EJCDC Releases Public-Private Partnership Agreement
Monday, November 10, 2014
Engineers Joint Contract Documents Committee
has released the
EJCDC® P3-508, Public-Private Partnership Agreement
. EJCDC® P3-508 is the first standard P3 contract document in the United States prepared by an impartial, professional, non-profit organization.
EJCDC created EJCDC® P3-508 in recognition of the growing number of government entities seeking the advantages of expertise and financing from private partners. EJCDC P3-508 provides a useful resource in jurisdictions where laws and regulations allow public-private partnerships.
EJCDC P3-508 presents a framework of contractual conditions typical among P3 agreements, and is flexible enough to meet the needs of most public and private entities, and provides for the attachment and incorporation of additional terms and contract documents as exhibits to address project-specific requirements relating to design, construction, financing, operation, maintenance, revenue, and management. While the P3-508 document can be used with a variety of design and construction or design-build documents, the EJCDC Design-Build (D-series) documents provides standard design-build contracts that can be used with EJCDC P3-508.