Draft concession agreement and RFP for renovation of existing car park and expansion into new property (and financing thereof) [unofficial translation in English]
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Unofficial English translation of bidding documents and concession agreement in Lithuania
Concession agreement between Ministry of Health of the Republic of Lithuania, concessionaire and project company
Grant of concession for design,construction, project execution, technical maintenance and management and use of the car parking infrastructure in the Santariškės Medical Campus (improvements to be funded by the concessionaire of existing property which is to be rented to concessionaire by the ministry as well as expansion onto a new property – on land to be acquired by concessionaire)
Duration – 25 years
Transfer of property on expiry – good handover procedure (12) + valuation of assets transferred (depreciation)
Well drafted document and comprehensive – clauses on intellectual property, insurance, representations and warranties etc are well drafted
Termination clause (43) – well drafted and clear termination events. Termination compensation – formula, if for concessionaire default, minimum payment will be outstanding debt + interest accrued, termination not for fault (formula minimum equal to value of Rented Property and New Property at termination notice date),
Dispute resolution – conciliation and then courts of Lithuania
Related Information:
Tracking Reference:
Lituania_Draft_concession_agreement_RFP_renovation_ existing_carpark_expansion _financing_EN_2014
