earticle

영어

Privately financed infrastructure projects create opportunities for reducing the commitment of public funds and other resources for infrastructure development and operation. They also make it possible to transfer the private sector a number of project risks that would otherwise be borne by Pubic Authority. Adequate project risk allocation between Pubic Authority and the Project Company is essential to reducing project costs and to ensuring the successful implementation of the project. Practical guidance provided to contracting authorities in a number of countries often refers to general principles for the allocation of project risks. One such principle is
that specific risks should normally be allocated to the party best able to access, control and manage the risk.
The Project Company undertakes to ensure Service Commencement usually by a particular date and to continue to provide the Service for the duration of the Contract. there may, however, be circumstance in which the Project Company should fairly be relieved from liability for failure to commence or provide the Service and should be compensated. This research paper discusses the adequate allocation of project risk which Pubic Authority should bear such as Political risks, Site risks, Change in Law, Alternative facilities risk, Force Majeure risk and so on.