Announcement regarding of the Tender on realization of the exporting electricity by the Ltd. “Engurhesi” on the border of Georgia and Armenia
I. General terms of the supply of the electricity
1. The total exporting forecasting volume of the distribution of the electricity generated by the Ltd. “Engurhesi” during the month of May, 2021 shall be at a capacity up to 50 MW (Base Load).
2. The supply of the electricity by the Supplier will be provided on the carrier owned by Ltd. “Engurhesi” (Delivery Point). Title ownership on the electricity shall be transfered to the Buyer at the moment of supply at the Delivery Point.
3. The forecasting calendar plan-schedule of delivery of the electricity of an accounting month is confirmed by the Parties of the Agreement together with the Agreement, and any amendment or changes into the schedule should be agreed prior to the beginning of the accounting period.
4. The schedule of the accounting month, prior to the month or within the period of the currency of the month, as well as proceeding from the actual reasons independent upon the Supplier as well as other force-majeure circumstances which also may be connected with deficiency of the water inflow, the technical operational requirement of Georgia or Armenia, the damage transmitting system of Georgia or Armenia, systematic collapse or any other case causing, may suffer from significant corrections and therefore because of such circumstances the Supplier is excluded from its responsibilities.
5. Temporary termination (interruption) of the delivery, which will be recognized as a reasonable excuse in case of requirement of a technical operator of the system (including operative requirement) and existence of such circumstance should be informed to the Buyer within at least 24 (twenty four) hours since their appearance. Therefore such circumstances exclude the Supplier from its responsibilities.
II. Terms of submittal of a Commercial Offer
1. The Applicant, according to paragraph 2 of the present announcement, shall submit via E-Mail a Commercial Offer in Georgian with indication of a price per 1 kWh (in GEL Tetris with rounding to hundredth.
2. Prior to the conclusion of the Direct Contract on the Export of Electricity the winning applicant shall submit an Unconditional and Irrevocable Bank Guarantee issued by a one of the licensed Bank of Georgia encompassing the volumes of electricity that is set to be purchased. The above must be valid for at least 40 days beyond the expiration of Direct Contract on the Export of Electricity.
3. The documents indicated in the paragraph 1 shall be submitted by the Applicant not later than the 04 May, 2020, 03:00 p.m. (Georgian Time) from the day of publishing of an announcement on the official web-site of the Ltd. “Engurhesi” – www.engurhesi.ge. If not, an offer submitted by the Applicant will be recognized as a withdrawn. A commercial offer and all respective documents shall be submitted via following email: email@example.com.
III. Terms of verbal trade and evaluation of a commercial proposal
1. The winner will be the Applicant who represented the highest price. In case of equal prices, the priority will be given to the Applicant having fixed the highest price first.
2. In case of proposing of an unreasonable price which isn’t acceptable, the Ltd “Engurhesi” reserves all rights not to conclude Contract on Export of the electricity. Any result of the Tender will be declared as annulated and currency of the Tender won’t be followed by any legal result that, accordingly, excludes submittal of any kind of claim towards the Ltd “Engurhesi”.
IV. General terms of conclusion of the Agreement
1. The terms and Conditions of the Electricity Export Contract will be defined solely by Ltd. “Engurhesi”.
2. An obligatory term is “Take or Pay”, that means that in case of final confirmation of the calendar plan-schedule of delivery of the electricity of the accounting month (months) by the Parties and if the Buyer fails to purchase the electricity defined by the above mentioned schedule the Buyer will be responsible to compensate the whole amount of electricity whether or not taken.
3. The Electricity Export Contract shall be regulated by the Georgian legislation. All and any disputes arising out of or in connection with Direct Contract on the Export of Electricity shall be finally settled exclusively only by the courts of Georgia, excluding all and any other state courts jurisdictions and arbitration. This choice of jurisdiction of Georgian state courts shall confirm parties agreement on exclusive jurisdiction of Georgian state courts for all and any disputes arising out of or in connection with contract. Any/either party acting against and in breach of the above clause shall be liable to another party for payment of penalty in amount of (100,000.00 USD).