1.2.1 The three main objectives of this guidance remain unchanged. First, to promote a common understanding of the main risks which are encountered in a standard PFI project; secondly, to allow consistency of approach and pricing across a range of similar projects; and thirdly, to reduce the time and costs of negotiation by enabling all parties concerned to agree a range of areas that can follow a standard approach without extended negotiations.
1.2.2 The main purpose of having a separate guidance document for Northern Ireland is to address specifically the issues that have arisen in PFI deals in Northern Ireland such as the impact of equality legislation and the issue of insuring against terrorism.
1.2.3 SoPCNI 3 reflects SoPC4 which, apart from cross-referencing changes and clarification, has only been amended where Northern Ireland specific issues or legislation require it. Annex 2 sets out those provisions of SoPCNI 3 which differ from SoPC4 by incorporating or addressing Northern Ireland specific issues or legislation.