Limited Alterations to "Standardisation of PFI Contracts" arising from HM Treasury consultation.
Following consultation with various public and private sector bodies, HM Treasury has decided to make a small number of changes to "Standardisation of PFI Contracts" ("SoPC").
The changes relate to: Contractor default and retendering election; replacement of sub-contractors; Permitted Borrowing; Refinancing (definition of "Qualifying Bank" and "Exempt Refinancing"); payment by instalments; and unavailability of third party liability cover.
They will be published and sent to subscribers to SoPC in due course, but in the meantime they are detailed in the attached letter which has been sent to heads of PFU's, the Project Review Group, the NAO, PUK, 4ps and the CEO's of local authorities.
Please refer any queries to either Simon Moore or Sian Dunstan at PUK - Tel: 0207 273 8383.
The "Standardisation of PFI Contracts: Amendments" document is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.
For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Media links
- PDF file of the Standardisation of PFI Contracts: Amendments
- Word file of the Standardisation of PFI Contracts: Amendments