Project Co (see also PFI Contractor or the Contractor) meaning

Abandon Describes a situation where the contractor halts performing the works for an extended, uninterrupted span of days (eg 20 business days) or for a greater aggregate of non-consecutive days (eg 60 business days) across the project’s duration or within a stated timeframe (eg 12 months), doing so wilfully and without justification at any stage of delivery or execution. Abandonment is ordinarily treated as a contractor default, enabling the Authority to terminate the Project Agreement and/or permitting Project Co to end the construction contract immediately for cause. Acceptance Tests Tests carried out to confirm whether the facility (or another project asset) achieves the standards required for the Authority to deem facility complete and accept it. Access Protocol The protocol that Project Co must follow in order to obtain access to the buildings forming part of the project at any time during the term. For instance, on a social housing scheme or a school, prerequisites would have to be satisfied by Project Co before...

Background to the Construction Sub-contract PFI structure—diagram sets out the basic structure of a PFI project This Practice Note considers the Construction Sub-contract linking Project Co with the Construction Sub-contractor (also known as the Construction Contractor) within a PFI or PF2 arrangement. In the 2018 Budget, presented on 29 October 2018, the government confirmed it would cease using PFI and PF2 for new schemes (see News Analysis: Budget 2018—what does it mean for infrastructure and housebuilding?). Nonetheless, live PFI and PF2 schemes will continue, and, given their usual duration, are expected to operate for many years... Where a project involves a built asset (as is commonly the case), a Construction Sub-contract (also termed the ‘Construction Contract’) is entered into between Project Co and the Construction Sub-contractor. Under it, the Construction Sub-contractor undertakes the construction stage of the project (the period when the assets are actually delivered), prepares it for handover to the public sector body, and for the subsequent maintenance phase...