Draft concession agreement with RFP
Parties - IT Expressway Limited (ITEL) and concessionaire
Duration - 9 years (including 9 month construction period)
Project site - bus shelter locations - possession granted by ITEL to concessionaire
Concessionaire to dismantle existing structures and design, build, operate and maintain new bus shelters as specified locations. Design to be reviewed and approved by the Engineer-in-charge (representative of ITEL) who will also inspect works.
Concessionaire entitled to keep revenune from advertising space on permitted locations on the bus shelters.
Concessionaire to pay concession fee to ITEL.
Concessionaire to maintain insurances.
Dispute resolution - Arbitration - Chennai
Clear, well drafted and concise document - good for municipal level PPP