winner to sign the agreement within 10 business days after the minutes on tender results have been taken.

More than one organization may be announced winner taking into account the criteria mentioned in paragraph 2 of present terms and conditions, nature, rates and quality of services as well as other circumstances.