• Changing external advisors at key moments may create additional risks to a project.
• A strong relationship between the Procuring Authority, the Project Company and other key stakeholders can help to mitigate the potential impacts of new issues.
• Resourcing is required to manage all relevant stakeholders, particularly where there are complex interfaces between multiple parties.
• Risks related to third parties with which the Project Company does not have a direct agreement will typically be retained by the Procuring Authority, which means it will have to manage those third parties.
• Where Procuring Authorities can share in a potential refinancing gain with the Project Company, they should be mindful of potential opportunities in the financial markets as they may lead to substantial benefits for the Procuring Authority.
• Variation provisions in PPP contracts should be workable and not overly complex. There are also times when the Procuring Authority should adopt a flexible approach to facilitate delivery of the broader benefits of the project.