News / FHWA publishes Guide for Toll Concession P3 contracts

FHWA publishes Guide for Toll Concession P3 contracts

🕔 September 15, 2014
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The Federal Highway Administration (FHWA), an agency within the U.S. Department of Transportation , published on 10 September its final Core Toll Concessions P3 Model Contract Guide.

This guide presents key concepts for the structuring and development of legal contracts for highway transportation Public-Private Partnerships (P3) in the United States. It is part of the broader effort by the FHWA to promote understanding of P3 transactions, which will include a document similar to this guide on availability payment contracts used in P3 transactions.

This guide has been designed to provide industry-standard concepts, relevant common tools and mechanisms, and situational examples applicable to P3 transactions.

The Guide has the following table of contents:

  • A brief introduction to the public-private partnership (P3),
  • Explanation of tolling regulation,
  • Information about revenue-sharing tiggers and revenue-sharing mechanics,
  • Explanation of how the P3 model may impact supervening events,
  • Risks associated with potential changes in equity interest,
  • Risks associated with potential changes in law,
  • Defaults, early termination, and compensation, and
  • Handback process.

See Core Toll Concessions P3 Model Contract Guide:

http://www.fhwa.dot.gov/ipd/pdfs/p3/model_p3_core_toll_concessions.pdf

The FHWA supports State and local governments in the design, construction, and maintenance of the Nation's highway system (Federal Aid Highway Program) and various federally and tribal owned lands (Federal Lands Highway Program). Through financial and technical assistance to State and local governments, the Federal Highway Administration is responsible for ensuring that America's roads and highways continue to be among the safest and most technologically sound in the world.



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