ANSWER:
The RFP asks consulting firms to state that their financial proposals are valid for three months. If a contract is not finalized within three months of the date that the consultants submit their proposals, ADB (or the borrower) can ask the first-ranked consultant for one extension of up to three months. Therefore the deadline for finalizing the contract is six months from the date the consultants submit proposals. The intention is that if the contract is not finalized within six months, then the selection process should start again. However, in practice ADB would review each case and decide whether to extend the validity further or to start a new selection.
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