Public sector authority | |
Document providing information on the processes and procedures for managing the operation of the contract; including responsibilities and timescales | |
Entity contracted to construct and operate the asset | |
The point at which documentation has been executed, conditions precedent have been satisfied or waived and drawdowns become permissible | |
The document submitted for approval to fund the project, which is required before Commercial and Financial Close of the contract | |
Operation, maintenance, and security of a facility, usually by an external contractor | |
Part of the governance process. These reviews are designed to ensure examination and scrutiny of the project at critical stages of its life cycle (e.g. pre OJEU and pre Financial Close) to provide assurance that it can progress to the next stage, similar to a Gateway Review | |
Business Case which sets out in detail the scope, costs, affordability, risks, procurement route and timetable of the project such that it can be approved by the appropriate body/committee | |
Non-Profit Distributing delivery vehicle which has no equity holders, returns are distributed for the benefit of the wider community instead of to shareholders | |
The contractual procedure for calculating the service fee due to the supplier for the outputs | |
Public Private Partnership formed between the private sector and public bodies often with the aim of introducing private sector resources and/or expertise in order to help provide and deliver public-sector assets and services. The concept of PPP embraces many forms of partnership including NPD | |
The bidder which achieves the best negotiating position through the competitive dialogue procedure | |
Document outlining the scope of a project including the deliverables, the functions, tools to be used, service level agreements | |
Document containing various Protocols, lets management, malicious damage, utilities etc | |
Any event that has an effect on the cost of performing the Services, or the date of their completion, including the occurrence of risks both foreseen and unforeseen | |
Elements of the design which cannot be fixed during the initial bid development stage | |
Availability of the specific project facility in line with the requirements of the project agreement | |
Guidance documentation and approved drafting produced by PUK on behalf of HM Treasury, which sets out UK standards for PFI contracts. The fourth edition (SoPC4) was updated in March 2007 and the principles are binding on all PPP funded projects | |
Transfer of Undertakings (Protection of Employment) Regulations 1981 | |
VfM is the optimum combination of whole-life costs and quality (or fitness for purpose) of the good or service to meet the users requirements. VfM is not the choice of goods and services based on the lowest cost bid | |
A breach during the works period by the Authority of any of its obligations under the Project Agreement |