Eversheds Sutherland to lead review of PF2 contracts guidance

Eversheds Sutherland has been appointed by the UK Infrastructure and Projects Authority (IPA) to review and update the draft guidance for contracts under PF2, the successor to PFI.

The law firm will work as part of a consortium including asset management and construction consultancy Currie & Brown and professional services firm EY.

The four hundred page PF2 guidance covers practical, legal, technical and financial aspects and blends them into a cohesive and comprehensive approach to PF2 contracting, including extensive legal drafting and detailed guidance notes.

The Eversheds Sutherland team will be led by Jackie Heeds (Commercial Practice Partner) and supported by Michael Grimes (Partner) and Aneliese Bayley (Senior Associate) together with a wide team of specialists.

Heeds said: “This is not only a high profile and topical project but also an extremely important one, so we are proud to be leading this. PF2 will continue to play an instrumental role in enabling projects in a diverse range of sectors and the guidance and templates provided by IPA form a critical part of the process to ensure consistency, good practice and transparency. The guidance is also used as a basis for PPP contracting internationally.”

Matthew Vickerstaff, Deputy Chief Executive of the IPA and Head of Project Finance, said: “The IPA has commissioned a top to bottom review of the new standard contract for PF2 projects before it is released to the market next year. We want to make sure that future PF2 contracts adhere to global best practice, are legally sound and deliver the best possible value for money for taxpayers.”