PFI Handback Support
Don’t let PFI contract expiry catch you unprepared
PFI Expiry and Guidance for Public/Private Partnerships
In the UK, there are around 700 Private Finance Initiative (PFI) projects with an initial capital value of £57 billion. The Infrastructure and Projects Authority (IPA) advises that expiry and transition planning should begin at least seven years before the contract end date. Many PFI projects are already within this timeframe. Is yours one of them? If so, don’t wait—take action today.
PFI contracts require careful management throughout their lifecycle, particularly as they near expiry. Our team of skilled surveyors and technicians offers comprehensive support to ensure your PFI assets are maintained, compliant, and prepared for handback.
Why choose Sircle?
Choosing Sircle for your PFI handback preparations ensures you gain a clear understanding of any deficiencies or non-compliance issues, helping you avoid unexpected costs and liabilities.
Our dedicated in-house teams conduct thorough contract reviews and analysis, identifying key handback requirements, reviewing historical variations, and providing expert advice on your contractual obligations.
We ensure a seamless asset transition by preparing meticulous handback strategies, creating detailed remediation plans, and ensuring all documentation is properly organised.
With RICS-qualified surveyors and PFI specialists on our team, we have a proven track record of supporting public sector clients in managing their PFI assets effectively .
Our comprehensive approach to asset management and contract compliance delivers cost-effective solutions that help you minimise liabilities and maximise asset value.
Get Started Today
Don’t let PFI contract expiry catch you unprepared. Contact us today for a free consultation and learn how we can support your organisation through this critical transition.
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Your questions answered
When should you start preparing for PFI contract expiry?
The Infrastructure and Projects Authority (IPA) recommends starting expiry and transition planning at least seven years before the scheduled contract expiry date. This allows sufficient time to assess asset condition, plan any necessary works, and prepare for the transition of services.
What are the key risks of not managing PFI contract expiry effectively?
The main risks include operational disruption, lack of service continuity, financial loss, and reputational damage. There may also be significant costs if assets are not handed back in line with contractual standards.
What are the core objectives for managing PFI contract expiry?
The core objectives are: 1) Ensuring the PFI project company meets its contractual obligations for exit and transition to obtain full value for money, and 2) Ensuring the expiry and transition process fully supports plans for assets and services following PFI contract expiry.
What key documents and information should you gather to prepare for expiry?
Important documents include the full PFI contract and all variations, the project financial model, up-to-date PFI company information, and project-level reporting like performance reports, management accounts, maintenance plans, and lifecycle reports.
How can you assess the condition of assets before expiry?
It’s recommended to conduct an early asset condition survey at least five years before expiry, in addition to the final survey typically required 18-24 months before expiry. This allows time to plan and complete any necessary remedial works.
What should you consider regarding data and information transfer at expiry?
You will need to ensure all asset data, documentation, and operational information is transferred. Verify data quality and completeness, plan the transfer process early, and test system compatibility. You also need to identify any key personnel with critical knowledge or certifications.
How can you manage relationships with the PFI company during the expiry process?
You need to develop a relationship management plan, engage early to set expectations, tackle issues proactively, aim for a collaborative approach while understanding your contractual rights, and establish effective governance and escalation procedures.
Services to get you ready for handback
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A local authority in the Midlands
A key client approached Sircle to conduct a latent defect survey of a complex local authority building in the Midlands. The building, constructed under the private finance initiative (PFI), was nearing the end of its 12-year contractual defect period.
Click here“We couldn’t be more pleased with the services provided by Sircle. If you are in need of reliable, efficient and thorough surveying services, I fully recommend Sircle.”
Royal Academy of Dramatic Art
