As part of the Third File preparation and draft Privatization contract, the Work Team shall prepare draft specifications for inclusion in the Third File.
As necessary, and in coordination with NCP, the Work Team may retain specialized technical, legal, financial and/or other transactional advisors to assist in preparation of appropriate specifications for a project.
The Work Team shall:
a) In the context of the Entity's program of development, strategy for achieving their mission within a sector, and policy objectives in light of Vision 2030, identify the desired Privatization project outcomes and convert them into draft specifications.
b) Clearly delineate in the draft specifications the private party's responsibility for performance and timing associated with those responsibilities.
c) Establish in the Privatization contract a clear and efficient system for monitoring performance and compliance with the specifications (for example, routine data and performance reporting, audits, non-compliance reporting, etc.).
d) Align input, output, and outcome data with the Entity's management systems, oversight tools and capacity such that performance can be effectively monitored and managed.
e) Link the payment mechanism(s) and positive and negative performance incentives with delivery of the specifications.
f) Structure how payment calculations, additions, and/or deductions will be applied based on compliance or noncompliance with the specifications.
g) Provide a system for prioritizing and rectifying noncompliant performance issues, and whether such action is to be taken by the private sector party, the Work Team, or others.
h) Outline procedures for changing the service requirements either at the public or private party's initiation, and periodically as needed over the life of the project.