3.2.45 A signed contract between the GPE and the selected PPP provider is mandatory for every PPP project. The contract must identify clearly the following:
a) risk allocations and responsibilities of the GPE and the PPP provider;
b) financial terms of the contract; and
c) agreed upon performance standards, target dates (milestones), deliverables and options for terminating the contract.
3.2.46 The GPE should allow the PPP provider to finalise all third party agreements (for example with banks, sub-contractors, etc.) within a reasonable timeframe, and to obtain the necessary permits from the relevant authorities. As a guide, GPEs can consider giving the PPP provider as a guide about 3 months, to reach financial close.