An analytical tool that allows the user to assess the financial robustness of the project by representing its expected financial performance, including cash flows and returns. Not to be confused with a financial proposal.
Market sounding and/or assessment
A procedure that assesses potential interest from financiers and contractors, providing insight into the likely level of market interest and providing the procuring authority with an opportunity to adjust the project scope if necessary to ensure private sector participation and improve competition.
Material Adverse Government Action
Any act or omission by the procuring authority or other relevant authority that occurs during the term of the public-private partnership (PPP) contract and that has a material adverse effect on the ability of the private partner to comply with any of its material obligations under this PPP contract and/or the cost or the profits arising from such performance.
Public-private partnership (PPP)
Any contractual arrangement between a public entity or authority and a private entity for providing a public asset or service, in which the private party bears significant risk and management responsibility. For the purposes of this survey, this definition applies irrespective of the terminology used in the particular country or jurisdiction.
Any public entity that engages in public procurement in accord with the national or local procurement regulatory framework.
Specialized government entity or team that is responsible for facilitating the PPP program.
Encompasses all laws, regulations, policies, binding guidelines or instructions, standard PPP contracts, other legal texts of general application, judicial decisions, and administrative rulings governing or setting precedent in connection with PPPs. In this context, the term "policies" refers to other government-issued documents that are binding to all stakeholders, enforced in similar ways to laws and regulations, and provide detailed instructions for the implementation of PPPs. It should not be confused with policy in the sense of a government's statement of intent to use PPPs as a course of action to deliver public services. The "regulatory framework" includes but is not limited to those laws, regulations, policies, and the like dealing with PPPs (procurement of PPPs may be governed by the general procurement framework).
A company specifically formed to undertake a specific project (in this case the PPP project), also known as a special purpose vehicle (SPV), special purpose company (SPC), or special purpose entity (SPE).
Proposal made by a private party to undertake a PPP project, submitted at the initiative of the private firm, rather than in response to a request from the government.