[1.1.1]

1.1.1 In July 1999 the first edition of Standardisation of PFI Contracts ("SoPC") was published. The aim was to provide guidance on the key issues that arise in PFI projects in order to promote the achievement of commercially balanced Contracts, and enable public sector procurers to meet their requirements and deliver best value for money. Second and third editions have followed in September 2002, and April 2004, together with an Addendum in December 2005. Version 4 was published in March 2007 which incorporated the changes and derogations contained in the Addendum and updated the guidance to take into account new legislation and developments in the PFI market. Version 4 also provides new guidance on certain matters identified in HM Treasury's ("HMT") March 2006 document entitled "PFI: Strengthening Long-Term Partnerships".1

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1 See HMT web site at www.hm-treasury.gov.uk