2.1.13 Companies in the private sector typically form consortiums, also known as Special Purpose Vehicles (SPV), to bid for the Design-Build-Finance-Operate contract. Usually, the SPV is formed from a joint venture between an experienced construction contractor and a facilities management or service operations company capable of running and maintaining the asset. Other contractors required to deliver other outputs specified in the contract will also join the SPV. The SPV will produce a bid which takes into account the whole-of-life cost of the asset, incorporates the proper level of repairs and maintenance, and reflects the cost of the services provided, and the cost of private finance. Competition between bidding consortiums during the procurement process to select the PPP provider helps to ensure value for money.