At the project preparation stage, the Relevant Authority should conduct the following activities:
Recruit and engage advisors, including financial, technical, legal, and other advisors (such as, accounting and taxation, and environmental and social).
Conduct asset due diligence, including technical, commercial, financial, environmental, social, legal and accounting, and tax due diligence.
When designing and developing a public-private partnership (PPP) project, a government agency may seek assistance from external advisors to complement its own team and supplement its resources and expertise. The range of potential advisers includes legal, financial and technical advisors and can be used to develop pre-feasibility and feasibility studies, as well as draft bidding documents and support the contracting agency in procuring and negotiating the project.
Below are resources offering guidance on drafting TORs as well as sample TORs: