Chairman: Andrew Baxter, Member of the Executive Board, Chief Financial Officer
The main function of the Tender Committee is obtaining the most favorable terms for acquisition of goods, work and services required for the Bank's main activities (hereinafter referred to as “purchases”) on the principles of competitiveness, transparency and team decision making. The main goal of the Tender Committee is to cut budget expenses and secure corporate interests of the Bank as well as to strengthen image of the Bank as an accurate and transparent partner.
The Tender Committee is headed by the Chairman appointed by the Bank's Executive Board. The numerical and personal membership of the Tender Committee is approved by Order of the Bank's Executive Board Chairman upon presentation of the Chairman of the Tender Committee.
The Tender Committee has the authority to pass a final resolution on approval of tender results and all material terms and conditions of agreements (contracts) within its competence. A resolution of the Tender Committee may be overruled only by a resolution of the Bank's Executive Board.
All resolutions of the Tender Committee are passed subject to available outlays items for the corresponding purposes in the approved budget, and in case of transactions for amounts exceeding 200,000 (two hundred thousand) US dollars — subject to the corresponding available outlays item in the approved budget and resolution of the Investment Committee or Bank's Executive Board, if such resolutions must be available in relation to such projects.
