Abstract
In its ordinary form, the term “PPP contract” usually comprises a suite of contracts. These contracts come in various forms and contract terms vary depending on the nature of the PPP project and the medium used to deliver the project. It is, however, difficult to discuss every single conceivable type of contract that could be entered into between the different sets of parties during the course of the project. This is because the number and nature of the contracts depend on the type of PPP project and the way it is structured. However, this chapter discusses some of the more important contractual agreements. A discussion on the contractual structure of PPP projects is also significant because contractual clauses are the basic instruments for the transfer and mitigation of risks in PPPs. This chapter will therefore look at how some of the basic project risks can be allocated and mitigated contractually.
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Notes
- 1.
Timothy Murphy (2008) “The Case for Public-Private Partnerships in Infrastructure”, Canadian Public Administration, 51(1): 99–126.; M.R. Berg “Revisiting the Strengths and Limitations of Regulatory Contracts in Infrastructure Industries”, PURC Working Paper No. 14, University of Florida, Glanville, cited in R. Marques and S. Berg (2011) “Risk, Contracts and Private Sector Participation in Infrastructure”, Journal of Construction Engineering and Management, 137(11): 925–932.
- 2.
Ibid.
- 3.
Jeff Zitron (2006) “Public-Private Partnership Projects: Towards a Model of Contractor Bidding Decision-Making”,Journal of Purchasing and Supply Management, 12(2): 53–62.
- 4.
Darinka Asenova (2010) Risk Management in Private Finance Initiative Projects: The Role of Financial Services Providers, Saarbrucken: Lambert Academic Publishing.p. 45.
- 5.
R. Marques and S. Berg (2011).
- 6.
World Bank (2007) “Contract Design in Public Private Partnerships”, A report prepared for the World Bank by Elisabeth Iossa, Giancarlo Spagnolo and Mercedes Velez, (online), available at: http://www.gianca.org/PapersHomepage/Contract%20Design.pdf (last accessed 25 March 2012).
- 7.
If it becomes a penalty provision, the courts will not enforce it. See Dunlop Pneumatic Tyre Co Ltd. v New Garage and Motor Co. Ltd. [1975] A.C. 79.
- 8.
Yongjian Ke (2010) ‘Preferred Risk Allocation in China’s Public Private Partnership (PPP) Projects’, International Journal of Project Management, 28:482–492.
- 9.
World Bank (2007).
- 10.
Sudong Ye and Robert Tiong (2003) “Effects of Tariff Design in Risk Management of Privately Financed Infrastructure Projects”, Journal of Construction Engineering Management, 129(6): 610–618.
- 11.
Ibid.
- 12.
ShouQing Wang and Yongjian Ke (2009) “Case Study of Labin B. Power Project- The First State Approved Power Project in China in Public-Private Partnership in Infrastructure Development”, Case Studies from Asia and Europe, Bauhaus Universitat Weimar, (online), available at http://e-pub.uni-weimar.de/volltexte/2009/ (last accessed 28 March 2012).
- 13.
Ibid.
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Nwangwu, G. (2016). Contractual Structure for PPP Projects. In: Public Private Partnerships in Nigeria. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-54242-7_4
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DOI: https://doi.org/10.1057/978-1-137-54242-7_4
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