This article, by K&L Gates London partner Christopher G. Causer, appears in the April 2007 edition of RICS Construction Journal. It explains the "ins and outs" associated with PFIs and presents arguments for making the whole process easier, and more accessible, for all parties.
PFI has its detractors and it is sometimes difficult to draw out any clear principles from the mass of claims, counterclaims and innuendo appearing in the press – and even in academic journals. But there is one undeniable fact: as a procurement method, PFI is complex and requires a high level of intervention from external legal advisors. It is hard to envisage a PFI project reaching contractual close without at least three sets of lawyers working on it.
So how has the nature of the lawyers’ work changed since PFI started in the early 1990s? What changes are likely in the next few years, and are there any obvious ways in which the delivery of services can be improved?
View the full article here. Posted with permission.