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It's quite reasonable to be skeptical of -anything- on the internet that tells you to send money to some person, so I understand that concern well.
But the presentation of this competition seems to be a rather normal one. Sure there are lots of English errors, but something like that is frequent. "Guitaristic" may not be a standard English term, but it's a very logical way to build an adjective out of guitar. And they just didn't know that "opera" in English doesn't mean any piece as it does in Italian.
It's pretty usual not to require a recording. Most competitions only require the score.
I don't see anything wrong with the website of Alessio Monti, or the fact that there are three planned concerts in Bangkok, New York and Oslo either: Maybe Mr. Monti is going to have concerts himself in these cities and plans to include the winning composition in these concerts. Just a possible guess.
Now, after all of this, I still do not disagree with you about staying sceptical. I just don't think that overly unprofessional presentation of the competition should be the reason for it, since it seems pretty standard.
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