A range of business structures and partnership arrangements involving government and private sector, from PFI (private finance initiative) to joint ventures and concessions, outsourcing and the sale of equity stakes in state-owned businesses.+ Public Private Partnership (PPP).A contractual arrangement between a public and private sector entity providing a service or performing a departmental function, in accordance with an output specification, for a specified, significant period of time. PPP involves a substantial transfer of all forms of project life cycle risk to the private sector. The public sector retains a significant role in the project either as the main purchaser of the services provided or as the main enabler of the project.+ Public Private Partnerhip (PPP)USAA contract between a public sector authority and a private entity, in which the private party provides a public service or project and assumes the financial, technical, construction and operational risk associated with the service or project. Depending on the structure of the PPP and the nature of the project, ownership of the project may be leased (build-operate-transfer (BOT)) or transferred to the private entity temporarily or permanently (build-own-operate-transfer (BOOT) and build-own-operate (BOO)).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.