First cut at risk allocation
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Sharing out of risk |
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RISK |
Grantor |
concession holder |
contractor1 |
project lenders |
insurers |
security guarantors |
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Political |
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termination of concession by grantor |
X |
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sequestration |
X |
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tax increases |
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X |
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alteration of monopoly status |
X |
X |
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alteration of BOT law |
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X |
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force majeure-political |
X |
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Financial |
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inflation |
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X |
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X |
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interest rate |
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X |
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X |
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Legal |
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concession holder insolvency |
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X |
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X |
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breach of financing documents |
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X |
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X |
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Construction completion |
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construction contractor default |
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X |
X |
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X |
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default of concession holder |
X |
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X |
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cost overruns |
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X |
X |
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X |
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force majeure |
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X |
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X |
X |
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Market-revenue |
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not enough traffic |
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X |
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lower tariff revenue |
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X |
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Operations |
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technology obsolescence |
X |
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force majeure |
X |
X |
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X |
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1
Contruction contractor |
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