a.        An official application of intention to supply crude oil and refined products to the country via telex/fax/letter;  b.        The company’s current annual report or profile showing its history, capital/corporate structure and annual financial highlights.  c.        Audited Accounts for the last three years  d.        Technical and Financial Capabilities (Healthy financial status, good credit standing and records. Short term credit rating should stand at Moody’s P-1 or above, or the Standard & Poor’s A1 + above.  Otherwise, the company must submit a letter from reputable international banks verifying and certifying the financial credibility of the company). e. Experience (A description of the company’s business transactions and actual crude oil and petroleum products trading activities, including annual turnover/counter parties, company’s trading experience /history etc. Actual experience in international crude oil trading for more than three years with a minimum annual trading amounting to one hundred million United States dollars (USD100,000,000), which must be supported with a valid document.  f. Demonstrable ability to supply  g. Minimum equity capital requirement of GH¢ 30 million. An applicant’s claim of GH¢30 million must be specified as its stated capital and proven by any or a combination of the following: • Cash or cash equivalents (e.g. government bonds, treasury bills etc.) lodged at the Bank of Ghana serving as equity capital. • Equity stake in an industry relevant fixed asset (e.g. storage depot, port infrastructure etc.) must be proved by an independent accounting firm to be appointed by the NPA. • Please note that the minimum capital must be held and owned by the applicant (not its shareholders, affiliates, subsidiaries or ultimate beneficiaries). h. A minimum trade facility equivalent to US$ 60 million. Please note that new applicants will be required to submit evidence in writing from a reputable bank or banks licensed by the Bank of Ghana and in good standing in support of their application stating their willingness to provide funding not less than US$ 60 million or its Ghana Cedi equivalent to the applicant.  i. Installation of the front-end of the GCNet in the local offices of the respective applicant and subsequent declaration of all petroleum imports and exports to customs through the Ghana Customs Management System/Ghana Customs Network (GCMS/GCNet) prior to the delivery of their cargoes.  j. Evidence of local participation i.e. at least 50% shares to be held by Ghanaian citizens.  The Authority reserves the right to delete from the list of “tender invitation”, any company/supplier under any of the following conditions:  a. Failure to provide any offers (bids) for 3 consecutive bids without justifiable reasons   b. Except for force majeure, delays in shipment (two instances) that results in a financial loss to the Authority and failure to indemnify the Authority from such a loss.  c. Report of financial crisis incurred in the media and failure to clarify such unconfirmed market information.  d. Hearsay of default of shipment obligation to other buyers without proven legitimate reasons and failure to clarify such unconfirmed market information. 

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