Supply: Private Finance Initiative (PFI): assurance action
If you come across a PFI scenario you will need to consider the following:
- what is the chain of supply?
- whether there is a single composite supply or separate mixed liability supplies.
- what liability should apply at each stage of the chain.
- who initially owned the land - has it been transferred to a special purpose vehicle set up by the PFI provider or has the PFI provider merely provided construction services?
- to whom is the building/services leased and what is the consideration, and
- what are the financing arrangements?