Mim Standard Form Project Agreement

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On 5 September 2017, the Welsh Government published advance information on the rehabilitation of sections 5 and 6 of the A465 to be obtained under the MIM. As noted above, it plans to issue a notice on the plan in the second quarter of 2018. In the meantime, it will participate in the market to inform about the scoping, approach and content of the contract award for this project. After a few false starts, it seems that Wales` ambitious plans to develop infrastructure projects on the MIM model are finally coming to fruition. The project agreement for road projects includes a sectoral preparation that sets it apart from the project project agreement for accommodation programmes. Some of these editorial differences refer only to terminology (for example. B refers to a “use authorization” which is a typical terminology in road projects) and others relate to road-specific responsibilities, such as the inclusion of projects that specify when the roads concerned should be open for public use. In general, the models are relatively similar, although there are some differences in risk allocation in the detailed formulation. In addition, on Industry Day, it was indicated that the question of whether the operational and maintenance role of the A465 project would cover only sections of the road built under the MIM contract or capitalized sections had not yet been decided. www.gov.uk/government/publications/promoting-tax-compliance-and-procurement-procurement-policy-information-note At the same time, it has also released its standard version of the MIM contract for accommodation projects, as it also intends to use the MIM approach for the Velindre Cancer Centre in Cardiff and for Volume B of the 21st Century Schools programme. The MIM investment model includes the public sector as a co-investor and co-owner of up to 20% of each project delivery company. The MIM contract contains a number of interesting developments, some of which may be new to bidders in the motorway sector. Bidders and their lenders should carefully check the new form with their advisors to ensure that they fully understand the risks they must take.

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