Document | Parties | Purpose |
Project deed or project agreement (may be named 'concession deed' or similar) | The core project contract and schedules, setting out the terms on which the private party provides the contracted services to the government party | |
Real property lease/licence (may be named 'ground lease' or similar) | Provides the private party with access to government party property on which project facilities are located | |
Construction contract | • Construction contractor | The document in which the private party's construction obligations under the project deed are subcontracted to the construction contractor |
Operating agreement (for a full service PPP) | • Operator | The document in which the private party's service delivery obligations under the project deed are subcontracted to the operator |
Facilities management agreement | • Facilities management contractor | The document in which the private party's facilities management obligations under the project deed are subcontracted to the facilities management contractor |
Loan agreement | • Lenders | The document in which the lenders provide debt finance to the private party |
Security documents | • Lenders | Documents providing the lenders with security for the debt finance provided to the private party |
Completion guarantee | • Sponsors • Lenders | Guarantees the completion of construction of the facility |
State security agreement | Provides the government party with security to support the exercise of step-in rights | |
Finance direct deed (also known as a tripartite agreement) | • Lenders | Regulates the exercise of cure rights and step-in rights by the lenders and the government party |
Subscription agreement (may be known as a 'shareholders' agreement' or similar) | • Sponsors/private party's parent company | The document in which the sponsors or the private party's parent company provide equity finance to the private party |
Insurance policies | • Insurers | Policies insuring the private party against specified risks |
Management services agreement (if applicable) | • Management services contractor | The document in which the private party subcontracts its project management obligations |