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									                                                     APPROVED
                                                     Order N 922of the Ministry of Economy in
                                                     Ukraine dated on 26.07.2010


                                       ANNOUNCEMENTS
                                on a two-stage bidding procedure
1. The Customer:
1.1. Name: The State Commission for Regulation of Financial Services Markets of Ukraine.
1.2. Identification company code (EDRPOU):       26297477.
1.3. Location:   3, B. Grinchenka str., 3, 01001 Kyiv
1.4. Registration account of the customer: 35213001004038 STU (State Treasury of Ukraine) in
Kyiv
1.5. Officials of the customer, who are authorized to communicate with the participants (full
name, title or position and address, phone number and fax number with indicated city telephone
code, e-mail):
Vadim Chernyshev, deputy head of computer technologies unit of the financial and economic
support department; with its address at: 3, B. Grinchenka str., 3, 01001 Kyiv, tel. (044) 234-29-
01, v_chernyshov@dfp.gov.ua.
1.6. Main funds administrator (full name and identification company code (EDRPOU): The
State Commission for Regulation of Financial Services Markets of Ukraine, ID code: 26297477


2. Source of financing: State Budget of Ukraine.


3. The web-portal of the Ministry of Economy of Ukraine, which provides information about the
purchase : www.tender.me.gov.ua.


4. Website address where additional information about the purchase (if available) is placed for
the customer : www.dfp.gov.ua


5. Purchase Information:
5.1. Name of the procurement item.
(Code SC 016-97 72.20.2.) Services on developing software package (Services to develop and
implement an integrated information system of The State Commission for Regulation of
Financial Services Markets of Ukraine)
5.2. Number of products or scope of work or services.
5.3. Place for supply of goods, works or services:
3, B. Grinchenka str., 3, 01001 Kyiv
5.4. Term of delivery of goods, works or services:
Services shall be provided withing the period from September to December 2011.


                                                                                                1
6. Place where it is possible to receive competitive tenders documentation.
Kyiv, B. Grinchenka str., 3, Room 148


7. Providing competitive tenders proposal (if the customer requires it to be delivered):
7.1. The amount: 420 000,00 UAH (four hundred and twenty thousand UAH 00 kopeks).
7.2. By way of bank guarantee
7.3. Terms and Conditions:
Validity period of competitive bidding offers is 90 days after opening the competitive bidding.
Support for the competitive bidding offer is provided at the second phase of bidding.
Provisions for competitive bidding offers will not be refunded in accordance with part 3 of
Article 24 of the Law


8. Submission of competitive bidding offers:
8.1. Venue: 3, B. Grinchenka str, Room 148, 01001 Kyiv,
The way of submission: in person
8.2. Deadline of submission: 02.06.1911 by 12:00 Kyiv time


9. Opening of competitive bidding: offers:
9.1. Venue: 3, B. Grinchenka str, Room 131, 01001 Kyiv
9.2. Date. 02.06.11
9.3. Time. at 15:00 Kiev time


10. Additional information
Supplements 1-7 to the announcement form on the two-stage bidding procedure, which is
additionally posted on the customer’s website : www.dfp.gov.ua
For further information do not hesitate to apply by phone:
(044) 234-29-01


Deputy Head,
Chairman of the Committee on competitive tenders                                   V.P. Levchenko




                                                                                                  2
The State Commission for Regulation of Financial Services Markets
                          of Ukraine

                                 APPROVED BY THE COMPETITIVE BIDDING
                                 COMMITTEE
                                 Record. №___ date __.__. 2011

                                 HEAD OF THE
                                 COMPETITIVE BIDDING COMMITTEE
                                                _____________ V. Levchenko
                                                      Stamp




                           DOCUMENTATION

                     FOR TWO-PHASE BIDDING
                                PURCHASE

                      development of batch software tools
                           DK code 016-97 72.20.2
 (Services on development and adoption of an integrated information system of
     The State Commission for Regulation of Financial Services Markets of
                                  Ukraine)


                                Kyiv – 2011
                                         TABLE OF CONTENT
1. General conditions
1.1.   Terms used in the competitive bidding documentation
1.2.   Information about the bidding Purchaser
   full name
   location
   purchaser’s official authorized to communicate with the participants
1.3.      Information about subject of purchase
   name of the subject of purchase
   type of the subject of purchase
   location, quantity and service scope
   terms of service rendering
1.4.      Purchasing procedure
1.5.      Non-discrimination of participants
1.6.     Information about the currency (-ies) in which the stated competitive bidding
     payment shall be executed
1.7.      Information about the language (-s) in which the competitive bidding proposals
     shall be composed.
2. Change orders, amendments and clarifying competitive bidding documentation
        2.1. Competitive bidding documentation clarification procedure
        2.2. Meetings procedures for the purpose of clarification of competitive bidding
             documentation inquiries procedure.
3. Preparation of preliminary and final competitive bidding proposals
3.1.     Competitive bidding proposal execution
3.2.     Participant’s competitive bidding proposal content
3.3.      Competitive bidding proposal guarantee
3.4.    Terms of returning or not returning competitive bidding proposal guarantee
3.5.    Period of validity of competitive bidding proposals
3.6.    Qualification criteria for the bidders
3.7.    Technical characteristics, quality and quantity of the subject of purchase
3.8.     Description of particular part (parts) of the subject of purchase (lot) to which
     competitive bidding proposals can be submitted
3.9.    Competitive bidding proposal amendments or cancelling by participant
4. Preliminary and final competitive bidding proposals submission and opening
   4.1. Form, location and final date of competitive bidding proposal submission
        location of preliminary competitive bidding proposals submission
        final date of preliminary competitive bidding proposals submission (date, time)
        location of final competitive bidding proposals submission
        final date of final competitive bidding proposals submission (date, time)
   4.2. Location, date and time of competitive bidding proposals opening
        location of preliminary competitive bidding proposals opening
        date and time of competitive bidding proposals opening
        location of final competitive bidding proposals opening
        date and time of final competitive bidding proposals opening
5. Consideration of preliminary competitive bidding proposals, evaluation of final
            competitive bidding proposals and selection of the most successful bidder
       5.1. Preliminary competitive bidding proposals consideration
       5.2. List of criteria and methods of its evaluation for deciding the most profitable
            competitive bidding proposal
       5.3. Arithmetic errors correction

                                                                                              2
   5.4. Declining of competitive bidding proposals
   5.5. Cancellation of biddings or their recognition as those which did not take place
   5.6. Non-participation in purchasing procedure
   5.7. Competitive bidding proposal acceptance
   5.8. Confidentiality compliance procedure
   5.9. Other information
   5.10.       Final provisions
6. Conclusion of the procurement agreement
   6.1. Terms of contract conclusion
   6.2. Significant conditions which are obligatory to be included to the purchasing
contract
  6.3. Purchaser’s actions in case the successful bidder refuses to sign purchasing
contract
  6.4. Guarantee of purchasing contract execution
Annex 1
Annex 2
Annex 3
Annex 4
Annex 5
Annex 6
Annex 7




                                                                                          3
                                       I. General conditions
              1                                                 2
1. Terms used in the           Competitive bidding documentation has been elaborated according
competitive bidding            to the Laws of Ukraine on 01.06.2010 №2289-VI «On public
documentation                  procurement» (hereafter – the Law).

                               The terms used in this competitive bidding documentation are used
                               in the meaning stipulated by the Law.
2. Information about bidding
Purchaser
full name                       The State Commission for Regulation of Financial Services Markets
                                of Ukraine
location                        3, B. Grinchenka Str., Kyiv-1, 01001
purchaser’s official authorized Vadim Oleksandrovych Chernyshov, deputy head of computer
to communicate with the         technologies unit of the financial and economic support department,
participants                    tel.: (044) 234-29-01, e-mail: v_chernyshov@dfp.gov.ua
3. Information about subject of
purchase
name of the subject of          (Services on development and adoption of an integrated information
purchase                        system of the State Commission for Regulation of Financial
                                Services Markets of Ukraine)


type of the subject of purchase Services
location, quantity and service The State Commission for Regulation of Financial Services Markets
scope                           of Ukraine. 3, B. Grinchenka Str., Kyiv-1, 01001

                                The quantity and service scope are indicated in Annex 6
terms of rendering of services, By steps, during 2011 year, according to the planned schedule and
execution of works              technical requirements, indicated in Annex 6.
4. Purchasing procedure         Two-stage bidding

                               Two-stage bidding is executed in two stages.

                               On the first stage, all the participants are asked to submit
                               preliminary competitive bidding proposals without stating the price.

                               On the first stage, proposals which do not contain price concerning
                               technical, qualitative and other characteristics of the subject of
                               purchase, terms of supply, professional and technical competence
                               approval by participants and their compliance with qualification
                               criteria shall be submitted.

                               On the first stage, participant shall submit the form given in Annex
                               1 as a part of his proposal.

                               On the second stage, the Purchaser invites all the participants,
                               whose competitive bidding proposals weren’t rejected on the first

                                                                                                   4
                                stage and appeared to be generally acceptable, but not less than two
                                of them.

                                On the second stage, participants shall submit final competitive
                                bidding proposals with indication of price.
5. Non-discrimination of        Domestic and foreign participants take part in the purchasing on
participants                    equal conditions.
6. Information about the        The competitive bidding proposal currency is hryvnya.
currency (-ies) in which the
stated competitive bidding
payment shall be executed
7. Information about the        Competitive bidding proposals and any other related documents
language (-s) in which the      shall be composed in Ukrainian.
competitive bidding proposals
shall be composed.              Names of licences proposed for delivery may be composed in
                                English.
          II. Change orders, amendments and clarifying competitive bidding documentation
1. Competitive bidding          Participants who obtained competitive bidding documentation
documentation clarification     requiring any clarification of the competitive bidding documents
procedure                       shall contact the Purchaser, provided that such request is received
                                no later than 10 calendar days prior to the deadline of submission of
                                bids.

                                The Purchaser shall forward copies of his response to all those who
                                have acquired the competitive bidding documents directly from it
                                during three days after receiving the request.

                                The Purchaser is authorized to make amendments to the competitive
                                bidding documentation on his private initiative or by results of
                                requests, extending the deadline for submission and opening no later
                                than 7 days since decision-making and notify in writing all the
                                participants that have acquired the competitive bidding documents
                                during one working day.

                                In this case the Purchaser makes amendments to the competitive
                                bidding documentation and extends the submission of bids term.

                                In case the Purchaser fails to present clarifications of competitive
                                bidding documentation contents on time or make amendments on
                                time, the Purchaser shall extend the submission and opening term
                                for period not less than seven days and notify all the participants
                                that have acquired competitive bidding documentation.

                              Information stated is announced by the Purchaser according to
                              Article 10 of the Law.
2. Meetings procedure for the In case of holding meetings for the purpose of clarification of any
purpose of clarification of   requests concerning competitive bidding documentation the
competitive bidding           Purchaser shall provide record-keeping of such meetings which
documentation inquiries       shall include all the clarifications of requests and sends copies of it
procedure.                    to all the participants that have acquired competitive bidding

                                                                                                       5
                                documentation, regardless of their presence at the meeting.

                                  Information stated is announced by the Purchaser according to
                                  Article 10 of the Law.
                III. Preparation of preliminary and final competitive bidding proposals
1. Competitive bidding            Competitive bidding proposal is submitted in a written form with a
proposal execution                signature of an authorized official of the participant, broached,
                                  numbered, with seal attached in enclosed envelope (except for the
*This demand does not             document that certifies the guarantee of competitive bidding
concern the participants that proposal that can not be broached or attached to other documents)
act without a seal in terms of
current legislation, with         The participant of the purchasing procedure is allowed to submit
exceptions to the originals or only one competitive bidding proposal.
notarially certified documents
given to the participant by       All the pages of the participant’s competitive bidding proposal of
other organisations               purchasing procedure shall be numerated and contain a signature of
(enterprises, institutions)       an authorized official of the participant of the purchasing procedure
                                  and impressions of a seal (except for notarially certified documents
                                  and originals given to the participant by other organisations
                                  (enterprises, institutions)).

                                The purchasing procedure participant’s authority concerning signing
                                the documents of competitive bidding proposal is affirmed by
                                extract from the minutes, order of appointment, power of attorney or
                                warrant.

                                Competitive bidding proposal is enclosed in one single envelope,
                                which shall contain impression of purchasing procedure
                                participant’s seal in places of pasting together*.

                                The outer side of the envelope shall contain:

                                full name and location of the Purchaser;

                                name of the subject of purchasing according to announcement of
                                holding two-phase bidding, number of state official printed
                                publication, in which the announcement of holding the procedure of
                                purchasing was published, announcement number.

                                full name (name, surname, patronymic) of purchasing procedure
                                participant, his location (place of residence), USREOU
                                identification code, contact phone numbers;

                                marking: “Not to open before _________ (the date and time of
                                competitive bidding proposals opening shall be stated)”.

                                If the envelope is not sealed and marked as required, the Purchaser
                                will assume no responsibility for premature opening, loss or delay
                                of the envelope.

                                The participant of the purchasing procedure is allowed to submit

                                                                                                     6
                               only one competitive bidding proposal.

                               The participant submits competitive bidding proposal for the whole
                               subject of purchasing, according to technical characteristics,
                               indicated in Annex 6 of competitive bidding documentation.
2. Participant’s competitive   The preliminary competitive bidding proposal which is submitted
bidding proposal content       on the first phase of two-phase bidding, shall contain:

                               list of submitted documents with stated numbers of corresponding
                               pages;

                               forms of proposal, indicated in Annex 1;

                               documents which affirm authorities of the official or representative
                               of purchasing procedure participant concerning signing competitive
                               bidding proposal documents: notarized copies or original
                               document, which confirms the status and authorities of the person
                               for signing competitive bidding proposals (extract from minutes of
                               meeting for appointment of the director, president, head of the
                               board, participant director’s power of attorney, etc.)

                               technical part of the proposal: information about necessary
                               technical, quality and quantitative characteristics of subject of
                               purchase, including corresponding technical specification (in case of
                               need (plans, drawings, paintings or description of subject of
                               purchase), as well as tables of technical requirements
                               correspondence (according to the form, indicated in Annex 4);

                               information on availability of actual software prototype (according
                               to Annex 7 requirements) and participant’s willingness to hold the
                               presentation for the Purchaser;

                               documentary confirmed information on accordance with
                               qualification criteria;

                               copies of documents proving state registration of the participant;

                               copies of USREOU certificate;

                               passport copies (for natural person), certified be the participant;

                               identification code copies (for natural persons), certified by the
                               participant;

                               Final competitive bidding proposal which is submitted on the
                               second phase of two-phase bidding, shall contain:

                               list of submitted documents with stated numbers of corresponding pages;

                               form filled according to Annex 2 of competitive bidding
                               documentation;


                                                                                                     7
                              documents which confirm authorities of the official or
                              representative of purchasing procedure participant concerning
                              signing competitive bidding proposal documents:

                              document that confirms guarantee of competitive bidding proposal
                              submission (if such guarantee is stipulated by announcement on
                              holding purchasing procedure);

                              technical part of the proposal: Information about necessary
                              technical, quality and quantitative characteristics of subject of
                              purchase, including corresponding technical specification (in case of
                              need (plans, drawings, paintings or description of subject of
                              purchase), as well as tables of technical requirements
                              correspondence (according to the form, indicated in Annex 4);

                              For correcting execution of competitive bidding proposal the
                              participant shall examine all the instructions, form, terms and
                              specifications, stated in the competitive bidding documentation.

                              Documents which are requested by the Purchaser according to
                              requirements of this competitive bidding documentation as a part of
                              competitive bidding proposal, but are not stipulated by the Law of
                              Ukraine for private entrepreneurs and physical persons, shall not be
                              submitted by them as a part of competitive bidding proposal; it shall
                              be stated by all participants in their competitive bidding proposals,
                              including grounds and reasons for not submitting documents and
                              information.


3. Guarantee of competitive   Amount of guarantee of competitive bidding proposal: 420 000,00
   bidding proposal           hrn. (four hundred twenty thousand hryvnas 00 kopiyok).

                              Type of guarantee of competitive bidding proposal: bank guarantee.

                              Submitted by participant as a guarantee of competitive bidding
                              proposal, bank guarantee shall certify undisputable duty of the bank
                              to pay the Purchaser an amount of guarantee of competitive bidding
                              in case any circumstances stated in p. 4, Section III of this
                              competitive bidding documentation occur. Should bank guarantee be
                              formulated otherwise or contain delaying conditions of coming into
                              effect, it shall be considered as not corresponding to competitive
                              bidding documentation requests.

                              Basic requests for bank guarantee: irrevocable bank guarantee shall
                              meet requirements of articles 560 – 569 of Civil Code of Ukraine (for
                              non-domestic participants – requirements of International Chamber of
                              Commerce Unified Collection Rules for guarantee on demand from
                              1992), in particular: contain period of validity, grounds for paying
                              guarantee amount according to p. 4, Section III of competitive
                              bidding documentation, documents necessary for this kind of
                              payment.


                                                                                                 8
                              The original of bank guarantee shall not be broached and attached to
                              other documents, which are included into competitive bidding
                              proposal. Bank guarantee as a guarantee of competitive bidding
                              proposal, shall be submitted whether in an envelope together with
                              competitive bidding proposal, or separately. In any case, guarantee of
                              competitive bidding proposal shall be submitted by the end of the
                              competitive proposal submission period.

                              Validity period of guarantee of competitive bidding proposal shall
                              correspond to validity period of competitive bidding proposal.

                              Should the participant fail to submit guarantee of competitive bidding
                              proposal according to the conditions of competitive bidding
                              documentation, his proposal shall be rejected.

                              Guarantee of competitive bidding proposal is submitted on the second
                              phase of the bidding.
4. Terms of returning or not  The Purchaser returns guarantee of competitive bidding proposal to
returning competitive bidding the participant during 3 banking days starting from the date when the
proposal guarantee            reason for returning guarantee of competitive bidding proposal
                              occurred in case of:

                              expiration of validity period of guarantee of competitive bidding
                              proposal, stated in competitive bidding documentation;

                              making a purchasing contract with participant, who became a
                              preferred bidder;

                              withdrawal of competitive bidding proposal before the end of its
                              submission term;

                              end of purchasing procedure in case if purchasing contract is not
                              made with any of the participants that submitted competitive bidding
                              proposal.

                              Guarantee of competitive bidding proposal shall be returned to the
                              participant during three banking days on written demand or
                              personally.

                              Competitive bidding proposals are not refunded to the Purchaser in
                              the following cases:

                              competitive bidding proposals withdrawal by participant after a
                              deadline for its submission

                              deny signing the agreement on purchase by the preferred bidder

                              failure to present guarantee of the agreement on purchase after the
                              acceptance of the bidding proposal, if such guarantee is provided by
                              the bidding proposal documentation.



                                                                                                   9
                                Finances received as a guarantee of a bidding proposal (in case of
                                being unrefunded to a competitor) are subject to being transferred to
                                the corresponding budget, and in case of purchasing by companies,
                                corporate business for non-budget funds – are subject to being
                                transferred to an account of company or corporate business.


5. Period of validity of       Competitive bidding proposals are valid for a term of 90 days since
competitive bidding proposals. the date of unfolding of competitive bidding proposals

                                Before the end of the term the Purchaser is empowered to demand the
                                continuation of competitive bidding proposals duration

                                The competitor has the right to:

                                Decline such a demand, without losing the securing of a competitive
                                bidding proposal

                                To agree with the demand and prolong the term of the provided
                                competitive bidding proposal and provided securing of the
                                competitive bidding proposal.
                                Competotors who did not prolong the term of securing of competitive
                                bidding proposals, are such who turned down the requirements of
                                prolonging of the competitive bidding proposal.


6. Qualification criteria for the In accordance with the terms of the documentation and Annexes 3
bidders                           and 4 of the documentation on the competitive bidding, the
                                  competitor provides information and documentation along with the
                                  proposal, approving his correspondence with qualifying criteria and
                                  requirements, set by the Purchasers, in accordance with the Article 17
                                  of the Law.

                                The valuation of the correspondence of competitors to qualifying
                                criteria and demands, set by the Purchaser, according to the Article 17
                                of the Law, is realized on the basis of written documents, provided by
                                competitors along with competitive bidding proposals. A competitive
                                bidding proposal which does not include abovementioned documents
                                on the correspondence to qualifying criteria or demands set by the
                                Purchaser, in accordance with the Article 17 of the Law, or otherwise
                                the content of provided documents does not meet the demands of the
                                Purchaser and is such, that does not meet the demands of competitive
                                bidding documentation.

                                The Purchaser has the right to contact the body of state authority,
                                company, establishment, organization, accordingly to the field of their
                                competence, for information approval. In case of receiving of reliable
                                information about its discrepancy to competitive bidding criteria, the
                                presence of evidences, enlisted in the Article 17 of the Law or the fact
                                of presence of unreliable information in a competitive bidding
                                proposal, which is essential during the purchase procedure results

                                                                                                   10
                                determination, the Purchaser turns down the competitive bidding
                                proposal of such a competitor.


7. Technical characteristics,   During the First phase all competitors are offered to file pre-offers for
quality and quantity of the     competitive bidding without naming the price
subject of purchase             The requirements to the object of purchase are enlisted in the Annex 6
                                to the documentation on competitive bidding.
                                The term of filing pre-offers for competitive bidding is at least 30
                                days since the day of making an announcement about the conducting
                                of a two-phased bidding in a state official printing media on state
                                purchasing.
                                Documents approving the correspondence of the competitive bidding
                                proposal with the technical, quantitative, qualitative and other
                                requirements of the Purchaser, are to be filed during the Second phase


8.Description of particular part The Purchaser does not specify separate parts of the objext of
(parts) of the subject of        purchase (the lot)
purchase (lot) to which
competitive bidding proposals
can be submitted


9.     Competitive bidding      A competitor has the right to amend or recall the competitive bidding
proposal amendments or          proposal down before the end of the term of its presentation without
cancelling by participant       loss of its state of competitive bidding proposal securing.

                                Such changes or a statement on calling the competitive bidding
                                proposal off are taking into consideration in case if the Purchaser
                                receives them before the end of the term of competitive bidding
                                proposal presentation.


            IV. Preliminary and final competitive bidding proposals submission and opening
1. Form, location and final      Personally or via mail.
date of competitive bidding
proposal submission.
Submission types of
preliminary and final
competitive bidding proposals
Location of preliminary          3, B. Grinchenka Str., Kyiv-1, 01001, room 148
competitive bidding proposals
submission
final date of preliminary        02.06.11, 12:00 a.m.
competitive bidding proposals
submission (date, time)
location of final competitive 3, B. Grinchenka Str., Kyiv-1, 01001, room 148
bidding proposals submission


                                                                                                      11
final date of final competitive Is set by the Purchaser after the results of the first phase of two-
bidding proposals submission phased bidding (the deadline of final competitive bidding proposals
(date, time)                    presentation is not less than 15 days since the day of informing the
                                competitor about the results of the first phase)
2. Location, date and time of
competitive bidding proposals
opening
location of preliminary         3, B. Grinchenka Str., Kyiv-1, 01001, room 131
competitive bidding proposals
opening
time and location of            02.06.11, 15:00 (3:00 p.m.)
preliminary competitive
bidding proposals opening
time of final competitive       Is set by the Purchaser taking the results of the first phase of two-
bidding proposals opening       phased bidding into account
time and location of final      Is set by the Purchaser taking the results of the First phase of two-
competitive bidding proposals phased bidding into account
opening
    V. Consideration of preliminary competitive bidding proposals, evaluation of final competitive
                     bidding proposals and selection of the most successful bidder
1. Preliminary competitive      The Purchaser has the right to conduct negotiations with any
bidding proposals               competitor during the First phase of preliminary competitive bidding
consideration                   proposals to define advantages and disadvantages in proposals.
                                The Purchaser has no right to use the discriminative regime towards
                                competitors during negotiations.
                                According to results of the negotiation the protocol signed by the
                                Purchaser and a competitor is carried out, consisting of the competitor
                                information, proposals, propositions introduced by a competitor,
                                conclusion.
                                Criteria and methods of valuation provided in the Annex 4.
                                After the receiving of preliminary competitive bidding proposals, the
                                Purchaser has the right either to introduce changes to bidding
                                proposals documentation on technical and quality requirements to the
                                object of the purchase or to present new characteristics and criteria of
                                the valuation according to the Law.
                                The Purchaser informs all the competitors about introduction of
                                changes to the competitive bidding documentary during the invitation
                                to the Second phase of bidding.
                                At the Second phase the Purchaser invites to take part in the bidding
                                those competitors, whose competitive bidding proposals were not
                                rejected at the First phase and the proposals of which are positive in
                                general, but not less than two of competitors.
                                At the Second phase competitors are to provide final competitive
                                bidding proposals with the statement of the price.

2. List of criteria and methods At the Second phase, the Purchaser conducts a valuation of
of its evaluation for deciding competitive bidding proposals, which have passed, in accordance with
the most profitable             the Law.
competitive bidding proposal.
                                The Purchaser conducts a valuation of presented competitive bidding
                                                                                                   12
                               proposals according to criteria and methods introduced in the Annex
                               4.

                               The Purchaser has the right to introduce changes to criteria of
                               valuation after the receiving of preliminary competitive bidding
                               proposals or to introduce new ones for the Stage #2 of the bidding, in
                               accordance with the Law.

                               The Purchaser informs all competitors about the introduction of
                               changes to the documentation during the invitation to the Second
                               phase of the bidding.


3. Arithmetic errors correction The Purchaser has the right to correct mathematical mistakes, made as
                                a result of arithmetic operations found in the given competitive
                                bidding proposal during its valuation in the order defined by the
                                competitive bidding documentation, in case of receiving the written
                                approval of a competitor who presented the proposition for
                                competitive bidding.

                               Errors are corrected by the Purchaser in the following succession:

                               In the case of divergence of sums written in letters or numbers, the
                               sum written in letters is determinative;

                               In case of divergence of item price and total price, received via
                               multiplication item price on the quantity and adding prices for a
                               single item, price for a single item is determinative and a total price is
                               to be corrected. If the Purchaser states that the decimal position is
                               moved due to increasing of total price is evident, in such a case the
                               appointed total price is determinative, and hourly price is to be
                               corrected.
                               If a competitor does not agree with arithmetical errors corrections, his
                               competitive bidding proposal is to be turned down.


4. Declining of competitive    The Purchaser rejects a competitive bidding proposal in following
bidding proposals              cases:

                               a competitive bidding proposal does not meet the terms of
                               competitive bidding documentation

                               a competitor does not meet qualifying criteria, in accordance with the
                               Article 16 of the Law

                               a competitor who submitted a competitive bidding proposal and does
                               not agree with corrections of arithmetic errors detected by the
                               Purchaser

                               the presence of grounds enlisted in the Article 17 and the seventh


                                                                                                    13
                                   chapter of the Article 28 of the Law

                                   The Purchaser has the right to consult the body of state authority,
                                   enterprise, establishment, organizations acting in corresponding field
                                   of competence as for validity of information provided by a
                                   competitor. In case of receiving a reliable information of his
                                   incompetence to qualifying criteria, the grounds enlisted in the Article
                                   17 of the Law, the fact of provision untruthful information of any
                                   kind, which is rather important during the bringing of a decision of a
                                   procedure of purchase, the Purchaser turns a competitive bidding
                                   proposal of such a competitor.
                                   Information about competitive bidding proposal decline is sent to a
                                   competitor with mentioning of reasons within three working days
                                   since of decision coming into legal force and given publicity,
                                   according to the Article 10 of the Law.


5. Cancellation of biddings or     The Purchaser declines the bidding in following cases:
their recognition as those which
did not take place                 The absence of need for further purchase of the object of bidding;

                                   Inability to eliminate violations, detected through state purchase
                                   legislation violation;

                                   The unfolding of the fact of alliance between competitors;

                                   Violation of the procedure of publication of the process of purchase,
                                   acceptance, announcement of results of procedure of purchase legally
                                   provided by the Law;

                                   an insufficient number of competitors in a competitive bidding;

                                   deviation of all of competitive bidding proposals, in accordance with
                                   the Law;
                                   An insufficient number of proposals during the stage of valuation.

                                   The Purchaser has the right to recognize the bidding as such that did
                                   not take place in following cases:
                                   Cost of the most profitable proposal exceeds the sum expected by the
                                   Purchaser of purchase financing;
                                   The realization of the purchase becomes impossible as a result of a
                                   force majeure.

                                   Notification on the bidding decline or recognizing it as such that did
                                   not occur, is sent to Authorized Body and all of Competitors by the
                                   Purchaser within three working days since the date of adoption of a
                                   corresponding decision and opening of it, in accordance with the
                                   Article 10 of the Law.




                                                                                                        14
6. Refusal to participate in the   The customer decides to refuse to participant, to participant of
procurement procedure              pre-qualification to participate in the procurement procedure, pre-
                                   qualification of participants and shall reject the proposal of
                                   competitive bidding (qualification, quotation offer) of the
                                   participant (participant of pre-qualification), if:


                                   1) he has an irrefutable evidence that the participant or participant
                                   of pre-qualification offers, gives or agrees to give, directly or
                                   indirectly, to any official of the customer, another state agency
                                   compensation in any form (offer of employment, a valuable thing,
                                   service etc.) to influence on taking a decision regarding the winner
                                   of procurement procedure or use of specific procurement
                                   procedure by the customer;


                                   2) the participant or the participant pre-qualification was brought
                                   under the law to liability for a public procurement corruption
                                   offenses;


                                   3) revealed the involvement of the participant or a participant of
                                   pre-qualification in the conspiracy;


                                   4) an individual who is a participant or participant pre-
                                   qualification, was convicted of offenses related to breaking the
                                   procurement procedure, or any other crime committed with
                                   mercenary motives, of which no conviction is cleared or canceled
                                   in the manner prescribed by law;


                                   5) an official of participant or participant of pre-qualification,
                                   which is authorized by the participant or participant of pre-
                                   qualification to represent his interests during the procurement
                                   procedure has been convicted of a crime involving a violation of
                                   procurement procedure, or other crime committed with mercenary
                                   motives , from which a conviction is not cleared or canceled in the
                                   manner prescribed by law;


                                   6) an offer of competitive bidding (qualifying, quotation offer)
                                   submitted by the participant of the tender which is a related entity
                                   from the other participants of the procurement procedure;


                                   7) documents confirming the legality of signing of the purchase
                                   agreement are not provided by the participant or participant of
                                   pre-qualification;


                                   8) participant or participant of pre-qualification is recognized as a

                                                                                                   15
                                   bankrupt in the manner prescribed by law and liquidation
                                   procedure is opened regarding him.


                                   The customer may decide to refuse, participants pre-qualification
                                   to participate in the procurement procedure, pre-qualification of
                                   participants and may reject the proposal of competitive bidding
                                   (qualification, quotation) of the participant (participant pre-
                                   qualification), if:


                                   1) participant or participant prequalification is in arrears of taxes
                                   and duties (mandatory payments);
                                   2) participant or participant prequalification is conducting
                                   business activities in accordance with the provisions of its
                                   charter.
                                   Information about the rejection of the proposal of competitive
                                   bidding, indicating the reason sent to party whose motion is
                                   rejected, within three working days from the day the customer and
                                   the decision is published pursuant to Article 10 hereof.

7. Acceptance                     The customer accepts the offer of competitive bidding as the most
of offer competitive bidding      economically advantageous in the evaluation results at the day of
                                  the winner identification.
8. Confidentiality compliance     Customer throughout the process of procurement ensures the
procedure                         privacy of information supplied by participants (participants
                                  prequalification). Information on the Review and Evaluation of
                                  competitive bidding is restricted to the Commissioner authorities,
                                  carrying out state regulation and control in procurement, appeal
                                  body and the court.
9. Other information              Price proposals should take into account all taxes and charges paid
                                  or payable for services and goods offered by a participant.
10. Final Provisions              The absence of any questions or clarifications regarding the
                                  content and presentation of the documentation requirements of the
                                  competitive bidding procurement participants who received these
                                  documents in the prescribed manner to mean that participants of
                                  the procurement procedure involved in these trades are fully
                                  aware of the contents of this documentation competitive
                                  bidding and requirements specified by the customer in the
                                  preparation of this purchase.
                                  In the case of participants in the procurement issues not covered in
                                  this manual and other components of competitive bidding
                                  documentation, competitive bidding committee during their
                                  practical discussion with participants in the procurement
                                  procedure and the decision is guided by the Law and other
                                  applicable regulations of Ukraine.
                                  According to the requirements of Article 14 of the Act during the
                                  procurement side are entitled to transfer any information on
                                  bidding by fax followed by confirmation in writing.
                            VI. Conclusion of the procurement agreement


                                                                                                   16
1. Terms of the agreement          The customer enters into a procurement agreement with the
                                   participant, competitive bidding proposal of which was accepted,
                                   not later than 30 days from the date of acceptance of proposals in
                                   accordance with the requirements of competitive bidding
                                   documents and accepted proposal.


                                    In order to ensure the right to appeal decisions of the customer
                                    procurement agreement can not be entered earlier than 14 days
                                    from the date of publication in the public official printed
                                    publication of public procurement notice of acceptance of offer
                                    competitive bidding.
2.Essential conditions that must be Essential conditions of the agreement under Art. 40, 41 of the Law
included in the purchase            of Ukraine "On public procurement", of the clause of the Civil,
agreement                           Commercial and Budget Code of Ukraine, Resolution of the
                                    Cabinet of Ministers of Ukraine № 869 of 12.08.2009 “On
                                    approval of the general requirements to software purchased or
                                    developed by request of the state authorities”.

                                   ESSENTIAL CONDITIONS of the agreement:

                                   Terms of purchase agreement should not differ from the content
                                   of tan offer of competitive bidding of the winner of the
                                   procurement procedure and must not be changed after signing the
                                   purchase agreement for the full implementation of commitments
                                   by the parties, except the decrease in purchases depending on the
                                   actual financing costs and concerted by the parties decrease
                                   agreed agreement price of the agreement purchase. In this case the
                                   parties shall amend the agreement by entering into additional
                                   agreement.

                                   The Executor sends to the Customer the source of all software
                                   modules developed by the Performer within the services under
                                   this Agreement.
                                   Exclusive property rights to the software that is the subject of the
                                   agreement are transferred from the Executor to the Customer.
                                   The Customer has an exclusive right to permit the use of the
                                   software, the Customer has right to use the software at his
                                   discretion.
                                    The use of the software by the different person can be realized
                                   with the permission of the Customer, except the cases of the
                                   lawful use without permission, that are foreseen by the Civil Code
                                   of Ukraine and another law.

                                   Software that is subject to the agreement must be completed, as
                                   evidenced by relevant documents (patent, certificate, license,
                                   certificate of acceptance, etc.) in accordance with the legislation
                                   of Ukraine.

                                   Executor agrees during the service, which is the subject of
                                   purchase, implement mandatory elements of the work according
                                   to existing state standards and in accordance with the approved by

                                                                                                   17
                                    the Cabinet of Ministers of Ukraine from February 4, 1998 N 121
                                    of the amended list, namely:
                                    - Development of technical requirements for developing or
                                    updating of information;
                                    - Development of technical and business project or technical
                                    working project or upgrading of information.;
                                    - Conducting training for the operation of information;
                                    - Commissioning works;
                                    - Tests designed or upgraded facilities information;
                                    - Introduction of information in operation;
                                    - Works on the maintenance of information under warranty
                                    (technical support of the software).
                                    The Executor agrees to render technical support of the software
                                    during at least three years (according to additional agreement).
                                    Payment is made in stages according to the customer with the
                                    calendar plan of services that are an integral part of the agreement
                                    on the basis of acts of acceptance and transfer services provided
                                    by the Executor and Ukrainian legislation in force.
                                    Each phase of the work schedule for an act, receiving and
                                    transmitting working document prepared in accordance with the
                                    applicable standards and act works.
                                    Terms and conditions may be changed by agreement by entering
                                    into a supplementary agreement.
                                    In case of failure or improper performance of obligations under
                                    the Agreement Parties are responsible in accordance with
                                    legislation of Ukraine.
                                    For violation of the terms of service the customer pays a fine
                                    singer in the amount of a discount rate of National Bank of
                                    Ukraine, which operated during the period for which the penalty is
                                    calculated, from the cost of non-rendering services for each day
                                    of delay.
                                    In case of delayed payments due to customers under the contract,
                                    the Customer shall pay to the fine in the amount of a discount rate
                                    of National Bank of Ukraine, which operated during the period for
                                    which there are fine, of the unpaid amount for each day of
                                    delinquency.
                                    *The rights and liabilities of the Parties on the Procurement
                                    Agreement come into effect upon the approval of the proposal to
                                    the tasks of the National informatization program for 2011 - 2013
                                    regarding development and implementation of the Complex
                                    information system of the State Commission for Regulation of
                                    Financial Services Markets in Ukraine by the General state
                                    customer of the National informatization program and approval of
                                    the Customer - the state customer with respect to the task
                                    regarding development of the Complex information system of the
                                    State Commission for Regulation of Financial Services Markets in
                                    Ukraine by the Cabinet of Ministers of Ukraine.
                                    *(Comment: the condition does not have a place in case the
                                    parties at the date of the Procurement Agreement conclusion have
                                    a knowledge of the realized suspensive condition.
3. Actions of the customer if the   In a written refusal of the awardee to sign the procurement
awardee is failure to sign the      agreement n accordance with the requirements of competitive

                                                                                                  18
procurement agreement             bidding documents or non-entering into the purchase agreement
                                  due to the fault of the participant in terms, defined
                                  by this Law, the customer re-determine the
                                  most economically advantageous offer of the
                                  competitive bidding of those whose validity has not expired .
4. Ensure the implementation of   Is not required.
the procurement contract




                                                                                             19
                                                                                  ANNEX 1
                                                        Documentation of competitive bidding

This form of “Competitive bidding proposal” is entered at the first stage of bidding in the form
below, on the letterhead of the participant.
Participant shall not deviate from this form.


                    PROPOSAL FORM OF COMPETITIVE BIDDING


                            to participate in two-stage bidding
                          Software development services package
     (Services to develop and implement an integrated information system of the State
           Commission for Regulation of Financial Services Markets of Ukraine

Full name of participant _________________________________________________________
  Legal address _____________________________________________________________
 Postal address ______________________________________________________________
USREOU code________________________________________________________________
   Account details __________________________________________________________
          Full name of the head or representatives according to the power of attorney
                             ______________________________
   Tel._____________________________________________________________________

        Fully read and agreed to the terms of two-stage tendering and competitive bidding
documents, provide the first stage concerning the participation in two-stage bidding for the
purchase of the subject: "Development of packaged software services (Services on developing
and implementation an integrated information system of the State Commission for
regulation of financial services markets of Ukraine. "If our proposal of the first stage is
accepted, we shall assume the obligation to prepare and give you a second stage proposal and
make the necessary tender guarantee of the conditions specified in Section III, paragraph 3 of
documentation competitive bidding documentation. We agree to comply with the conditions of
the previous proposal within 90 calendar days after the disclosure of the previous proposals of
competitive bidding, regulated by the customer. We agree with the conditions that you may
reject our one or all proposals in accordance with the terms of competitive bidding, and
understand that you are not restricted in making any deals with more profitable for you terms.

Position
                                     ______________________ / last name and initials /
                                           LS    signature
       “ ”              2011




                                                                                               20
                                                                                    ANNEX 2
                                                          Documentation of competitive bidding

This form of “Competitive bidding proposal” is entered at the second stage of bidding in the
form below, on the letterhead of the participant.
Participant shall not deviate from this form.
Attached to this form the participant must provide a calculation of estimated cost according to
the bid price and rendering of service schedule, which offers a participant as a part of its offer.

PROPOSAL FORM OF COMPETITIVE BIDDING

to participate in two-stage bidding
Software development services package
(Services to develop and implement an integrated information system of the State
Commission for Regulation of Financial Services Markets of Ukraine

Full name of participant _________________________________________________________
Legal address _____________________________________________________________
Postal address ______________________________________________________________
USREOU code________________________________________________________________
Account details __________________________________________________________
Full name of the head or representatives according to the power of attorney
______________________________
Tel._____________________________________________________________________

            Fully read and agreed to the terms of two-stage tendering and competitive bidding
    documents, provide our offer concerning the participation in bidding for the purchase of the
           subject: “Development of packaged software services (Services on developing and
  implementation an integrated information system of the State Commission for regulation
                        of financial services markets of Ukraine” with the following prices:

                  _______________________________________________________________
                                                     (Indicate with numbers and words)

       1. By accepting our offer of competitive bidding, your competitive bidding documentation
      together with our offer (subject to its compliance with all requirements) has the force of the
   previous agreement between us. If our proposal is accepted, we shall assume the obligation to
                                                   fulfill all conditions stipulated in the Agreement.
                 2. We agree to abide the terms of the proposal within 90 days after the opening of
      competitive bidding offers, specified by you. Our proposal will be binding to us and can be
                                    accepted by you at any time prior to the expiration of the term.
       3. We agree with the conditions that you may reject our one or all proposals in accordance
       with the terms of competitive bidding, and understand that you are not restricted in making
                                                       any deals with more profitable for you terms.
       4. If our proposal is accepted, we bind ourselves to sign a procurement agreement within a
   period not earlier than 14 days from the date of publication in the public informational printed
publication of public procurement notice of acceptance of offer competitive bidding, but not later
                                                               than 30 calendar days after acceptance.
                                               Annex: Calculation of the estimated cost of services.
          Calculation of the estimated cost is provided in tabular form with indicating the value of
  all of the costs, including costs of services of participant and organizations-party accomplices.


                                                                                                   21
                                       Position
______________________ / last name and initials /
                                   LS signature
                      “__ ” ________ 2011




                                               22
                                                               ANNEX 3
                                     Documentation of competitive bidding
QUALIFYING CRITERIA FOR PARTICIPANTS AND REQUIREMENTS, SPECIFIED
BY THE CUSTOMER IN ACCORDANCE WITH ARTICLE 16, 17 OF THE LAW AND
INFORMATION ABOUT THE WAY OF DOCUMENTARY PROOF OF
ACCORDANCE OF PARTICIPANTS TO THE SPECIFIED CRITERIA AND
REQUIREMENTS IN ACCORDANCE WITH LEGISLATION

     Qualifying criteria and                                The list of the
  requirements specified by the             documents and information necessary for
  customer in accordance with             the estimation of accordance of participant to
      Articles 16, 17 Law                established criteria and requirements under the
                                                               legislation
1. Availability of equipment and 1.1. The reference, compiled by the participant in an
physical infrastructure.             arbitrary manner as for the availability of equipment and
                                     physical infrastructure. The reference is authorized by
                                     the signature of participant and seal of the participant.
Availability of the staff of         2.1. The reference from the Participant, signed by the
appropriate qualification, which has authorized person and the seal of the Participant,
all necessary skills and experience. regarding the availability of the staff of appropriate
                                     qualification, which has all necessary skills and
                                     experience
                                     The information , which the Participant will provide
                                     must indicate the following:
                                     availability of the required number of employees of
                                     appropriate qualification, enough for timely and quality
                                     rendering of services in accordance with requirements
                                     of competitive bidding documents;
                                     availability of at least one employee who has the
                                     certificate of Microsoft Certified Professional, or
                                     another that confirms the qualification on the
                                     development and setting up of the software and
                                     hardware according to the Microsoft software
                                     requirements, which is used by the Participant;
                                     provide a certified copy of certificate;
                                     availability of at least one employee who has a
                                     certificate of Oracle Certified Professional;
                                     or another that confirms the qualification on the
                                     development and setting up of the software and
                                     hardware according to the Oracle software requirements,
                                     which is used by the Participant;
                                      provide a certified copy of certificate;
                                     availability of the State party License Service for
                                     Special Communications and Information Protection of
                                     Ukraine to the following economic activities: the
                                     development, manufacture, use, maintenance,
                                     certification testing, case studies, examination, import,
                                     export of cryptographic and encryption services in the
                                     field encryption (except the digital signature),
                                     government agencies, and means of cryptographic
                                     protection. The license must be valid on the date of bid

                                                                                            23
     Qualifying criteria and                                    The list of the
  requirements specified by the                documents and information necessary for
  customer in accordance with                the estimation of accordance of participant to
      Articles 16, 17 Law                  established criteria and requirements under the
                                                                 legislation
                                        opening competitive bidding. Provide a certified copy of
                                        the license.
Availability of documentary             3.1. Details of similar contracts execution as for the
confirmed experience of execution       purchase, which should confirm the presence of a
of the similar agreements.              participant in implementing similar agreements on the
                                        subject of procurement.
                                        The participant must provide an information on the
                                        experience of execution of the contracts in accordance
                                        to each of the following areas:
                                        Creation, implementation and support of integrated
                                        informational systems for state institutions in Ukraine
                                        (with the total number of users not less than 2000), the
                                        term "integrated information system" means software
                                        and hardware complex, which provides automation of
                                        major technological processes of the customer, data
                                        integration of individual subsystems, supplying the
                                        operation of individual subsystems within a single
                                        software and hardware environment, migration of the
                                        data from existing systems to the new (complex)
                                        systems;
                                        Creating an informational systems for customers from
                                        the management of public finances (money) or
                                        regulation of financial services markets of Ukraine;
                                        Creating personified systems of accounting;
                                        Creating a system of maintaining registers of businesses
                                        and individuals the state level;
                                        Creating information systems in architecture that is
                                        required by the customer (DBMS Oracle, centralized
                                        system with a web-interface);
                                        Implementation of works with creating a comprehensive
                                        information security systems.
                                        Information about the execution of the similar contracts
                                        participant provides in tabular formed in Annex 5.
4. Availability of financial capacity   4.1. Copies of balance sheet (first quarter 2011), report
(balance sheet, income statement,       on financial results (first quarter 2011), statement of
statement of cash flow information      cash flows for 2010 (if necessary, according to the
from the bank of absence (presence)     legislation, with a note on their receipt by Department of
of credit indebtedness.                 Statistics at the location of party) ( copy of the statement
                                        of cash flows provided if available). Inquiries / a
                                        (original / s) or copy / 4.2 The reference(s) (original/s)/
                                        or copies of the reference/references notarized, until two
                                        weeks pass in relation to the date of disclosure of the
                                        competitive bidding proposal, given by               banking
                                        institutions, which are serve to the participant, on the
                                        current account and the absence of arrears of interest
                                        payable on loans.
5. The Participant has not been         5.1. Information compiled by the participant in any

                                                                                                  24
     Qualifying criteria and                                  The list of the
  requirements specified by the               documents and information necessary for
  customer in accordance with               the estimation of accordance of participant to
      Articles 16, 17 Law                 established criteria and requirements under the
                                                                legislation
called to account in accordance with form, about the participant has not been called to
the law to liability for a public account in accordance with the law to liability for a
procurement corruption offense.        public procurement corruption offense.
6. An individual who is a participant 6.1. The reference compiled by the participant in any
was not convicted of a crime           form, that an individual who is a participant was not
involving a violation of procurement convicted of a crime involving a violation of
procedure, or other crime committed procurement procedure, or other crime committed with
with mercenary motives, of which       mercenary motives, of which no convictions cleared or
no convictions cleared or canceled in canceled in accordance with the law.
accordance with the law.
7. Official of the participant, which 7.1. An information in any form about officials of the
is authorized by the participant to participant, which is authorized by the participant to
represent      him       during    the represent him during the procurement procedure.
procurement procedure has not been 7.2. The reference compiled by the participant in any
convicted of a crime involving a form, that the officials of the participant, which is
violation of procurement procedure, authorized by the participant to represent him during the
or other crime committed with procurement procedure in accordance with information
mercenary motives, from which a in paragraph 7.1 of this annex has not been convicted of
conviction is not removed or a crime involving a violation of procurement procedure,
canceled in accordance with the or other crime committed with mercenary motives, from
law.                                   which a conviction is not removed or canceled in
                                       accordance with the law.
8. Confirmation of eligibility to the 8.1. Notarized copy, or the original document which
entering the purchase agreement.       confirms the status and authority of the person to sign
                                       the agreement on results of the bidding (an extract of the
                                       minutes of the founders of the appointment of the
                                       director, president, chairman, the party power of
                                       attorney of the head in case of signing the purchase
                                       agreement by a person whose authorities are not defined
                                       by the statute or otherwise).
9. Participant is not recognized       9.1. The reference of the Department of bankruptcy or
legally as a bankrupt and there is no regional office or other authorized body of that the
open liquidation procedure             Participant is not recognized legally as a bankrupt and
relatively                             there     is     no     open      liquidation     procedure
                                       relatively, until two weeks pass regarding the
                                       uncovering date of competitive bidding proposals.
10. The participant must not have      10.1. The original of the reference of State Tax
debts for taxes and duties             Inspection about the absence of debts on paying the
(mandatory payments).                  mandatory taxes and charges in Ukraine, valid on the
                                       date of uncovering date of competitive bidding
                                       proposals.
11. Participant must conduct           11.1. A copy of the Charter, certified by the participant;
business in accordance with the        11.2. Certificate of registration of the business entity to
provisions of its charter.             the roster of producers and distributors of software;
                                       11.4. The documentary confirmation of availability of
                                       sufficient for the execution of the purchase agreement
                                       amount of intellectual property rights (copies of

                                                                                                25
     Qualifying criteria and                                   The list of the
  requirements specified by the               documents and information necessary for
  customer in accordance with              the estimation of accordance of participant to
      Articles 16, 17 Law                 established criteria and requirements under the
                                                                legislation
                                       copyright registration, transfer of intellectual property
                                       rights, etc.) or other authorities (copy of partnership,
                                       dealer agreements, letters, etc.) concerning software
                                       rights for the use of which will be transferred by
                                       Participant in accordance with the Purchase Agreement.


     *Note:
     All the documents (except originals )issued by the other institutions are to be certified in
accordance with Section III paragraph 1 of documentation of competitive bidding.




                                                                                               26
                                                                                     ANNEX 4
                                                           Documentation of competitive bidding



      CRITERIA AND METHODOLOGY OF EVALUATION OF COMPETITIVE
                        BIDDING PROPOSALS

                                     The first stage of bidding


        Evaluation of competitive bidding proposals at the first stage is based on the fallowing
criteria.


     Qualifying criteria


    The participant must meet all the qualification requirements, specified in this
documentation of competitive bidding (Section III, p.2, 6, Annex 3, Annex 5) and submit all
documents required to prove the relevant facts.


       Discrepancy between any of the qualification requirements leads to rejection of the
participant’s proposal.


     Technical criteria


     Customer will conduct a detailed evaluation of all proposals which were not rejected during
evaluation on qualification criteria to determine whether the technical aspects of proposals are
relevant to requirements, specified by competitive bidding documentation. For such definition,
customer will study an information provided to participants, taking into account the following
factors:


• overall completeness and compliance with technical requirements, as well as deviations from
the technical requirements;


• whether the proposal is technically proved;


• suitability of the proposed technical solution, despite the conditions that are specific to the
object;


• suitability of the proposed implementation services and other services as described in the
technical requirements (Annex 6);


• whether the solution is optimal, or constitutes an inefficient approach;
• accordance of the proposal with the current regulations;


• accordance with the terms of service rendering schedule, specified by the calendar plan, which
                                                                                                    27
is a part to the Technical Requirements (Annex 6); participant within its proposal should provide
their own schedule, under which it agrees to provide services to the customer in terms not later
than specified in Annex 6;


• any other relevant technical factors that the employer considers necessary or reasonable to
consider;


• any existing variations in participant’s proposals from contractual or technical provisions ,
specified in the documentation of competitive bidding;


• risks of the customer on each proposal;


• availability of current prototype of software in accordance with requirements in Annex 7.


      To demonstrate accordance of its offer, the participant must include to its proposal the
Table of technical compliance. The absence of such a table would lead to recognition of the
participant’s proposals so that does not meet the technical requirements of competitive bidding
documents.


      Among the other things, the checklist must contain clear cross references to relevant pages
of the technical proposals of the participant.


Table of technical compliance:
№ c/o      Technical requirement                                    Reference to    the number of
                                                                    the point         (s) of the
                                                                    participant’s   proposal, that
                                                                    is confirm       the technical
                                                                    requirements


1.         Development and adoption of technical assignment
           CIS State Commission
2.         Development and implementation of the core CIS
           State Commission
3.         Development and implementation of the subsystem
           of administration of permissions, auditing and
           monitoring system
4.         Development and implementation of use of digital
           signature mechanism
5.         Development of the module of data downloads
           provided by the State Commission on Securities
           and Stock Market of Ukraine to develop and
           implement an integrated system of information
           sharing between agencies responsible for state
           supervision and control in private pensions.
                                                                                                  28
6.    Development and implementation of the subsystem
      of licensing of financial institutions, accounting
      cancellation, renewal, revocation, suspension,
      restriction and re-licensing
7.    Development and implementation of the subsystem
      of planning, implementation and control of
      inspection activities of institutions that are under
      surveillance.
8.    Development and implementation of a subsystem of
      entry and accounting activities in the temporary
      administration offices at institutions that are under
      surveillance.


9.    Development and implementation of a subsystem of
      formation, receiving, storage and processing of
      accounting data at institutions that are under
      surveillance, using digital signatures for
      administrators of pension funds and pension funds,
      insurance companies, credit unions and pawnshops
10.   Develop and implement analytical processing
      subsystem of accounting data of institutions that are
      under surveillance - for administrators of pension
      funds and pension funds, insurance companies,
      credit unions and pawnshops
11.   Architecture of the system - centralized system
      based on Oracle DBMS using a platform. Net;
      Web-interface, user’s experience
12.   Setting up 1 server for the trial operation of the
      software
13.   Testing    software     (with       the    Customer)


14.   Implementation of the software in trial operation
15    Introduction of the      software     in   commercial
      operation
16.   Requirements to documentation

17.   Time schedule
18.   The presence of the current prototype of the
      software examples of the accountability of pension
      funds




                                                              29
                       Each requirement from the Technical tables is necessary.


                                              Second stage


Customer at the second stage of bidding evaluates proposals of competitive bidding of those
who:


• was not been rejected under the law;


• meet all the requirements of competitive bidding documents (including changes that may be
made to it after a previous offers competitive bidding).


Evaluation is carried out according to the following method:


The maximum possible score is 100.


Evaluation of competitive bidding proposals is based on the criteria:


1. "The Price" (the share 70 points);


2. "The prototype of the software" (in accordance with Annex 7) (the share 30 points).


     Methods for evaluation criterion "Price"
     The maximum score on the criterion "Price" - 70 points.
      Scores for the criterion "Price" is defined as follows. Competitive bidding proposals, value
of criteria "Price" which is most advantageous (lowest), is given the maximum possible score (70
points).


Points for the other competitive bidding proposals are determined by the formula:

                                  B1calc= ( P1min / P1calc ) * 70, whereof

B1calc – calculated amount of points;


P1min - the lowest value for the criterion "Price (in UAH.)


P1calc - the current criterion of competitive bidding proposal for a score is calculated (in UAH.)
70 - highest possible score on the criterion "Price".


     Methods of evaluation on criterion “Software prototype”:

                                                                                                     30
      Scores for the criterion " Software prototype (B2calc) is defined as the sum of points
collected by participant proposal evaluation following table:



 № c/o                       The requirement for a prototype                          Point that
                                                                                     provided to a
                                                                                     proposal for
                                                                                      meeting the
                                                                                     requirement


   1.      The implementation mode of the form NPF2 of accountability of                       3
           pension funds in accordance with Provisions of State Commission
           № 1100 as of 22.06.2004 on submission of administrators of non-
           government pension fund accounts of non-government pensions
           provision, using a web interface
   2.      The implementation mode of the form NPF7 of accountability of                       3
           pension funds under provisions of State Commission № 1100 as of
           22.06.2004 on submission of administrators of non-government
           pension fund accounts of non-government pensions provision,
           using a web interface
   3.      Implementation of self filling of the report cells NPF2                             2
   4.      Implementation of self filling of the report cells NPF7                             2
   5.      Implementation of the cross controls reporting forms fulfilling                     2
           NPF2 and NPF7
   6.      Implementation of forming         and review of control protocols                   2
           reporting forms fulfilling
   7.      Implementation of the regime for the formation of a pattern of                      4
           adaptive statements tabular form according to the CIS State
           Commission data
   8.      Implementation of determining conditions for selecting data of                      2
           Template
   9.      Implementation reporting regime by Template                                         4
   10.     A mechanism modified tabular reports - the definition graph report,                 4
           grouping, sorting
   11.     Availability of easy user friendly interface                                        2
TOTAL                                                                               0 to 30 points


       Note: for accordance with some requirement of prototype table above, the participant’s
proposal receives points, specified in the corresponding row of the table in the event of default
on the proposal to the relevant requirement receives zero points.

      Evaluation is a subject to software prototype of integrated informational system of the
State Commission of Regulation of Financial Services Markets of Ukraine, submitted by
                                                                                                    31
participants at the first stage of bidding requirements under Section III, Paragraph 2 of Annex 7
and documentation of competitive bidding. Customer may request re-demonstration model at the
second stage of bidding.

      Calculating the total number of points for all criteria:

     The total score for all criteria for each proposal is calculated by the formula:

                                                 B1calc + B2calc

(Scores on the criterion "Price" +
scores on the criterion "software prototype”.)

All proposals are evaluated according to evaluation criteria, arranged as reducing Score.

The Participant, which offers the highest score on all criteria and formalized by the decision of
the Committee on competitive bidding, is elected as an Awardee,




                                                                                                    32
                                                                                      ANNEX 5
                                                         Documentation of competitive tender
                                       INFORMATION
                   on execution of similar agreements on purchase article
The information is provided under the requirements of par. 3 of the Appendix 3.
                                   List of similar agreements
Posi    Customer name, service was
tion provided for, place of location,           Service          Year(s)       Contact person,
No.            phone number                                    of contract      phone number


                  Information on development, implementation and support of
              integrated information systems for government agencies in Ukraine
                         (with total number of users not less than 2000)

Posi     Customer name,          Name of integrated        Number of           Total number of
tion   service was provided      information system       system users        central, regional,
No.    for, place of location,                                                 district and city
          phone number                                                       divisions for each of
                                                                            the customers, where
                                                                           there is introduced the
                                                                                    system



                      Information on development of information systems
                      for customers of public finance (funds) management
                          or regulation of financial services of Ukraine

Posi      Customer name, service was                      Name of information system
tion     provided for, place of location,
No.             phone number



                         System of personified registration development

Posi      Customer name, service was                      Name of information system
tion     provided for, place of location,
No.             phone number



                           Information on development of systems of
                   legal entities and individuals registration on national level

Posi      Customer name, service was                      Name of information system
tion     provided for, place of location,
No.             phone number




                                                                                               33
   Information on development of information systems in architecture, required by customer
                   (DBMS Oracle, centralized system with web-interface)

Posi      Customer name, service was                  Name of information system
tion     provided for, place of location,
No.             phone number



                     Information on development of information systems
               of government or non-government pension insurance in Ukraine

Posi      Customer name, service was                  Name of information system
tion     provided for, place of location,
No.             phone number



           Information on works to develop integrated information security systems

Posi      Customer name, service was                  Name of information system
tion     provided for, place of location,
No.             phone number




Position and name of authorized person
                                                                                     Signature
       SEAL




                                                                                             34
                                                                                   ANNEX 6
                                                          Documentation of competitive tender


                                 Technical requirements
                                   for the provision of
      services to develop and implement the complex information system of the State
           Commission for Regulation of Financial Services Markets of Ukraine

   1. General provisions
     This document contains major decisions on the development of requirements to develop
and implement a complex information system of the State Commission for Regulation of
Financial Services Markets of Ukraine.


   2. Purpose and aim of the system
     The main purpose of developing the complex information system (The translator’s
comment: hereinafter the complex information system is the CIS) of the State Commission for
Regulation of Financial Services Markets of Ukraine (The translator’s comment: hereinafter the
State Commission for Regulation of Financial Services Markets of Ukraine is the State
Commission) is to provide information and analytical support to the preparation, adoption and
monitoring of managerial decisions in financial services, implementation of regulatory and
supervisory functions over the activities of financial services, counteracting the legalization
(laundering) of proceeds from crime, based on the formation and usage of common information
space, information resources and modern technology, application of modern automated
monitoring and management, decision support and electronic document management.
      The CIS of the State Commission should ensure efficiency, accuracy, transparency
(privacy) of information in the State Commission, as well as help achieve a new level of decision
making in the regulation of financial services markets of Ukraine.
      The main idea of the CIS of the State Commission is to automate business processes,
documents circulation and management activities of official officers and experts of the State
Commission, as well as to improve productivity and efficiency of preparing and making
qualitative and reasonable decisions by them, e.g.
 prompt provision of reliable information and materials which contain reference, analytical,
  forecasting, recommendation and other information;
 reports which contain the latest information received from regulated entities, public
  authorities, mass media or other sources;
 analysis and prediction of various sections and aspects of financial services, which results are
  submitted to the officials of the State Commission and on their behalf to heads of other
  departments;
 development and implementation of strategies of financial services development, as well as
  generalizations and suggestions on these issues;
 improving and streamlining of administrative and business processes, enhancing
  accountability and responsibility for the decisions made.
     To develop the CIS of the State Commission is to ensure decision-making quality in the
sphere of activity and development of financial services in Ukraine based on integrated
processing of operational, analytical, reference, expert and statistical data from various sources,

                                                                                                35
compatibility of information by use of common principles of database structure, common
standards and classifiers.


   3. Compliance with the legal framework
    The CIS of the State Commission should be established on the basis of the following
documents:
   1. Law of Ukraine “On financial services and state regulation of financial services” No.
      2664-IІІ d.d. July 12, 2001;
   2. Law of Ukraine “On insurance” No. 85/96-VR d.d. March 07, 1996;
   3. Law of Ukraine “On mandatory state pension insurance” No. 1058-ІV d.d. July 09, 2003;
   4. Law of Ukraine “On prevention and counteraction to legalization (laundering) of
      proceeds from crime” No. 249-IV d.d. November 28, 2002;
   5. Law of Ukraine “On electronic digital signature” No. 852-IV d.d. May 22, 2003;
   6. Law of Ukraine “On electronic documents and electronic documents circulation” No.
      851-IV d.d. May 22, 2003;
   7. Law of Ukraine “On the National information programme” No. 74/98-VR d.d. February
      04, 1998;
   8. Law of Ukraine “On financial leasing” No. 723/97-VR d.d. December 16, 1997;
   9. Law of Ukraine “On financial and credit mechanisms and property management in
      housing construction and real estate operations” No. 978-ІV d.d. June 19, 2003;
   10. Law of Ukraine “On credit unions” No. 2908-IІІ d.d. December 20, 2001;
   11. Decree of President of Ukraine “On the State Commission for Regulation of Financial
       Services Markets of Ukraine” No. 1153/2002 d.d. December 11, 2002;
   12. Decree of President of Ukraine “On measures to develop counteracting system of
       legalization (laundering) of proceeds from crime, and terrorist financing” No. 740/2003
       d.d. July 22, 2003;
   13. Decree of President of Ukraine “On additional measures to counteract to laundering of
       proceeds from crime” No. 532/2001 d.d. July 19, 2001;
   14. Decree of President of Ukraine “On improvement of information and analysis provision
       of the President of Ukraine and public authorities” No. 887/2000 d.d. July 14, 2000;
   15. Convention on laundering, search, seizure and confiscation of the proceeds from crime,
       Strasbourg, November 08, 1990 (the Convention, statements and reservations are ratified
       by the Law No. 738/97-VR (738/97-vr) d.d. December 17.12.1997);
   16. Decree of Cabinet of Ministers of Ukraine “On approval of the State Commission for
       Regulation of Financial Services Markets of Ukraine” No. 157 d.d. February 03, 2010;
   17. Decree of Cabinet of Ministers of Ukraine “On approval of the Programme of
       development of the insurance market in Ukraine for 2001 – 2004” No. 98 d.d. February
       02, 2001;
   18. Decree of Cabinet of Ministers of Ukraine “On the definition of criteria for classification
       of suspicious and unusual financial transactions” No. 700 d.d. May 29, 2002;
   19. Decree of Cabinet of Ministers of Ukraine “On approval of the Programme of
       counteracting to legalization (laundering) of proceeds from crime for 2003” No. 140 d.d.
       January 29, 2003;
                                                                                               36
20. Decree of Cabinet of Ministers of Ukraine “On approval of registration procedure of
    financial transactions by entities of initial financial monitoring” No. 644 d.d. April 26,
    2003;
21. Decree of Cabinet of Ministers of Ukraine “On determination procedure of countries
    (territories) that do not participate in international cooperation in counteracting to
    legalization (laundering) of proceeds from crime, and terrorist financing” No. 645 d.d.
    April 26, 2003;
22. Decree of Cabinet of Ministers of Ukraine “On procedure of publication of information
    on the activities of public authorities in the Internet” No. 3 d.d. January 04, 2002;
23. Decree of Cabinet of Ministers of Ukraine “On approval of list of mandatory working
    stages in design, implementation and operation of systems and processing of automatic
    data processing and transmission” No. 121 d.d. February 04, 1998;
24. Resolution of the State Commission for Regulation of Financial Services Markets of
    Ukraine “On approval of the General provision of the territorial department of the State
    Commission for Regulation of Financial Services Markets of Ukraine” No. 9 d.d. July 24,
    2003;
25. Resolution of the State Commission for Regulation of Financial Services Markets of
    Ukraine “On approval of the Regulations on conducting financial monitoring by financial
    institutions” No. 25 d.d. August 05, 2003;
26. Resolution of the State Commission for Regulation of Financial Services “On approval of
    Procedure for conducting inspections on prevention and counteraction to legalization
    (laundering) of proceeds from crime” No. 26 d.d. August 05, 2003;
27. Order of the State Financial Monitoring Department “On approval of requirements to
    organization of financial monitoring by entities of initial financial monitoring in
    prevention and counteraction to the legalization of proceeds from crime, and terrorist
    financing” No. 40 d.d. April 24, 2003;
28. Order of the State Financial Monitoring Department “On approval of requirements to
    employee qualification of entity of initial financial monitoring, responsible for financial
    monitoring in prevention and counteraction to the legalization of proceeds from crime,
    and terrorist financing” No. 46 d.d. May 12, 2003;
29. Order of the State Financial Monitoring Department “On approval of certain forms
    related to financial monitoring, instructions how to fill them and reference book of
    codes” No. 48 d.d. May 13, 2003.

30. GOST (GOST is State Standard) 19.101-77 Types of programmes and programme
    documents

31. GOST 19.201-78 Requirements specification. Requirements for content and design

32. GOST 19.501-78 Form of requirements for content and design

33. GOST 34.602-89 Requirements specification to develop automated system

34. GOST 34.201-90 Types, completeness and indication of documents at developing
    automated systems

35. GOST 34.201-89 Information technology. Set of standards for automated systems.
    Types, completeness and indication of documents at developing automated systems

                                                                                            37
   36. GOST 34.603-99 “Information technology. Types of testing automated systems”.

   37. RD (RD is a guidance document) 50-34.698-90 “Automated systems. Requirements for
       content of documents”.

   38. GOST 34.601-90 “Automated systems. Development stages”.

   39. GOST 34 “Set of standards for automated systems”



   4. The System requirements
       The CIS of the State Commission shall include the following structural elements for
organizational and functional features:
       1. Core of the CIS of the State Commission
       2. Subsystem of administration of permissions, auditing and monitoring of the system
       3. Mechanism of using a digital signature
       4. Module of data downloading provided by the State Commission on Securities and
Stock Market of Ukraine to develop and implement the integrated system of information sharing
between agencies (authorities) responsible for state supervision and control in private pensions
system
       5. Subsystem of licensing
       6. Subsystem of planning, implementation and control of inspection activities of
supervisory institutions
       7. Subsystem of temporary administration accounting in the supervised institutions.
       8. Subsystem of formation, receiving, storage and processing of accounting data of
supervisory institutions using electronic digital signature for administrators of private pension
funds (hereinafter referred to as APF), private pension funds (hereinafter referred to as PPF),
insurance companies, credit unions and pawnshops
       9. Subsystem of analytical processing of reporting data of supervisory institutions – for
administrators of private pension funds, private pension funds, insurance companies, credit
unions and pawnshops


   4.1.Requirements to system functions
       4.1.1. Core of the complex information system of the State Commission
         Core of the CIS of the State Commission shall include:
     1. Development and implementation of registry the following market participants and
        individuals engaged in activity in the non-bank financial services:
                     insurance and reinsurance brokers with issuing certificate of inclusion;
                     insurance and/or reinsurance non-resident brokers notified their intention
                      to operate in Ukraine;
                     auditors able to conduct audits of financial institutions;


                                                                                                 38
                      entities that are not financial institutions by their legal status to register in
                       the State Commission;
                      actuaries that have certificate of the right to engage in actuarial
                       calculations and certify them;
                      credit bureaus;
                      self-regulatory organizations;
                      funds of construction financing and real estate funds;
                      individuals that have certificate of conducting the interim administration
                       of financial institutions;
                      lessors;
     2. Integration with the Instrumental complex for development and operation of
        information systems of the State Commission on data migration from the state register
        of financial institutions and administrators’ reporting of public pension funds and
        public pension funds


           4.1.1.1.Development and implementation of registry market participants and
                   individuals engaged in activity in the non-bank financial services
         The subsystem must automate the full cycle of registration of market participants and
individuals engaged in activity in the non-bank financial services (excluding financial
institutions listed in the State Register of Financial Institutions), which activity is regulated by
the State Commission.
      The subsystem shall provide data input to register and use of these data in subsequent
work with the CIS.
        The register is designed to accumulate and store data on market participants and
individuals engaged in activity in the non-bank financial services as well as for efficient search
and data analysis. The register is a computerized databank of market participants and individuals
engaged in activity in the non-bank financial services. Presence of the register will provide the
same type of data to market participants and individuals engaged in activity in the non-bank
financial services, flexibly and efficiently organization of distribution and control of user access
system.
        Experts of the State Commission, involved in the registration procedures of market
participants and individuals engaged in activity in the non-bank financial services, need to
provide the following functions:
      entry/editing registration details by filling the registration card by entity/individual after
       the commission decision. At the first visit the entity/individual is automatically assigned
       a unique identifier within the CIS, not interchangeable in subsequent work of the CIS;
      monitoring of accuracy and mandatory completion of registration data with the
       formation of control protocol. The control protocol shall be given to view and print for
       easy correction. The system shall not enable entity/individual to send a registration card
       for registration in the State Commission before correction of all errors.
        Administrator of the CIS shall be able to complete the list of types of market participants
and individuals, engaged in activity in the non-bank financial services, for further scaling of the
register that means expanding the audience of entities/individuals that will be recorded in the
register.


                                                                                                     39
        After that, all data changes of entities/individuals, documents and transactions of
entities/individuals, to be registered in the CIS, shall be associated with registration card in the
register with the unique identifier of the entity/individual in the CIS.
       The system shall keep a log of audit activity to make an analysis of the data input to
subsystem of licensing.
            4.1.1.2.Integration of the Instrumental complex for development and operation
                    of information systems of the State Commission on data migration from
                    the state register of financial institutions and administrators’ reporting of
                    public pension funds and public pension funds.
       It shall be ensured data migration from the Register of financial institutions and reporting
of public pension funds with the Instrumental complex to develop and operate information
systems of the State Commission.


        4.1.2. Subsystem of administration of permissions, auditing and monitoring of the
               system
        The subsystem of administration of permissions, auditing and monitoring of the system
shall be based on the following principles:
       support of users and access rights distribution. The mode shall be given to the
        administrator of central level. At the same time functions of the system shall be combined
        into groups. Users need to be granted permissions to work in groups without limiting the
        number of functions;
       auditing of user actions, which means that information about each transaction shall be
        stored in the system: who, when, where user performed the operation. The respective user
        shall have the right to review and analysis of audit log;
       registration about system errors.


        4.1.3. Mechanism of using a digital signature
         The mechanism shall integrate modules of electronic digital signature (hereinafter
referred to as EDS) to identify and authenticate users, to encrypt and sign documents. The
presence of EDS shall be required to work in the subsystem of reporting of supervisory
institutions. Key (open certificates and personal keys) management shall be made by “external”
accredited certification authority, which should meet the following requirements:
    -   compliance of regulations that specify requirements of certification authority (hereinafter
        referred to as CA) used by government authorities;
    -   organizational, hardware and software capabilities to service the required number of
        users;
    -   presence of regional network of registration offices or opportunity of online registration
        for geographically distributed users;
    -   availability of high quality technical and service support;
    -   opportunity of CA to respond promptly to requirements of current law in this area;
    -   opportunity of CA to provide choice of hardware EDS with different levels of security
        and additional functionality;
    -   absence of restrictions to use of selected software platform (at using CA crypto-modules);


                                                                                                 40
    -   allowable cost of services provided by CA.


        4.1.4. Module of data downloading provided by the State Commission on Securities
               and Stock Market of Ukraine to develop and implement the complex system
               of information sharing between agencies (authorities) responsible for state
               supervision and control in private pensions system
       The system shall provide the following data downloads given by the State Commission
on Securities and Stock Market of Ukraine:
        1. Composition, structure and value of private pension funds;
       2. Information about executed agreements on securities transactions for the reporting
period of trade organizers, one of the parties is a trader in securities with which company of
management of private pension funds assets entered into agreement;
       3. List and market value of securities and their derivatives on the last day of the month
for which administrative reports are given at the time of closing trades for each private pension
fund, in organized securities markets of Ukraine, corresponding Law of Ukraine “On private
pension provision”;
      4. Information on securities, which registration is cancelled, turnover is terminated or
renewed as of the last day of the month;
       5. List of private pension funds with the information of their administrators, keeper and
asset management company (hereinafter referred to as AMC);
        6. Information on equity of entities performing professional activities in the stock market
– the asset management of institutional investors (asset management), including information
about the reduction of equity (below the level established by the legislation);
       7. Information on non-residents in the authorized capital of entities licensed to carry out
professional activity in the stock market – the asset management of institutional investors (asset
management).
        It is to be implemented:
       to identify the log to save files available for download;
       to load data directly from files with the formation of protocols of loading;
       to view and print protocols of loading;
       to form and analyse of data from the boot log – file name; download time; person
        performed the download; result of loading;
       to audit of user actions on data downloads.


        4.1.5. Subsystem of licensing
        Subsystem of licensing is designed to provide automation licensing of entities and
certification of individuals by the State Commission. The licensing and certification process is
given out relevant certificates, licenses and certificates to entities/individuals. The subsystem
shall automate the full cycle of licensing (certification) of entities/individuals in the market of
financial services, affiliated with the State Commission.
        Experts of the State Commission involved in the licensing procedures should have access
to the subsystem for the following step-by-step procedure of licensing (relicensing):
       entrance and registration of registration documents provided by entity/individual to the
                                                                                                41
       CIS;
      necessary inspections and approvals;
      entrance data protocol on making decision to license (relicense) to the CIS after the
       meeting of the Licensing Commission. It is necessary to allow for storage and analysis
       of the history of licenses issued to market participants including management,
       cancelling, renewal, revocation, termination, limitations and reissue of licenses;
      registration and printing the license (certificate);
      control the license giving out to licensee;
      control the terms of licenses (certificates), including reminders of market participants
       about the end of validity period;
      making any changes to the system shall be signed electronically.
        The reason for the steps of licensing (certification) process automation shall be
regulations and internal documents of the State Commission.
       The system shall keep a log of audit activities to make an analysis of the data entrance in
the subsystem of licensing.


       4.1.6. Checkout subsystem
       The subsystem is designed to automate planning, preparation and conduct inspections of
market participants, and monitoring the shortcomings correction found during inspections.
        There are scheduled and unscheduled inspections. It shall be implemented scheduling of
planned audits for the period. To simplify the selection of entities/individuals for inspection it
shall be verified the process of prior automatic selection of candidates for the following criteria:
      activity;
      date of the last inspection;
      date of issue the license;
      location: region, city (town);
      size of the entity's assets;
      enforcement actions applied before (performed/unperformed).
       In addition to automatically scheduling of inspections, it is necessary to enable the
formation and editing graphics using manual editing.
        Schedules of inspections and inspection results shall refer to a registration card of market
participant (by market participant’s identifier in the register)
       The subsystem of planning, control of inspection activities (audits), monitoring of
       violations and control of enforcement measures applied by the audit shall include the
       following areas:
      type of inspection (scheduled and unscheduled);
      details of the order (number and date) of the inspection (manual or automatic input when
       selecting the document from electronic document management system);
      list of experts available for inspection. Each user has to be chosen from the list of users.
       To display to enter name and position of the user;


                                                                                                 42
       reduced content of inspection;
       contents of violations during inspection;
        result of inspection (date, inspection act number);
       list of violations identified during inspection, distributed in violations of the financial
        services sector and in financial monitoring;
       measure of impact used by inspection result (date, number, type, sum, date of
        performance), given that there can be applied several measures according to the
        inspection result.
        To provide information on modes of analysis of inspections and enforcement for the
specialists engaged in inspections (according to permissions granted) there shall be included:
       list of the next time inspections;
       list of inspections being performed;
       list of institutions that exceed a time limit of terms of shortcomings identified during
        inspections;
      list of violations (in the financial services / in the financial monitoring);
      list of measures of impact applied currently;
      list of institutions that have not done enforcement actions in time.
        Upon receipt of these analytical reports there shall be provided the opportunity to filter
data by types of inspections, types of financial institutions, types of activities, for a certain period
of time, by region/city inspections, experts conducting inspections, types of applied means of
impact, type of violation (in the financial services/in the financial monitoring), etc. In addition to
setting the filter parameters it shall be given the opportunity to obtain quantitative data on
inspections.


        4.1.7. Subsystem of temporary administration accounting in supervised institutions
         The subsystem is designed to account temporary administrations in the supervised
institutions and analyse of their activity in terms of types of the institutions, address information,
types of financial services provided by the institutions etc.
        It is necessary to ensure distribution of user rights concerning this subsystem and audit of
user actions.


        4.1.8. Subsystem of formation, receiving, storage and processing of accounting data
               of supervised institutions using electronic digital signature for administrators
               of private pension funds, private pension funds, insurance companies, credit
               unions and pawnshops.
       The subsystem is designed to automate the process of creating, testing and giving reports,
administrative and other information to the State Commission by market participants as well as
to automate the control functions of these processes by experts of the State Commission.
       The subsystem shall include the formation, receiving, storing and processing of reporting
information provided by private pension funds, insurance companies, credit unions and
pawnshops.
        Market participants shall provide the following functions using the web-interface:
       input reports online manually. When completing reports to fill cells (final, accounting,

                                                                                                     43
       etc.) automatically;
      import reports by downloading the ХМL-file of defined structure;
      import reports from existing formats (for initial limited period of time);
      control accuracy of required reports with the formation of the control protocol, designed
       for viewing and printing;
      if there is no error of control, sign the reports by the chief accountant and the head using
       electronic digital signature and certify with digital seal;
      send signed reports to the State Commission;
      get confirmation of the State Commission to receive reports with EDS;
      form and give correcting reports to make corrective changes;
      save the history of filing reports in the system;
      get comments on the reporting from the State Commission for further revision.
       The interface of the State Commission expert shall provide the following:
      decision about the correctness of the given reports; official messages to market
       participants on behalf of the State Commission;
      protocols of audit;
      review and analysis of the process of filing reports;
      review and print reports, submitted by market participants.


       4.1.9. Subsystem of processing of reporting data of supervised institutions (for
              administrators of private pension funds, private pension funds, insurance
              companies, credit unions and pawnshops)
        The subsystem of analytical processing of reporting data of supervised institutions is
designed to automate the reporting on the financial report that is stored in the CIS. The main idea
of the system is statistical processing of reporting data (large volumes of initial reporting data)
and its easy visualization.
       The subsystem includes:
      formation of the integrated form of typical reports for the selected type of financial
       institution for a certain period of time;
      formation of deployed forms of typical reports of the selected type of financial institution
       for a certain period of time;
      formation of standard forms of reporting set at the stage for adoption of requirements
       specifications of the CIS.
       The subsystem shall include designer for development and establishment of adaptive
templates of report tables:
      identify rows in report table;
      identify columns in report table;
      determine forming conditions of cells in report tables with a choice of details of database
       tables, logical operators and formulas.


                                                                                                44
        It shall be given a choice of representation, e.g. chart, pie chart, table, etc. to display a
report table.
       There shall be the opportunity to report on the parameters of the formation for each
template.
        The subsystem shall include development of reporting templates and form templates for
reports for private pension institutions, insurance companies, credit unions and pawnshops.
        There shall be provided distribution of access rights to users for analytical processing of
reporting (by function and by type of financial institutions) and for printing reports as results of
the analysis.
       To adopt this subsystem there shall be developed analysis procedure to hold adoption.


   4.2.General requirements to the system
       Information support of the State Commission shall meet the following requirements:
        Complexity. Information support in the regulation of financial services shall cover all
areas of business regulation and regulatory processes.
       Completeness of information (including sufficiency, non-redundancy, reliability, ability
of multi-criterion). For complete information it is necessary to:
        include each and all areas of regulation of financial services regulation to the
         database;
        develop a data model to meet the needs of completeness and integrity;
        use modern databases providing data integrity.
         Coherence. Information flows listed in the information model shall be aligned with the
real structure of supervisory authorities and regulated entities.
       Integrity. Information model shall use systems of classification and coding that must be
developed with maximum use of existing official classifiers (e.g. classifiers of State Statistics
Committee, State Standard of Ukraine, State Tax Administration, National Bank of Ukraine,
etc.).
       Speed of information. Management decisions should be made in real time regardless of
the complexity of the issues solved and the volume of circulating information.
       Analyticity. The opportunity to obtain certain aggregate information resulting from
analysis of data stored in the CIS of the State Commission.


   4.3.Requirements to the principles of the system creation
       The CIS of the State Commission shall provide:
        single ideology and programme information platform of construction in some parts of
         the CIS;
        single centralized database and web-interface of users using the platform. Net;
        modular building for the possibility of its scaling;
        policy of allocation of user access to various components of the CIS depending on the
         structure of the State Commission, rights and responsibilities of experts working in
         the CIS;


                                                                                                  45
        typical nature of design decisions, openness of the system (possibility of modification
         and development) due to its modular structure, client-server architecture, open
         interfaces for possible revision and integration with other systems and modules;
        consistency and continuity of development of the CIS of the State Commission, as the
         scale project;
        reengineering of processes of the State Commission and introduction of modern
         technology of business processes management (operations workflow), which provides
         the interaction of all users;
        modern technologies and approaches to establishing and operating the system,
         availability of training programmes for users, possibility of guarantee maintenance of
         the system by the developer over at least three years;
        low requirements to the users with only the initial skills of work with application
         software that works on Windows and knowledge of office systems such as Microsoft
         Office;
        staged increase of functionality and system resources, possibility of amending and
         updating the system by employees of the State Commission (if there are appropriate
         department);
        high reliability and fault tolerance, safety and security by means of special protection,
         certified in Ukraine. When all the documents and data, the rules of their processing,
         distribution routes and service information are protected from any intentional and
         unintentional interference, there are used modern methods of cryptographic protection
         and means of “electronic signature”, access control in accordance with the
         requirements of information security in the CIS of the State Commission depending
         on the security classification (public information, information for official use, secret
         information, etc.) and comprehensive system of technical protection; there are also
         provided license software;
        scalability, i.e. the ability of the CIS of the State Commission to support five or five
         thousand users and increase its power only by the use of more powerful hardware.
        distribution, when the system architecture supports the interaction of distant organs,
         which can be combined in communication channels with a variety of speed and
         quality. The system architecture shall also support interaction with remote users;
        technological transparency for document and data processing, when the process is
         single and transparent to all users, regardless of location of workstations, servers,
         degree of their remoteness and types of communication used. For common,
         multistage document processing by many executors in different places and even in
         different cities, there is no need of their constant presence and direct communication,
         the system takes care and each person performs his part of work in time;
        incorporation of best practices in creating systems developed and implemented in
         Ukraine and in the whole world.
   4.4. Requirements to the general software system

            4.4.1. Requirements to the database management system
              Database management systems: Oracle 11 G 64-bit Standart Edition with the
license for each server processor (with the ability of further transition to Enterprise Edition).

            4.4.2. Requirements to the database server operating system


                                                                                                    46
              Windows 64-bit operating systems.
        Windows Server 2003 - all x64 editions;
        Windows Server 2003 R2 - all x64 editions;
        Windows XP Professional x64 Edition;
        Windows Vista x64 - Business, Enterprise, and Ultimate editions;
        Windows Server 2008 x64 and Windows Server 2008 R2 x64 - Standard, Enterprise,
         Datacenter, Web, and Foundation editions. The Server Core option is not supported.;
        Windows 7 x64 - Professional, Enterprise, and Ultimate editions.

       4.4.3. Requirements to WEB-server operating system

     WEB-server operating system is Windows Server 2008 R2.
     Provided that the database server and WEB-server are physically located on one server -
Windows Server 2008 R2 x64 (Standard, Enterprise, Datacenter, Web, Foundation).

      4.4.4    Requirements to the workstations operating system

      Workstations operating system:
        Windows Server 2003 - all editions;
        Windows Server 2003 R2 - all editions;
        Windows XP Professional;
        Windows Vista - Business, Enterprise, and Ultimate editions;
        Windows Server 2008 - Standard, Enterprise, Datacenter, Web, and Foundation
         editions;
        Windows 7 - Professional, Enterprise, and Ultimate editions.

   5. Requirements to the list of provided services
      Services to be provided:
  - specification development on the State Commission CIS;
  - software development;
  - server 1 set-up for the software trial operation (delivery of hardware and system software is
not subject of the competitive bidding);
 - software testing (including Customer);
 - Customer users training.

  6. Requirements to the software acceptance

    Software is to be transferred to the Customer in the form of finished installation on optical
media. Similarly, each version of the software that is subject to launching is to be transferred
(with the in-line documentation).

    After transferred to the Customer and version control, the Customer specialists training takes
place as well as versions testing for compliance with the technical requirements and in-line
documentation.
    If errors, the list is transmitted to the Developer for improvements. After error correction
transmission cycle is repeated.
                                                                                                    47
   After correcting all errors Delivery and Acceptance Certificate act of corresponding software
version is documented.
  7. Requirements to the training


      Training should take place at the Customer’s before corresponding software version is
  delivered.
     Developer must prepare materials for training.

     Subsequent to the results of training to collect and analyze user feedback for further
software updating if necessary.
  8. Requirements to the documentation

     While the State Commission CIS creating the following documents are to be developed:

      - Requirements specification of the CIS creation;
      - Technical and working project;
      - User manual;
      - Administrator manual;
      - Other documents, according to the operating standards:
       All documents must be written according to the following general rules:

    - The introduction of each document should define the purpose and document capacity.
    - The document must contain a list of links and materials used.

    - To facilitate reading the documents should be divided into chapters, subchapters,
       sections, etc. according to the content. Each chapter, subchapter, section, etc. should
       have a title. It is recommended to use the same numbering for chapters, subchapters,
       sections of the document.

    - Any clipping should be avoided in the text. If clippings, they must be included in the list
       of abbreviations.

    - Documentation must be accompanied by glossary containing the terms used in the
       description. It is recommended to create several glossaries for different types of users.

    - To visualize the information it is appropriate to use pictures, graphs and tables, if it is
       facilitating learning. Guidance screens with comments in the ultimate user
       documentation facilitate the perception of explanations.

    - The document must have a content consisting of issues, page titles and numbers of all
       chapters, subchapters, sections, etc., as well as pictures, graphs, tables, and the
       appendixes in the document.




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     9. Services schedule plan

Note: Execution period of the stages of the schedule plan are defined in terms of the agreement
be signed with the Performer no later than 01/07/2011

№ Stage name                              Stage services list                           Stage ends with                               Execution
з/п                                                                                                                                    period

1    2                                    3                                             4                                           5
1.   CIS DFP concept formulation;         CIS DFP Terms of Reference development        Terms of Reference under the                26.08.2011
                                          services;                                     existing CIS State
                                                                                        Commission standards;
                                          Terms of Reference formulation;
                                                                                        Executive documents preparation under
                                                                                        the agreement (stage 1);;
                                       Approval of the Terms of Reference with the
                                       Customer
2.   Nucleus formulation and delivery; CIS DFP nucleus formulation and delivery; Software on optical media;                         03.09.2011

     Formulation and delivery of the      Formulation and delivery of the               Software supply;
     administration subsystem by          administration subsystem by access rights,
      access rights, auditing and         auditing and monitoring system;
                                                                                        Operational documentation (user manual,
     monitoring system;
                                                                                         administrator manual, etc.);;
                                          Testing procedure formulation;
                                                                                        Research procedure
                                          User training;                                under existing standards;

                                          Acceptance for examinational operation;       The document certifying
                                                                                        the completeness of the software product
                                                                                        (patent, certificate, license, etc.), in
                                          Acceptance for commercial operation
                                                                                        accordance with the procedures
                                                                                        established by the legislation of Ukraine

                                                                                        Executive documents preparation under
                                                                                        the agreement (stage 2)



3.   Formulation and delivery of the      Formulation and delivery of the EDS           Software on optical media;                  30.09.2011
     EDS mechanism;                       subsystem;
                                                                                        Software supply;
     Formulation and delivery of the      Formulation and delivery of the licensing
     licensing subsystem;                 subsystem;
                                                                                        Operational documentation (user manual,
                                                                                         administrator manual, etc.);;
     Formulation and delivery of the      Formulation and delivery of the checkout
     checkout subsystem;                  subsystem;
                                                                                        Research procedure
                                                                                        under existing standards;
     Formulation and delivery of          Formulation and delivery of the provisional
     the provisional administration       administration in supervised institutions
                                                                                        The document certifying
     in supervised institutions           input and calculation subsystem;
                                                                                        the completeness of the software product
     input and calculation subsystem;
                                                                                        (patent, certificate, license, etc.), in
                                          Formulation and delivery of the data          accordance with the procedures
     Formulation and delivery of the      downloads module provided by SEC to           established by the legislation of Ukraine
     data downloads module provided       develop and implement an integrated system
     by SEC to develop                    of data exchange between agencies
     and implement an                     responsible for state supervision
     integrated system of data exchange   and control of refinery;
     between agencies responsible                                                       Executive documents preparation under
     for state supervision                                                              the agreement (stage 3);;
                                          Testing procedure formulation;
     and control of refinery

                                          User training;

                                          Acceptance for examinational operation;

                                          Acceptance for commercial operation




                                                                                                                                                 49
№     Stage name                           Stage services list                        Stage ends with                               Execution
з/п                                                                                                                                  period


1     2                                    3                                          4                                           5
4.    Formulation and delivery of the      Formulation and implementation of the      Software on optical media;                  14.10.2011
      formation, acceptance, storage and   formation, acceptance, storage and
      processing of                        processing of
                                                                                      Software supply;
      regulatory institutions accounting   regulatory institutions accounting data
      data using digital signatures for    using digital signatures subsystem
       administrators of private pension   (administrators of private pension funds   Operational documentation (user manual
      funds and private pension funds      and private pension funds themselves,      , administrator manual, etc.);;
      themselves, insurance                insurance companies, credit unions
      companies, credit unions             and pawnshops);
                                                                                      Research procedure
      and pawnshops subsystem
                                                                                      under existing standards;
                                           Testing procedure formulation;
                                                                                      The document certifying
                                           User training;                             the completeness of the software product
                                                                                      (patent, certificate, license, etc.), in
                                                                                      accordance with the procedures
                                           Acceptance for examinational operation;
                                                                                      established by the legislation of Ukraine

                                           Acceptance for commercial operation
                                                                                      Executive documents preparation under
                                                                                      the agreement (stage 4);;
5.    Development and delivery of the      Formulation and implementation of the      Software on optical media;            14.11.2011
      regulatory institutions analytical   regulatory institutions analytical treatment
      treatment for administrators of      subsystem (administrators of private pension
                                                                                        Software supply;
      private pension funds and private    funds and private pension funds themselves,
      pension funds themselves,            insurance companies, credit unions
      insurance companies,                 and pawnshops);                              Operational documentation (user manual
      credit unions and pawnshops                                                       , administrator manual, etc.);;
      subsystem
                                           Testing procedure formulation;
                                                                                      Research procedure
                                                                                      under existing standards;
                                           User training;

                                                                                      The document certifying
                                           Acceptance for examinational operation;
                                                                                      the completeness of the software product
                                                                                      (patent, certificate, license, etc.), in
                                           Acceptance for commercial operation        accordance with the procedures
                                                                                      established by the legislation of Ukraine

                                                                                      Executive documents preparation under
                                                                                      the agreement (stage 5 and under the
                                                                                      agreement in general);




                                                                                                                                               50
                                                                                      ANNEX 7

                                                               Competitive bidding documentation


                                Integrated information system
       of the State Commission for Regulation of Financial Services Markets of Ukraine
                                      software prototype
                                         requirements

                                         General requirements

  The Customer, with a view to evaluate the quality of services, requires that participants
demonstrate a working prototype of the integrated information system software of the State
Commission for Regulation of Financial Services Markets of Ukraine.

  Prototype of a participant must meet all the requirements below.

  If prototype discrepancy to any of the following requirements in the Appendix, or if prototype
absence at participant’s disposal, the participant bid should be rejected.

  Prototype demonstration takes place in the premise of the Customer, on the hardware system
of a participant. A prototype copy remains to the Customer on the hardware system of a
participant for 5 working days to carry out an independent analysis of the Customer prototype
functioning.


                                  Prototype functions requirements

   Requirements for prototype software of the integrated information system of the State
Commission for Regulation of Financial Services Markets of Ukraine dealing with the system
functions implementation, and accountability forms of private pension funds as an example:

 - analytical subsystems base:
    • templates formation for the creation of tabular adaptive reports:

        • definition of the structure of a tabular report template;

    • template Cell Padding formulas formation using CIS data, and logical operators (AND,
    OR, parentheses, links to the cells in other reports, etc.);
    • reporting according to templates;
  - reporting package submission of private pension funds using WEB-interface:

        • manual report input;
        • auto memorization of total cells;
        • reports filling-in control;
        • protocols preparation control and reviewing;
        • reports sending;
   -     registration of reporting institutions in the State Commission;

        • reports reception sent by the market entity;


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       • filling-in accuracy control

The prototype should be created in compliance with the regulatory framework, which regulates
the activity of the State Commission.




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