A public sector body which lets a PFI contract. This may be a government department, an agency of a department or, in the case of the health sector, a National Health Service trust. | |
The process by which the contractor compares either its own costs or the cost of its sub- contractors providing services against the market costs of such services. | |
System of joint working and responsibility for running the contract. | |
The re-tendering on the market of services to test the value for money of that service. | |
A description of arrangements whereby part or all of a contractor's financial records for a project can be seen by the authority. | |
The process of changing the financial structure of the contractor or the terms on which the contractor has obtained finance. Refinancing may be possible where the risk of a project has reduced due to, for example, the construction phase of a project being successfully completed. | |
A risk that there will be a major failure in the service delivery affecting the whole of the business operation which will need to be remedied quickly to ensure that the users of the service continue to receive the required service. |