Social infrastructure PPP projects in NSW are to adopt the suite of template contractual documentation (Template Project Documents) that has been developed by NSW Treasury in conjunction with its legal and financial advisers. The Template Project Documents, which include templates for the project deed, the financier's tripartite agreement, and other key project documents, will form the basis of contractual documentation to be released to bidders as part of the RFP documentation.
Where a Responsible Agency has a project-specific reason to deviate from provisions in the Template Project Documents, the Responsible Agency must seek the approval of NSW Treasury.
The Template Project Documents vary from or are in addition to the National PPP Guidelines in certain key respects, for example:
■ adjustment of the relief and compensation regimes to align with the delivery and operational stages of a Project
■ inclusion of a two stage completion process comprising technical completion and commercial acceptance
■ an ability of the State to pay down a portion of senior debt once the facility is operational
■ reduced 'asset-related' requirements
■ adjustments to the treatment of uninsurable risks
■ requirement to comply with relevant building codes, including the NSW Code and Guidelines for the Building and Construction Industry
■ provisions in relation to privacy, governance, community, health and safety.
Key areas of the Template Project Documents that will need to be adjusted for project specific requirements are the services specification, payment mechanism and the associated Key Performance Indicators (KPIs).