| Term | Meaning |
| Deductions to the Service Payment for unavailability of the asset or poor performance |
| A PPP project where the government pays the private party a Service Payment for the availability of an asset. The Service Payment also covers the provision of ongoing maintenance and operational services to the asset for the duration of the PPP contract. Typically, the private party will be responsible for designing, building, financing, maintaining and operating the asset. |
| A model developed and maintained by Treasury's ISFU to reflect the accounting treatment of the Availability PPP |
| The period of time during which the asset is built |
| The final step in the procurement process when all conditions precedent have been met, all contracts are signed and the financing for the project is locked in |
| A performance requirement set to define the level of service the SPV is required to adhere to in accordance with the PPP contract |
| The period of time during which the completed asset is operated by the SPV |
| A contract entered into between Government and a private sector party for the provision of assets and/or services. |
| All General Government agencies and Public Trading Enterprises |
| The monthly or quarterly payment made to the SPV for making the facility available and providing the required services |
| An entity created for the sole purpose of delivering the asset and services that are the subject of the PPP |