4.  [PERFORMANCE STANDARD BENCHMARKING

4.1.  Not less than [three (3)] Months before each [Best Value Review Date] [Annual Services Report Date] the Authority shall instigate a Performance Standard Benchmarking Exercise in relation to the [Performance Standard numbered [x] in the Service Requirements and Payment Mechanism] and thereafter the following provisions of this paragraph 5 (Performance Standard Benchmarking) of Schedule 15 (Best Value and Continuous Improvement) shall apply.

4.2.  The Parties agree that any Performance Standard Benchmarking Exercise shall be carried out in good faith and each Party shall act reasonably in relation to any such Performance Standard Benchmarking Exercise.

4.3.  The Performance Standard Benchmarking Exercise shall be carried out by the Authority at its own cost.

4.4.  The purpose of the Performance Standard Benchmarking Exercise shall be to undertake an objective comparison as at the [Best Value Review Date] [Annual Services Report Date] of the relevant [Performance Standard] in relation to the Services with the attainment of the [Performance Standard] in relation to the same or a similar Services by [comparator group].

4.5.  If, in the Authority's reasonable opinion, the results of the Performance Standard Benchmarking Exercise disclose the [Performance Standard] may be improved having regard to the Best Value Duty then the Authority may serve a Best Value Services Change Notice upon the Contractor stating the nature of the change to the [Performance Standard] which the Authority desires.

4.6.  The [Performance Standard] will be adjusted as at [insert date] to reflect the results of the Performance Standard Benchmarking Exercise.]61]

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61  Authorities should consider whether paragraph 5 is likely to be applicable having regard to the Project.  Its application is likely to be limited given the nature of the performance standards.