<p>The word limits set out in Section 5 of the Freeports Bidding Prospectus have been carefully calibrated to give bidders the best chance to show the strengths of their proposals. We have given bidders the room to convey the key information we need to assess bids robustly, whilst ensuring that submitting a bid is feasible within the 12-week bidding period.</p><p>Successful bidders will then be invited to develop a business case for regeneration funding, to work with HMT and HMRC to review and confirm the boundaries of their proposed tax sites, and to begin the HMRC-run authorisation process for customs site operators, ensuring proposals remain of a high standard as they move into implementation.</p>