March 30.2015

　　In March 2015 Watson & Band attorneys Yueqing Wu and Yuxia Zhang provided a training program on bidding-related legal issues for a Sinopec subsidiary, Sinopec Materials and Equipment East China Co., Ltd.

　　Sinopec Materials and Equipment East China Co., Ltd. is a wholly-owned subsidiary of Sinopec International Business Co., Ltd., which is the materials and equipment department of China Petrochemical Corporation, responsible for material procurement for the Sinopec Group. As a large state-owned enterprise, Sinopec International Business Co., Ltd. needs to procure goods or services year-round by means of bidding under its internal regulatory framework. This task requires the prudent utilization of state-owned funds as well as skillful coordination between fairness and efficiency concerns. To solve these difficulties in practice, the Sinopec subsidiary invited attorneys from Watson & Band to present a training program on bidding law. The training centered on institutional requirements, workflow, operational norms, legal issues and risk precautions in the bidding process. It included detailed explanations and case briefing in which the attorneys interpreted general provisions of the law and applied them to the Group’s actual conditions. In particular, they provided solutions and countermeasures applicable to problems such as failed bidding, annulled bidding and invalid bidding.

　　After the training session ended the attorneys led a well-received discussion with Sinopec’s managers and employees regarding issues actually encountered in bidding practice.