9  Benchmarking Process

9.1  Where this paragraph 9 applies, the Service Provider shall benchmark all installation, management and lifecycle costs (including professional fees, contingencies, overheads and profit margins) using benchmarks available from a reputable independent source that are generally recognised in the industry.

9.2  The Service Provider shall submit with the Service Provider Stage 2 Response a detailed Benchmarking Report which shall set out details of how the benchmarking exercise was carried out and providing evidence that the installation costs, operating costs and financing costs included in the Change in Project Costs are supported by actual input from a reputable independent source or the Comparable Market (as specified in the Authority Change Notice).  In particular, the Benchmarking Report shall include full supporting evidence of the assumptions, source of market price and information's and conclusions reached including:

(a)  the methodology and all assumptions by which the Estimated Change in Project Costs was determined;

(b)  assumptions made in respect of the Comparable Market;

(c)  full details of sources of the information used including evidence as to reputation and independence of such sources;

(d)  such other details as the parties may agree.