1. SoPCNI 3 is based on Standardisation of PFI Contracts Version 4 published by HM Treasury in March 2007 ("SoPC4") and applies to all PFI Contracts in Northern Ireland. PFI is not suitable for projects with a capital value of less than £20 million, nor should it be used for IT projects.
2. As stated above, all PFI projects still in competitive procurement (i.e. where final bids have not yet been received or the competitive dialogue not yet been closed on or before January 2009 must comply with SoPCNI 3.
3. It should be noted that as the terms PFI and PPP are often used as synonyms that whether a project is badged as a PFI or PPP is not important. The key is whether it has the characteristics of a PFI transaction. Examples of the characteristics of a PFI transaction are that, although they tend to involve some form of construction or supply of assets, the project is almost always one for the supply of services and payment is made over a period of years by way of a unitary charge for those services. If there is any doubt as to whether a project has PFI characteristics or not, advice should be sought from SIB.