(a) The Participants acknowledge and agree that it is the fundamental obligation of the Participants to demonstrate, ensure and deliver value for money in carrying out the Project and performing the Works.
(b) The Participants, to effectively demonstrate that value for money outcomes are and will be achieved under this Agreement, have agreed that the Project Owner may benchmark the performance of the Participants against the performance of other alliances delivering other works or projects similar to the Works and the Project or against the performance of similar projects.
(c) The Participants agree that, for the purposes of benchmarking the performance of the Participants, they will, in a manner consistent with the Alliance Charter, fully disclose all information relating to the actual outturn performance of all aspects of this Agreement, other than that which the ALT determines, in consultation with the Project Owner, is genuinely commercial in confidence or financially sensitive (Sensitive Information). Where the ALT determines, in consultation with the Project Owner, that information is Sensitive Information, the ALT will determine an acceptable and appropriate manner to mask and/or protect the commercial in confidence or financially sensitive nature of the Sensitive Information but will still be obliged to share the Sensitive Information for the purposes of benchmarking the actual outturn performance of all aspects of this Agreement.
(d) Nothing in clauses 15.12(a), 15.12(b) and 15.12(c) will oblige a Participant to make a disclosure of information where the ALT determines that to do so would, or could potentially, involve a breach of a Statutory Requirement, a breach of recognised best practice corporate governance guidelines or a Participant's existing confidentiality obligations.
(e) In the event that an ALT representative seeks to invoke and rely upon the exemption from disclosure set out in clause 15.12(d), the ALT representative must notify the other representatives of the ALT of:
(1) the nature of the information which the ALT representative intends not to disclose; and
(2) the genuine reasons for non-disclosure, and the ALT will determine whether the exemption from disclosure set out in clause 15.12(d) will apply to the information.