2.25.6  Final Acceptance (clause 25)

A Final Acceptance regime will be used on every PPP Project and occurs when the Remaining Works and Returned Asset Outstanding Works have been completed.

The Independent Reviewer certifies whether or not Final Acceptance has been achieved. A Certificate of Final Acceptance will be final and binding on the parties other than in the case of manifest error. The issue of the Certificate of Final Acceptance does not constitute evidence that Project Co has satisfied the FFP Warranties, approval by the State of the completion or acceptance of the Works or evidence that all or any other obligations under the Project Deed have been satisfied.

If Project Co does not achieve Final Acceptance by the required Date for Final Acceptance, the State is entitled to retain the amount equal to 120 per cent of the cost of the work remaining to be completed to achieve Final Acceptance from the Service Payments.

The State may then elect to direct the Independent Reviewer to issue a Certificate of Final Acceptance and to accept or complete the Final Acceptance Works itself. In those circumstances, Project Co is required to pay the State the greater of the costs saved by Project Co in not completing the works required to achieve Final Acceptance and the costs that will be incurred by the State in undertaking those works itself as determined by the Independent Reviewer.