1. In case of rejection of a proposal of an interested party due to non-fulfillment of the formal conditions set by the present procedure, as described in paragraph 3 of Manager Selection Procedure, the latter reserves the right to submit objections, which he sends to the address [email protected] within ten (10) days from the date of sending a message regarding the rejection of his proposal by HDBI.
  2. HDBI responds by e-mail within ten (10) days from the receipt of the above objections and in case of acceptance, HDBI will proceed to the second stage of the examination and evaluation of the Expression of Interest in accordance with paragraph 5 of Manager Selection Procedure.
  3. It is clarified that an interested party found to meet grounds for exclusion under Grounds for Exclusion herein, may be excluded at any stage of the procedure after an Expression of Interest was submitted. If this is established following the completion of the procedure described in paragraph (3) of Manager Selection Procedure, HDBI will inform the interested party for their rejection by e-mail and whereas the procedure described in Right to Object may apply.