1a A traditional partnership means sharing openly and transparently in the profits and/or losses of a business equally, without special advantage to either partner. In the case of London Underground, this principle has been applied to tackling major procurement challenges in a non- adversarial way. As attempted in this case, Departments and agencies should explore the scope for sharing risks and design how to share the rewards before entering detailed contract negotiations. If this appears feasible, the business proposition can then underpin the economic proposition by providing a detailed, but not necessarily complex, contract structure.
1b Good corporate governance calls for maximum transparency. Public sector bodies should insist that contracts include strong provisions for open book monitoring of both special purpose company and prime contractor performance. As in any partnership, there is scope for LUL and the Infracos to develop working relationships that improve on the contract arrangements.