2.1 The purpose of this Schedule Part 6 (New Project Pricing Report) is to set out how hubco and the Relevant Participant(s) will work together to ensure that the Pricing Report to be produced in respect of each stage of the New Project Approval Process for each New Project provides Relevant Participants with robust, transparent, auditable information as to the costs, fees and prices included within hubco's proposals for such New Project, to assist the Relevant Participant(s) in making informed choices as to the best available value for money solution for their specified needs.
2.2 In considering comparable projects to produce relevant benchmarking information and in determining adjustments to be made to Comparators, account shall be taken of inflation:
2.2.1 in respect of the Pricing Data, in accordance with:
(a) Section 4 (Partnering Services Costs Rates) of Schedule Part 3 (Partnering Services) in respect of those elements of the project calculated by reference to the rates specified in said Section 4; and
(b) for all other elements of the project, the terms of Appendix 1 (Pricing Data) to Schedule Part 4 (Partnering Services Costs); and
2.2.2 for all other benchmark projects, in respect of construction (and where appropriate, property) prices by reference to MIPS or BCIS TPI (as agreed from time to time with the Relevant Participant(s)) and such other appropriate indices as may be agreed between the TPB and hubco since the date of the comparison data.
2.3 The proper costs of hubco reasonably incurred in meeting its obligations under this Schedule Part 6 (New Project Pricing Report) are Partnering Services Costs and shall be recovered in accordance with and subject to paragraph 1 of Schedule Part 4 (Partnering Services Costs).