ABSTRACT
A contract is a legally binding agreement that recognises and governs the rights and duties of the parties to the agreement. The PPP contract is a highly complex form of contract. In a PPP, there is usually a main contract (i.e. the concession itself) and other sub-contracts. In this chapter, the discussion focuses on the structure of the PPP contract, the various types of agreements required in pursuit of a PPP project and other key contractual issues. Also for consideration in this chapter is a discussion of the procurement process and the elements and contents of a PPP contract. The aim of this chapter is to introduce the reader to PPP contracts and to emphasise the need for governments in emerging economies to respect PPP contractual agreements in order to sustain the interests of private-sector partners in financing public infrastructure projects.
