STANDARDISATION OF PFI CONTRACTS - 3RD EDITION PUBLISHED

29 Apr 2004 02:45 PM

The Treasury is today publishing an updated version of the guidance on the Standardisation of PFI Contracts (SoPC 3). This is the 3rd edition of this key text. Its publication represents important progress towards greater standardisation across the PFI market.

The letter sets out how SoPC 3 will be rigorously enforced, spreading best practice and further improving PFI procurement across the public sector. This process will help achieve further reductions in the length and cost of the procurement process, delivering greater Value for Money for the tax-payer.

SoPC 3 can be downloaded from the HM Treasury website at: www.hm-treasury.gov.uk/sopc

NOTES TO EDITORS

1. Standardisation of PFI Contracts (SoPC) includes guidance on drafting PFI contracts and standard clauses which need to be included within them. The first edition of SoPC was published in July 1999 and it was updated in September 2002.

2. Practitioners will need to be aware that SoPC will no longer be published through Butterworths; it is available through the Treasury website at www.hm-treasury.gov.uk/sopc