3.3 Provided that the risk of both favourable and adverse movements in interest rates has been properly priced in competition in the original contract and is borne fully by the private sector, then it is reasonable that the private sector should receive the full benefit, or adverse consequences, of subsequent interest rate movements. This is a normal business risk which the private sector is used to managing. If, however, it is clear that the public sector is paying too much for the transfer of this risk, or if the payment mechanism does not transfer this risk fully to the private sector, then it is reasonable for the public sector to negotiate a share of refinancing benefits arising from favourable interest rate movements.