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involving sizeable contracts, of a highly technical complexity and considerable financial risks, for whichthis percentage may reach 10%. The guarantees may be:a) escrow in money or public debt securities;b) insurance guarantee;c) bank guarantee.Laws 11,972/09 and 12,188/10 altered the conditions for the sale of goods of the Public Administration(subject to the existence of duly justified public interest) and cases of the waiver of invitations to bid.On 5 August 2011, Federal Law 12,462/2011 was published originally with the purpose of regulatinggovernment bids and public procurement in connection with the major sports events that will be held inBrazil in the coming years (Confederations Cup, World Cup, Olympic Games and Paralympic Games).This law introduced the so-called Special Public Procurement Regime (Regime Diferenciado deContratações Públicas - RDC). However, after coming into effect, the scope of the RDC wasbroadened to include projects that are part of the government's growth acceleration program(Programa de Aceleração do Crescimento – PAC) (added by Law 12,688/2012) and engineeringservices and works in connection with the public school system (added by Law 12,722/2012).The main innovation of the RDC regime was that it repealed the provisions of the Bidding Law exceptin the cases expressly provided in the RDC law. The result of this new legal framework is that theRDC introduced some changes in relation to the Bidding Law, such as: shorter time periods forbidders to submit their proposals; preference given to electronic bidding; a single appeals stage;introduction of a new contracting method ("Integrated Contracting"), whereby the winning bidder isrequired to prepare both the basic and the executive projects, etc. The constitutionality of the RDC lawis being questioned in two actions of unconstitutionality filed with the Supreme Federal Court(Supremo Tribunal Federal – STF). Judgment is pending on both.9.2. ConcessionsBrazilian Law allows the State to delegate the provision of public services to third parties by means ofconcessions, conducted via invitation to bid procedures, whereby the Public Authority awards toprivate enterprise the right to build or reform the necessary structure to be able to provide the service,exploit it commercially and receive remuneration by charging user fees.Hence, the concessionaire invests in place of the State, at its own expense and risk under theconditions established and unilaterally modifiable by the Granting Power, but under the contractualguaranty of economic-financial equilibrium, receiving remuneration from the exploitation of the service,in general by means of rates charged directly from its users.64