Well-configured PPP projects are manifestations of complete and concise contracts. The complete and concise PPP contract reflects a financial transaction and not just an engineering endeavor, and a structure for risk and reward sharing, such that:
● It provides for lenders' requirements;
● It considers profitability and bankability of the project;
● It provides for risk sharing arrangements, mitigation and recourse; thus relatedly, it identifies the parameters of government support; and
● It reflects appropriate project structure, e.g., "bundled" or "unbundled" components to improve viability of the project.