It is well known that the risk assumed by both Building and FM Contractors under the government’s PFI are considerably more onerous than that under more conventional routes of procurement. It is therefore critical that those contractors involved in such projects take expert advice to ensure that they fully understand the risks to which they are exposed and do not assume any unintended risks.
It is also important for PFI Contractors to consider the extent to which they wish to pass risk down the supply chain as invariably standard forms of subcontracts do not do this without substantial amendment.
The team at Silver Shemmings have significant exposure to PFI and experience of negotiating both Construction and FM Contracts with the SPV and also of preparing suites of contracts for use with the supply chain. They also have experience of advising on the array of documents ancillary to PFI arrangements.
Work undertaken by Silver Shemmings includes:
- PFI Contracts with the SPV
- PFI Contracts with the supply chain
- Interface/Co-operation Agreements
- Direct Agreements & Collateral Warranties
- Performance Bonds
- Parent Company Guarantees
- Parallel Loan Agreements
- Operational Disputes
For more information and initial advice please contact us.