In exercising their rights and performing their obligations under this Agreement, the Participants agree at all times to act in Good Faith.
Guidance Note - The Participants' commitment to acting in Good Faith is the overriding commitment made by the Participants to each other when entering into the Agreement (as set out in this clause 4.1). In a general sense, acting in Good Faith encompasses the Participants acting fairly and reasonably, openly and honestly and with integrity with and toward each other in everything they do under the Agreement and doing all things necessary to give effect to the intent of the Agreement. In respect of fairness and reasonableness, the Participants must make "Best For Project" (rather than "best for self") decisions with the aim of producing outcomes where all Participants will win equally or lose equally, based on the objectives of the Project (e.g. the materials required for the Works must be purchased on a cost and quality basis only). In respect of openness, honesty and integrity, the Participants must have a "communication culture" and be transparent in all of their dealings with each other and as to their corporate objectives in respect of the Project, share all information and not hold back ideas. Finally, each of the Participants must formally commit to the spirit and intent of the Agreement, do all things to carry out the Project and achieve its objectives (including achieving the Project Owner's State VFM proposition) and not use the words of the Agreement to attempt to absolve itself of responsibility and in a manner which is "best for self". The NOPs' commitment to acting in Good Faith is also demonstrated by ensuring that their nominated NOP team members are made available to the Project, for the duration of the Project, as per their Proposal. |