| SoPC Section (or Clause) | Nature of Revision | Description of Revision | Drafting Change (shown in bold) |
| 32 (and related | New and updated provisions | This Section is updated to take account of the competitive dialogue procedure and in particular: • Section 32.1 (EU Procurement Law) is new • Section 32.2 (Ensuring Commitment) is updated and • the Commitment Letter in Section 32.3 has minor changes (some deletions and some additions) so as to read as set out opposite.
At the end of paragraph 3, the words "so that the only issues which will require negotiation between now and contract signature are matters of detail which are project specific and which remain to be agreed" from SoPCNI 2 have been omitted. Square brackets have been omitted from paragraph 5 of the Commitment Letter. | Commitment Letter Following our letter to you of [ ] [and our subsequent conversations] I am writing to you to set out the position which has now been agreed between us. Subject to receiving confirmation from you [and [LENDER]] and [Sub-Contractors] on the points addressed in this letter, the decision has been taken by the Authority to appoint [BIDDER] as its selected bidder. 1. The Unitary Charge set out within your bid is fixed by reference to your design and services proposals and on the assumption that financial close occurs on or before [•] ("Expected Date of Financial Close"). If financial close occurs after that date then your construction price will be increased only by movements in the [•] index from (but excluding) the Expected Date of Financial Close up to (but including) [•] and thereafter increased in accordance with your proposal included in [REFERENCE] of your Bid submission of [DATE]. The Authority will take the risk of any movement in [LIBOR][applicable interest rates] [relevant index] between [DATE OF BID SUBMISSION] and financial close. The benefit of any reduction in [LIBOR] [applicable interest rates] [relevant index] including the buffer) will be passed in full to the Authority. 2. (a) Subject to paragraph (b) below the Unitary Charges set out within your bid as representing the price payable for taking out and maintaining the [Required Insurances] as that term is used in the draft contract terms ("Insurance Costs") is fixed up to and including the Expected Date of Financial Close. From but excluding the date of Expected Financial Close Insurance Costs may be increased but only to the extent required as a consequence of any increase in the sum insured following any increase in the construction price allowed in accordance with paragraph 1 above. Any adjustment will be at the following rate [Bidder to specify]. (b) Insurance Costs may also be revised if (i) any risk to be insured under the Required Insurances becomes Uninsurable (as such terms are used in the draft Contract terms). 3 . As regards the draft Contract terms, we are pleased that, [subject to the points of clarification and confirmation specified at paragraph 4 below], you have confirmed your acceptance to these terms. Again, we would ask for your confirmation by way of countersignature of this letter that, subject to the points of clarification and confirmation specified at paragraph 4 below, you have accepted the draft Project Contract [refer to version and date] [and [refer to other relevant project documents]] as issued to you. 4 . The points of clarification and confirmation that remain are set out below: 5 . As regards the draft payment mechanism, we would ask you to confirm, again by counter signature of this letter, that you have accepted the current draft in its entirety [subject only to any points specified at paragraph 4 above]. |