- Intermediate/Introductory *5 hours CPD
PFI is a unique area of law, combining public sector issues such as procurement with traditional banking, construction and property elements. It is impossible to practice in this area successfully without a full understanding of how PFI began and how it has evolved since, as well as the guiding principles behind it. The course will cover:
- What is PFI – what is PPP – what is the difference between them?
- The history of PFI from 1992 until today, including the early problems with vires, the formation of Partnerships UK, the development of standard clauses and the current Government approach
- The main principles of PFI: value for money, risk transfer, performance incentivisation, private sector innovation, output not input based
- The steps involved in a PFI project, including a translation of all the commonly-used jargon
- The documentation involved in a PFI project, including the Concession Contract, Lenders Direct Agreement, Sub-Contracts, etc.
- An in-depth guide to the most important areas of the Concession Contract, including the Payment Mechanism and Key Performance Indicators
- Particular property issues
- Particular construction issues