Client: Incendium & Department for Work and Pensions (DWP)
Services: PFI/PPP Expiry, Handback and Statutory Compliance
Location: Nation Wide
The PRIME contract was an £13.3bn, 20 year outsource contract consisting of over 800 buildings by the DWP to the private sector. The PRIME contract was held as one of the very first PFI contracts and provided a significant basis from which the PFI and PPP industry was built. At the end of the contract life the Opex team provided support for the Commercial close out of the contract ensuring the buildings were handed over in the condition envisaged by the contract.
The Opex team utilising technical specialist, external legal, and Queens Counsel carried out a detailed contract review including 20 years of side agreements to determine the contractual delivery standards and requirements that determined the handback conditions envisaged by the contract. The team procured surveys under government guidelines to survey the 800+ properties. Commercial disputes and negotiations were then carried out to a value of over £350mil.
The Opex team further provided the commercial and technical management associated with determining the level of Statutory Compliance across the portfolio. Managing the specialist technical expertise across all Statutory Requirements, the team identified and developed the technical-commercial arguments to ensure each site was handed back compliant with the law.
To visit the DWP website click here.
If you would like to find out more about PFI/PPP Expiry please click here.
Image: Steven May