chapter  23
8 Pages

UK Waste Sector – An Assessment

ByMelville Haggard, Quartermain Advisers

This chapter introduces international sponsors and investors to the main features of the French Partenariats Publics-Privs (PPP) market, and focuses on the principal specificities of its legal framework and economy. The most common forms of PPP financing structures will be presented in broad terms to better understand the specificity of some financial instruments widely used in French PPP, such as Dailly Law assignment. The Dailly Law Assignment is used in all French financing structures for PPP transactions, in particular for partnership contracts. As security to the loan granted to it, the project company assigns its remuneration receivables arising from the PPP contract to the lenders. French law recognizes a multiplicity of contracts for public infrastructures or services which would fall into the market definition of PPP. Under a Public Service Delegation (PSD) contract, the commercial risk of the public service operation is substantially transferred to the private partner who is entitled to collect revenues from the operation of the project.