BOOT AGREEMENT

BOOT AGREEMENT

What if you could build a major project without paying the entire cost upfront?

That is the thinking behind a BOOT Agreement: Build, Own, Operate and Transfer.

It is a form of Public-Private Partnership (PPP) in which a company takes on the duty of developing a public infrastructure project with its own full or part financing.

The company builds the project, owns and operates it for an agreed period, generates revenue from it, recovers its investment and eventually transfers the project to the Government.

Think of a road, bridge, power plant, water facility, hospital or other major infrastructure.

Instead of Government providing all the money at the beginning, a private investor can develop and operate the project under agreed terms.

Who provides the land? Who finances construction? Who bears the risk of cost overruns? How will revenue be generated?

What happens if Government changes policy? What standards must be maintained? What happens if the project fails? When must the project be transferred and in what condition?

These must be contained in a structured BOOT Agreement, so as not to turn a promising project into disputes and financial losses.

That is why an experienced Corporate Lawyer should be involved from the start.

Apex Chambers advises that property, infrastructure and corporate transactions require proper structuring, risk allocation and legally sound Agreements that protect the interests of parties.

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