The Build Own Transfer Agreement is a crucial document used in Saudi Arabian infrastructure development projects where a private entity is granted the right to finance, build, and operate a facility for a specified period before transferring it to the government. This agreement type aligns with Saudi Vision 2030's privatization objectives and is commonly used for major infrastructure projects including power plants, transportation facilities, and water treatment plants. The document comprehensively addresses construction standards, operational requirements, financial arrangements, and transfer conditions, all while ensuring compliance with Saudi laws including the Foreign Investment Law, Government Tenders and Procurement Law, and relevant sector-specific regulations. It's particularly important in the context of Saudi Arabia's growing public-private partnership framework and requires careful consideration of local content requirements and Islamic finance principles.
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1. Parties: Identification of the contracting parties including the government entity and the project company
2. Background: Context of the project, authorization, and basis for the agreement
3. Definitions and Interpretation: Definitions of terms and principles of interpretation
4. Project Scope and Grant of Rights: Detailed description of the project and rights granted to the project company
5. Term and Timeline: Duration of the agreement including construction, operation, and transfer periods
6. Construction Obligations: Requirements and standards for the construction phase
7. Testing and Commissioning: Procedures for testing and accepting completed works
8. Operation and Maintenance: Standards and requirements for facility operation
9. Performance Security: Requirements for performance bonds and guarantees
10. Payment Provisions: Financial terms, tariffs, and payment mechanisms
11. Transfer Provisions: Requirements and procedures for transfer of the facility
12. Risk Allocation: Distribution of risks between parties
13. Force Majeure: Definition and consequences of force majeure events
14. Default and Termination: Events of default and termination procedures
15. Dispute Resolution: Procedures for resolving disputes
16. Governing Law: Confirmation of Saudi law as governing law and relevant jurisdictional provisions
1. Islamic Finance Provisions: Required if project involves Islamic financing structures
2. Environmental Compliance: Detailed environmental obligations if project has significant environmental impact
3. Local Content Requirements: Detailed provisions for meeting Saudization and local content requirements if applicable
4. Technology Transfer: Provisions for technology transfer if required by the government entity
5. Third Party Agreements: Framework for agreements with third parties if relevant to project structure
6. Refinancing Provisions: Required if refinancing is contemplated during the project term
7. Step-in Rights: Rights of lenders or government to step in if project company defaults
1. Technical Specifications: Detailed technical requirements for the facility
2. Construction Program: Detailed timeline and milestones for construction
3. Testing Procedures: Detailed procedures for testing and commissioning
4. Operation and Maintenance Requirements: Detailed O&M specifications and standards
5. Performance Standards: Specific performance requirements and metrics
6. Transfer Requirements: Detailed specifications for condition at transfer
7. Form of Performance Security: Template for performance bonds and guarantees
8. Insurance Requirements: Required insurance coverage details
9. Environmental Management Plan: Environmental compliance requirements and procedures
10. Local Content Plan: Details of Saudization and local content commitments
11. Forms of Certificates: Ƶ for various required certificates
12. Site Plan and Details: Maps and details of project site
Relevant legal definitions
Clauses
Relevant Industries
Infrastructure
Energy
Transportation
Water & Wastewater
Healthcare
Education
Telecommunications
Industrial Development
Smart Cities
Public Utilities
Relevant Teams
Legal
Finance
Project Management
Operations
Risk & Compliance
Technical
Construction
Commercial
Public Relations
Government Relations
Procurement
Business Development
Relevant Roles
Project Director
General Counsel
Chief Financial Officer
Contract Manager
Project Manager
Risk Manager
Technical Director
Operations Director
Compliance Officer
Investment Manager
Infrastructure Development Manager
Public-Private Partnership Director
Construction Manager
Legal Counsel
Finance Director
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