PREFERRED BIDDER DEBT FUNDING
COMPETITIONS
Draft outline guidance for feedback
The purpose of this outline guidance is to introduce best practice in running privately led but publicly overseen Debt Funding Competitions after the selection of a Preferred Bidder for PFI projects. We refer to this process throughout this guidance as PBDFC.
The effective implementation of PBDFC is now being evaluated on pilot projects supported by Departmental PFUs. It is planned to develop and issue detailed guidance informed by experiences on these projects and from feedback from the stakeholders in this process (procuring Authorities, Departmental Private Finance Unit (PFUs) and PFI practitioners) on their experiences in applying this guidance. Until the detailed guidance is issued, Authorities should treat this draft outline guidance as best practice. Detailed guidance will also be subject to a feedback process in due course.
This guidance replaces the guidance dated 31st July 2002 "OGC Guidance on certain financing issues in PFI contracts - ensuring competition in the financing of contracts".
HM Treasury
1st August 2006