26
A Guidebook on Public-Private Partnership in Infrastructure
Usually, the lead firm under contract with the implementing agency makes the
services of the consultants available to the team as required.
The transaction advisor undertakes detailed works related to technical,
financial and legal aspects of a PPP project as required by the implementing agency.
It may be engaged to:
• Conduct a feasibility study that may satisfy the requirements of the
implementing agency and approving authorities
as well as potential
financiers;
• Draft a contract document;
• Prepare necessary bidding documents and assist in bid evaluation;
• Assist the implementing agency in contract negotiation and completion;
and
• Provide support to contract management.
The implementing agency prepares detailed terms of reference (TOR) for the
transaction advisor which clearly mention the scope
of work and services required,
and deliverables and their timeframes. The TOR, among other things, may also
include:
• Competencies and experience of the transaction advisor;
• Remuneration;
• Management of the advisor by
the implementing agency;
• The process and rules of bidding and bid submission requirements;
• Background documents required to be submitted with bid submissions;
and
• Bid evaluation, selection and approval procedure.
The TOR may or may not mention the budget for
engaging the transaction
advisor. There are, however, implications in both situations.
The prepared TOR as well as the selected transaction advisor after the
bidding process may need to be endorsed by the implementing agency or by some
other competent authority in accordance with the public procurement laws/rules of
the country.
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