The financing documents that govern the relationship between the private party and its financiers will be put in place at financial close. Although government will not be a party to those documents, it is important for government to conduct due diligence over the financing documents in order to obtain a clear understanding of the constraints and protection mechanisms being established. Government needs to know, for example, how the private party proposes to finance delivery of the service, how much the finance will cost at the various stages of the project, what constraints the financiers are placing on the operations of the private party and what costs and procedures will apply if the project agreement is terminated early.