1.2.1 The main objectives of this guidance are:
• firstly, to build on "A New Approach To Public Private Partnerships" setting out the approach to be taken to structuring PF2 contracts, allocating risks between the public and private sector parties and promoting a common understanding of the new model in the market;
• second, to provide detailed drafting provisions to be incorporated into PF2 contracts either on a "required" basis (where the exact wording should be used), or on a "recommended" basis (where the drafting should be used as a basis for adaptation to different sectors);
• third, to fill in some of the gaps in contract standardisation, in particular providing a new standard form services output template, a pro forma payment mechanism, and new PPP shareholder arrangements,1 and
• last, to reduce the time and costs of procurement by enabling all parties concerned to agree a range of areas that can follow a standard approach without extended negotiations.
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1 To be published for consultation