5.23 One of the key tools in the Government's approach to procurement of PFI projects has been the development of standardised commercial contracts. In July 1999 the first edition of Standardisation of PFI Contracts was published. In July 2002, the Government launched a revised version of the standardised contracts. This revised guidance built on the experience and best practice gained in the application of the earlier PFI standardised contracts across a wide range of projects and reflected the results of a widespread consultation with both the public and private sectors.
5.24 The three main objectives of the Government's guidance on standardised contracts are:
• to reduce the period and costs of negotiation;
• to promote a common understanding of the main risks encountered in a standard PFI project; and
• to allow a consistency of approach and pricing across a range of similar projects without detracting from their ability to cater for specific needs.
5.25 This generic guidance has then been used as the basis for sector specific guidance in health, education, and defence.
5.26 The revised standardised contract is now being used widely across PFI projects. It has already helped to reduce the scope and time of negotiations. Partnerships UK operate a help desk for the Government, which provides support to both the public and private sectors on the implementation of standardised contracts.