In this guidance the public sector party buying the Service is referred to as the "Authority" and its counterpart as the "Contractor". The overall scheme is referred to as the "Project" and the agreement entered into between the Authority and the Contractor is referred to as the "Contract". When all those with a financial stake in the Project are referred to, the expression "financiers" is used. The term "financing" refers to all types of financial interest in the Project.
Bond Finance definitions are not included here so as to avoid confusion (as terms used elsewhere in the guidance in several instances differ from the definitions used in the Bond Finance chapter).
There are, in addition, some specific terms defined in the Funders' Direct Agreement (Chapter 26) which are not included here.
The following is required drafting for an interpretation clause in the Contract:
Interpretation
(a) In this Contract, except where the context otherwise requires:14
(i) the masculine includes the feminine and vice-versa;
(ii) the singular includes the plural and vice-versa;
(iii) a reference in this Contract to any Clause, Sub-Clause, paragraph, Schedule or Annex is, except where it is expressly stated to the contrary, a reference to such Clause, Sub-Clause, paragraph, Schedule or Annex of this Contract;
(iv) save where otherwise provided in this Contract, any reference to this Contract or to any other document shall include any permitted variation, amendment, or supplement to such document;15
(v) any reference to any enactment, order, regulation or other similar instrument shall be construed as a reference to the enactment, order, regulation or instrument (including any EU instrument) as amended, replaced, consolidated or re-enacted;
(vi) references to any documents being "in the agreed form" means such documents have been initialled by or on behalf of each of the parties for the purpose of identification;
(vii) a reference to a person includes firms, partnerships and corporations and their successors and permitted assignees or transferees; and
(viii) headings are for convenience of reference only.
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14 This clause may be extended as appropriate (e.g. to deal with the meaning of "day" and"month").
15 The Authority may wish to limit the Contractor's ability to make material changes to Project Documents. See Chapter 12 (Changes to Documents).