Partnerships Victoria has released the template standard form project deeds for linear infrastructure and social infrastructure (Standard Project Deeds). These Standard Project Deeds are to be used for availability-based public private partnerships (PPP) in Victoria.
The Standard Project Deeds are intended to provide a consistent risk allocation across projects, while recognising that project-specific amendments will be required.
The Standard Project Deeds are identical, other than where the nature of the infrastructure, i.e. social or linear infrastructure, requires a different approach. For example, the Standard Project Deed for Linear Infrastructure includes features to deal with the:
- possible application of the Major Transport Projects Facilitation Act 2009 (Vic)
- extensive project area
- likelihood of proximate site works and multiple interfaces.
The Standard Project Deeds form part of the Partnerships Victoria Framework. Partnerships Victoria also released the Contract Management Guide which sets out the principles for effective management of PPP projects.
The revised guidelines will be applied to all Victorian PPP projects and procurement processes effective March 2018.
The Standard Project Deed for Linear Infrastructure was first utilised by the market in the Outer Suburban Arterial Roads Project Western Package PPP (OSARs (Western) PPP), which reached financial close in December 2017.
Maddocks is well placed to assist you in advising on projects where the Standard Project Deeds are used by the procuring agency, having advised the successful D&C Contractor in the OSARs (Western) PPP.
Our team are happy to discuss our experiences with you and your specific requirements for major projects in Victoria.