The Private Finance Initiative (PFI)

Additional PFI Guidance

This section includes further guidance issued by or on behalf of the Treasury, covering a variety of areas including:

Value for Money Guidance - assessment guidance and quantitative assessment guidance to be used for any PFI Value for Money assessment.
Operational Taskforce Guidance - guidance for projects on key issues arising following signature of the PFI contract.
Finance Guidance - guidance on various issues relating to financing of PFI projects.
Treasury Taskforce Guidance - technical notes published by the Treasury Taskforce on various topics, which are still valid.

Section 1 - Value for Money Guidance
1.1 - Value for Money Assessment Guidance
1.2 - Value for Money Quantitative Assessment Guide

Section 2 - Operational Taskforce Guidance
2.1 - Operational Taskforce Note 1: Benchmarking and Market Testing Guidance
2.2 - Operational Taskforce Note 2: Procurement to Service Delivery Guidance

Section 3 - Finance Guidance
3.1 - Application note: interest-rate and inflation risks in PFI contracts
3.2 - Guidance Note: The Use of Internal Rates of Return in PFI Projects
3.3 - Preferred Bidder Debt Funding Competitions
	3.3.1 - Preferred Bidder Debt Funding Competitions - letter
	3.3.2 - Preferred Bidder Debt Funding Competitions - draft outline guidance for feedback
3.4 - Refinancing
	3.4.1 - Refinancing of Early PFI Transactions - Code of Conduct
	3.4.2 - Guidance Note: Calculation of the Authority's Share of a Refinancing Gain
	3.4.3 - Covering Note: Value for Money in Refinancings
	3.4.4 - Application Note:Value for Money in Refinancings
3.5 - Spens Clause
	3.5.1 - Guidance on application of the Spens clause to PFI transactions- covering letter
	3.5.2 - Guidance on application of the Spens clause to PFI transaction
3.6 - Credit Guarantee Finance
	3.6.1 - Credit Guarantee Finance Technical Note 1
	3.6.2 - Standard public sector PFI/PPP loan facility term sheet
	3.6.3 - Indicative guarantee facilities term sheet for PFI/PPP projects
	3.6.4 - Draft form of the guarantee for banks and/or financial institutions
	3.6.5 - Draft form of the guarantee for monoline insurers
	3.6.6 - Commentary on the standard public sector PFI/PPP loan facility term sheet and the indicative guarantee facilities term sheet
	3.6.7 - Draft form of the letter of clarification to be issued by the relevant Public Sector Finance Provider in respect of each CGF-funded PFI/PPP Project

Section 4 - Treasury Taskforce Technical Notes
4.1 - Technical Note 1: How to Account for PFI Transactions
4.2 - Technical Note 3: How to Appoint and Manage Advisers to PFI Projects
4.3 - Technical Note 4: How to Appoint and Work with a Preferred Bidder
4.4 - Technical Note 6: How to Manage the Delivery of Long Term PFI Contracts
4.5 - Technical Note 7: How to Achieve Design Quality in PFI Projects

Section 5 - General Guidance
5.1 - Opinion Letters