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ARTICLE · 13 DECEMBER 2007

Schools Standard Form Project Agreement Re-Issued

CMS Cameron McKenna Nabarro Olswang
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Partnerships for Schools ("PfS") has today published its revised standard form PFI Project Agreement. The re-issue, which is part of an overhaul of the entire suite of Building Schools for the Future ("BSF") documents, represents a major step forward in the evolution of BSF procurement.

United KingdomFinance and Banking
Paul Smith
Paul Smith
Susan Booth
Susan Booth

Partnerships for Schools ("PfS") has today published its revised standard form PFI Project Agreement. The re-issue, which is part of an overhaul of the entire suite of Building Schools for the Future ("BSF") documents, represents a major step forward in the evolution of BSF procurement.  The Management Services Agreement was published in August, and the remainder of the suite will follow over the coming months.

This review (the last one was in March 2006) of the Project Agreement takes into account the issue of HM Treasury's Standardisation of PFI Contracts, version 4 ("SoPC4") and relevant legislative and guidance changes (CDM, TUPE).  The review also considered amendments made on all closed BSF deals, along with many currently in procurement.  The result is an updated and improved document, which also contains those amendments commonly made or requested in the market.  The result should be fewer derogations being requested by bidders.

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