Procurement (a) General. All goods and consultants’ services required for the Project and to be financed out of the proceeds of the Grant shall be procured in accordance with the requirements set forth or referred to in: (i) Section I of the “Guidelines: Procurement of Goods, Works and Non-consulting Services under IBRD Loans and IDA Credits and Grants by World Bank Borrowers” dated January 2011 (revised July 2014) (“Procurement Guidelines”), in the case of goods; (ii) Sections I and IV of the “Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits and Grants by World Bank Borrowers” dated January 2011 (revised July 2014) (“Consultant Guidelines”) in the case of consultants’ services; and (iii) the provisions of this Section, as the same shall be elaborated in the procurement plan prepared and updated from time to time by the Recipient for the Project in accordance with paragraph 1.18 of the Procurement Guidelines and paragraph 1.25 of the Consultant Guidelines (“Procurement Plan”). (b) Definitions. The capitalized terms used in the following paragraphs of this Section to describe particular procurement methods or methods of review by the World Bank of particular contracts, refer to the corresponding method described in [Sections II and III of the Procurement Guidelines, or] Sections II, III, IV and V of the Consultant Guidelines, as the case may be. (c) Particular Methods of Procurement of Goods (i) Except as otherwise provided in sub-paragraph (ii) below, goods and non- consulting services shall be procured under contracts awarded on the basis of International Competitive Bidding subject to the following additional procedures: (ii) The following methods, other than International Competitive Bidding, may be used for procurement of goods for those contracts which are specified in the Procurement Plan:(A) National Competitive Bidding; (B) Shopping; and (D) Direct Contracting. (iii) NCB modifications: The National Competitive Bidding procedures shall be based on the Open Procedures as defined in the Public Procurement Law of Serbia, and the following additional provisions: (i) "Open Procedures” as defined in Public Procurement Law of Serbia shall apply to all contracts; (ii) Foreign bidders shall not be precluded from bidding and no preference of any kind shall be given to national bidders in the bidding process. Government-owned enterprises in Serbia shall be permitted to bid only if they are legally and financially autonomous and operate under commercial law of the Borrower; (iii) Procuring entity shall use sample bidding documents approved by the World Bank; (iv) In case of higher bid prices compared to the official estimate, all bids shall not be rejected without the prior concurrence of the World Bank; (v) A single-envelope procedure shall be used for the submission of bids; (vi) Post-qualification shall be conducted only on the lowest evaluated bidder; no bid shall be rejected at the time of bid opening on qualification grounds; (vii) Bidders who contract as a joint venture shall be held jointly and severally liable; (viii) Contracts shall be awarded to the lowest evaluated, substantially responsive bidder who is determined to be qualified to perform in accordance with pre-defined and pre-disclosed evaluation criteria; (ix) Post-bidding negotiations shall not be allowed with the lowest evaluated or any other bidders; and (x) Contracts of long duration (more than 18 months) shall contain appropriate price adjustment provisions. (d) Particular Methods of Procurement of Consultants’ Services (i) Except as otherwise provided in item (ii) below, consultants’ services shall be procured under contracts awarded on the basis of Quality- and Cost-based Selection. (ii) The following methods, other than Quality- and Cost-based Selection, may be used for the procurement of consultants’ services for those assignments which are specified in the Procurement Plan: (A) Least Cost Selection; (B) Selection based on Consultants’ Qualifications; (C) Single-source Selection of consulting firms; (D) Selection of Individual Consultants; and (J) Sole-source procedures for the Selection of Individual Consultants. (e) Review by the World Bank of Procurement Decisions. The Procurement Plan shall set forth those contracts which shall be subject to the World Bank’s Prior Review. All other contracts shall be subject to Post Review by the World Bank. (f) Document Retention. Notwithstanding the provisions of paragraphs 2(j) and 5 of Appendix 1 to the Procurement Guidelines, and paragraphs 2(k) and 5 of Appendix 1 to the Consultant Guidelines, the Recipient: (i) shall retain all documentation with respect to each contract as described in said paragraphs for at least seven years and six months after the Closing Date set forth in Section 3.03 of this Agreement; (ii) shall furnish such documentation to the World Bank at any time upon request; and (iii) hereby authorizes the World Bank to disclose such documentation to the Donor. PROCUREMENT Serbia : Serbia Technical Assistance to Reform Corporate Financial Reporting PLAN General Information Country: Serbia Bank’s Approval Date of the Original Procurement Plan: 2018-10-25 2020-01-14 Revised Plan Date(s): (comma delineated, leave blank if none) Project ID: P154862 GPN Date: Project Name: Serbia Technical Assistance to Reform Corporate Financial Reporting Loan / Credit No: TF / A2080 Executing Agency(ies): Central Fiduciary Unit WORKS Bid Evaluation Activity Reference No. / Draft Bidding Loan / Credit Market Procurement Prequalification Estimated Actual Amount Process Draft Pre-qualification Prequalification Specific Procurement Bidding Documents Proposal Submission / Report and Description Component Review Type Method Document / Signed Contract Contract Completion No. Approach Process (Y/N) Amount (US$) (US$) Status Documents Evaluation Report Notice / Invitation as Issued Opening / Minutes Recommendation for Justification Award Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual GOODS Bid Evaluation Activity Reference No. / Draft Bidding Loan / Credit Market Procurement Prequalification Estimated Actual Amount Process Draft Pre-qualification Prequalification Specific Procurement Bidding Documents Proposal Submission / Report and Description Component Review Type Method Document / Signed Contract Contract Completion No. Approach Process (Y/N) Amount (US$) (US$) Status Documents Evaluation Report Notice / Invitation as Issued Opening / Minutes Recommendation for Justification Award Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual NON CONSULTING SERVICES Bid Evaluation Activity Reference No. / Draft Bidding Loan / Credit Market Procurement Prequalification Estimated Actual Amount Process Draft Pre-qualification Prequalification Specific Procurement Bidding Documents Proposal Submission / Report and Description Component Review Type Method Document / Signed Contract Contract Completion No. Approach Process (Y/N) Amount (US$) (US$) Status Documents Evaluation Report Notice / Invitation as Issued Opening / Minutes Recommendation for Justification Award Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual RCFR/1/1.6/2016 / IDEA LICENSES AND TRAINING TF / A2080 Post Direct Selection Direct 68,184.00 62,547.46 Signed 2019-10-30 2019-11-04 2019-11-18 2019-12-31 FOR THE STATE AUDIT INSTITUTION OF SERBIA CONSULTING FIRMS Activity Reference No. / Combined Evaluation Loan / Credit Market Contract Type Estimated Actual Expression of Interest Short List and Draft Request for Proposals Opening of Technical Evaluation of Description Component Review Type Method Process Status Terms of Reference Report and Draft Signed Contract Contract Completion No. Approach Amount (US$) Amount (US$) Notice Request for Proposals as Issued Proposals / Minutes Technical Proposal Negotiated Contract Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual RCFR 1/1.1/2016 / Training in use and application of IFRS, IFRS for SMEs and ISAs and organization of Quality And Cost- Open - TF / A2080 Prior 1,216,700.00 907,419.79 Canceled events and activities in Based Selection International order to increase understanding and use of financial reporting RCFR 1/1.1/2016 (revised) / Consultant for training in use and application of IFRS, IFRS for SMEs and ISAs Quality And Cost- Open - TF / A2080 Prior 1,200,000.00 915,372.40 Signed and organization of events Based Selection International and activities in order to increase understanding and use of financial reporting Page 1 INDIVIDUAL CONSULTANTS Activity Reference No. / Invitation to Loan / Credit Market Contract Type Estimated Actual Draft Negotiated Description Component Review Type Method Process Status Terms of Reference Identified/Selected Signed Contract Contract Completion No. Approach Amount (US$) Amount (US$) Contract Consultant Planned Actual Planned Actual Planned Actual Planned Actual Planned Actual SRB-TF2080- RCFR/2/2.3/2016 / Financial TF / A2080 Prior Direct Selection Direct 0.00 28,517.12 Signed Specialist SRB-TF2080- RCFR/2/2.2/2016 / TF / A2080 Prior Direct Selection Direct 0.00 28,517.12 Signed Procurement Specialist Individual YF-CFU-92136-CS-INDV / TF / A2080 Post Consultant Limited 27,300.00 71,990.70 Signed 2018-12-28 2019-01-02 2019-01-30 2019-03-06 2019-12-31 Project Coordinator Selection RCFR1/109/2019 / Consultant for alignment of translated IFRS and IFRS for SMEs with Serbian TF / A2080 Post Direct Selection Direct 4,400.00 4,158.06 Signed 2019-06-13 2019-06-21 2019-07-05 2019-09-30 official terminology and for ensuring the accuracy of translated standards (first position) RCFR1/110/2019 / Consultant for alignment of translated IFRS and IFRS for SMEs with Serbian TF / A2080 Post Direct Selection Direct 4,440.00 4,158.06 Signed 2019-06-13 2019-06-21 2019-07-05 2019-09-30 official terminology and for ensuring the accuracy of translated standards (second position) RCFR1/111/2019 / Consultant for alignment of translated IFRS and IFRS for SMEs with Serbian TF / A2080 Post Direct Selection Direct 4,440.00 4,158.06 Signed 2019-06-13 2019-06-21 2019-07-05 2019-09-30 official terminology and for ensuring the accuracy of translated standards (third position) RCFR1/112/2019 / Consultant for alignment of translated IFRS and IFRS for SMEs with Serbian TF / A2080 Post Direct Selection Direct 4,440.00 0.00 Canceled 2019-06-13 2019-06-21 2019-07-05 2019-09-30 official terminology and for ensuring the accuracy of translated standards (forth position) RCFR/1/1.12/2020 / Consultant for support in preparation and implementation of the new TF / A2080 Prior Direct Selection Direct 84,000.00 0.00 Under Review 2020-01-17 2020-01-27 2020-02-17 2021-03-31 by-laws (enforcement of the Accounting Law) including trainings (second half of 2020 and Q1 of 2021) RCFR/1/1.15/2020 / Consultant for analysis of the existing and preparation of new Chamber of Authorized Auditors by-laws Pending and providing TF / A2080 Prior Direct Selection Direct 48,000.00 0.00 2020-01-20 2020-01-28 2020-02-18 2020-12-31 Implementation inputs/suggestions for improvements and implementation of the new by-laws within accounting and audit regime Page 2