The rest of this section will focus on the project agreement, which is the most crucial of all the PPP contracts, at least from the perspective of the LGUs. The project agreement may be denominated in a manner that best describes the project. The project agreement defines the relationship between the government and the PPP proponent, specifically the risks that they will share and the responsibilities that they will be tasked to perform. Sample contracts are presented in volume 3 of this manual.
Project agreements can be voluminous and filled with dense legal language. However, many sections are standard legal provisions. The key, therefore, to understanding project agreements is knowing what are standard provisions and what are key contract provisions or the "deal-makers".