bidding procedure announced
1.The FIDE Presidential Board, during its meeting in Istanbul 7-8 March 2009, decided to open a bidding procedure for the FIDE World Championship Match 2010 (FWCM 2010) between the current World Champion GM V. Anand (India) and Challenger GM V. Topalov (Bulgaria).
2.Each bid shall contain the following particulars as minimum:-
a) Proposed exact dates of the event in April 2010.
b) Proposed tournament venue.
c) Proposed prize fund for the players (minimum 1,000,000 euros should be offered net of any applicable taxes).
d) The contribution to FIDE (net of any applicable taxes and not less than 20% of the prize money) as stipulated in Article 13.2 as well as the financial obligations stated in Article 14 of the Rules and Regulations of the FIDE World Championship Match 2010
e) Commitment to cover all the other financial obligations to FIDE, in accordance with the Rules and Regulations of the FIDE World Championship Match 2010
f) Commitment to cover all organizational costs, in accordance with the match regulations.
g) Category of official hotel (minimum 4- stars), and name if possible, with special room rates including meals.
h) A statement that the applicant accepts the regulations of the match without any reservations.
i) An invitation for at least (two) members of the FIDE Commission for World Chess Championships and Olympiads to inspect the proposed venue and examine the other conditions, with all travel/hotel expenses paid by the bidder.
j) The applicant’s name, signatures and authentication.
3.In order for a proposed bid to be considered, it should be accompanied by a 8-month term bank guarantee covering the amount of prize fund (minimum 1,000,000 euros), the FIDE contribution (20% over and above the prize fund), 5% for WCO budget and 5% for the commercial rights and 32,500 euros covering stipends of Principals as described in article 14.4 of the match regulations. This guarantee should be from a bank that FIDE bankers, UBS of Switzerland, are able to confirm as acceptable. Alternatively to the above paragraph, a bidder can deposit in FIDE’s bank account the amount of 100,000 euros by the deadline of 30 September 2009 (refundable if the bid is rejected), another 60% of the prize fund by 30 November 2009 and the balance by 21 January 2010.
4. A bid is considered to be valid if it is accompanied with a non-refundable Bid Fee of 2,000 euros payable to FIDE.
5.No bidder can propose a sponsor which shall be in conflict with the regulations of the International Olympic Committee (IOC).
6.The bids, including all original documents and particulars, shall arrive by registered post to the FIDE Secretariat, post address: 9 Syggrou Ave., 11743 Athens – Greece. The bidding process will close on 30 September 2009, 13:00 GMT.
7.When the deadline has expired, the FIDE President or his representative shall open the received envelopes in order to assess the bids. FIDE will inform any bidding parties of the results of the process by 9 October 2009 the latest.
8.FIDE reserves the right not to award any bid, however favourable.